What type of data is known as secondary data in retail research?

Secondary data in retail research refers to information that has already been collected and made available by other sources. This type of data is utilized for research purposes, allowing researchers to build upon existing findings rather than starting from scratch. Using secondary data can be advantageous as it often saves time and resources, providing a broader context for understanding market trends or consumer behavior.

For example, secondary data may include statistics published by government agencies, industry reports, academic studies, and historical sales data from a company. Researchers analyze this pre-existing information to extract insights relevant to their current research questions. This approach is particularly useful in the retail sector, where market dynamics evolve quickly, and having access to previously gathered data can provide valuable background information.

In contrast, the other options refer to different types of data that do not fit the definition of secondary data. Original research data denotes new information collected specifically for a study, while data collected from random sampling refers to a specific method of data collection that focuses on capturing a diverse range of participants. Lastly, data not relevant to the study would not serve a purpose in research, whether it be primary or secondary. Thus, the emphasis on already available information characterizes secondary data effectively.