What is a market study?
A market study is a flexible tool to explore whether a market, or feature of a market, is working well for Jersey consumers. A visual quick guide to market studies is provided below.
Market studies consider the relationship between consumer behaviour and the market structure and the behaviour of firms in that market. By looking at these types of relationships and other factors, we can determine whether action designed to encourage changes in consumer behaviour, business behaviour, or both, will help address any market problems found.
The outcomes of a market study may be one or more of the following:
- A clean bill of health for the market
- Consumer/business focused action
- Recommendations to Government/ourselves
- Investigation and enforcement action.
Note, if as part of a study, evidence was found of a firm/s contravening Competition Law, the appropriate tool would be competition enforcement, not a market study. In this scenario the market study would be stopped and a formal investigation would be launched.
Who decides what markets to examine?
Market studies can be initiated at the request of Government/the States Assembly or be self -initiated. Some of the likely considerations for undertaking a market study might include::
- Matters arising from other areas of our work, for example mergers, enforcement and complaints; and
- Potential issues identified by others, for example through cooperation with other Jersey consumer bodies, the Government or other National Competition and Regulatory Authorities (e.g. the UK Competition and Markets Authority).
Consistent with our prioritisation principles, our focus is on markets where there is the potential to have the greatest impact for Jersey consumers.
What is the process for a market study?
We will publish terms of reference setting out the scope of the study and proposed timeframe. The next stage is an information-gathering phase which will be followed by analysis of the evidence and information received.
Before issuing the final report, we may release an interim report and findings to seek views. The recommendations may include measures to improve the performance of markets, such as changes to regulation, policy or the conduct of market participants.
What market studies are presently taking place?
We will conduct market studies as part of our annual work programme. Each study will be announced on our website with corresponding terms of reference, frequently asked questions document and media release published.
There are no market studies currently taking place. Once opened, information on the current market studies can be found on the Open Cases section on our homepage.
What market studies have been completed before?
We have undertaken a number of market studies in the past and these are summarised in the table below.