Industry research can be conducted at two levels:
From a global perspective, it is necessary to understand where the product is most popular, where the sales volume is the largest, where the main market is, etc. You can directly find relevant information through tools such as Google Global Business Opportunities and Google Trends.
From a regional market perspective, it is necessary to understand the main sales market of the product, the best-selling region, the product structure of the target market, the market saturation, whether the industry is monopolistic, etc. You can find out through data websites, research reports, news reports, etc.
We can understand the market size, growth rate and trend through industry market research reports. In addition to domestic industry-related websites and public accounts, the following are some of the main sources of reliable industry information:
(1) Nielsen. A leading global information and data company that provides market research, opinions and data on what people watch, listen to and buy.
(2) Pew Research Center. This is an information library that introduces the public to issues, attitudes and trends affecting the United States and the world.
3) MarketResearch.com. This is a leading provider of market research reports and industry analysis on products, markets, companies, industries, and countries.
(4) U.S. Census Bureau. This is one of the sources of high-quality data on people, businesses, and the economy.
(5) NPD Group. It helps retailers identify market trends through industry analysis and consulting services to make smarter business decisions.
In addition, Google is also a very important tool for finding industry articles. If you search for e-commerce apparel trends, enter “ecommerce apparel trends” and select “Tools” in the upper right corner of the page, and then change the search time range to “Past year”. We can see a lot of useful industry information. If a company plans to launch a new clothing line for women and wants to understand the trends, the search scope above is too large and its content is likely to be inconsistent with the actual situation of women’s clothing. Therefore, you should add specific search terms and try to optimize the search. The more specific the data found, the better. For example, you can add the keyword “women”.
In addition, understanding everyone’s ideas from discussion groups on social networks is also a way to get industry trends. If you want to understand the needs and trends of women’s sports products, you can search for “women’s athletic facebook groups” to enter the social group to filter information and get inspiration for product improvement.