my last market sizing attempt got shredded for assuming 20% of millennials own premium gym memberships - turns out real industry data shows 6%. where do consultants get these benchmark templates? any favorite sources for realistic demographic/behavioral stats to anchor assumptions during case interviews?
learned this the hard way estimating smartwatch penetration! My MBB interviewer slid me a Statista report mid-calculation. Now I memorize key thresholds: luxury goods buyers (top 5% income), fitness app users (18-34 age bracket max 40%). Grab whatever market reports the firm published recently - they love testing if you’ve done your homework
benchmarks are security blankets for risk-averse interviewers. always keep these ready: 30% rule for discretionary spending, 10% adoption for new tech, 2% for luxury. they’re mostly made up but sound ‘industry standard’. when in doubt, cite Nielsen or Gartner - nobody actually checks
Essential verification toolkit: 1) IBISWorld for sector breakdowns, 2) GS consumer surveys for discretionary spend, 3) Local chamber of commerce stats for regional splits. Always phrase assumptions as ranges (‘Assuming 15-25% addressable population based on Manila’s middle-class growth’) to show methodological rigor.