Tips on where to check if a market is growing?
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I would like to know if you guys have any tips on where someone can see for example, how's the wine market doing or the toys market doing world wide or US only.
I have been looking around but I can only find these expensive reports.
Any tips?
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Hey Pierre, but does google trends gives you andy stats on how a market is doing? – Diogo Da Silva 13 years ago
3 Answers
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I'll give you a quick and dirty way to do it. Go to Google Trends and type in the market you're looking for:
http://www.google.com/trendsThis will give you the result for toys in the US:
http://www.google.com/trends?q=toys&geo=usa&sa=N
- This will allow you to see how searches for your market are occurring over time
- In this new internet age search is likely to play a massive role in your new business
- This technique works best for larger markets where trend info is available
- You can then research the market further by obtaining research analysis on it, usually at a price.
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+1 Agree with this "quick and dirty" approach. I would then go into more details using the Google Adwords Keyword Tool. – Tucson 13 years ago
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Yeah, good point, forgot to mention that. The keyword tool will allow you to drill even deeper into the market to see exactly what customers are searching for.. – Dave Sumter 13 years ago
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Try Business Monitor International it does have a free trial or get it through your or a friend's university\B-school library.
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Sorry I just noticed my answer is another expensive report. That said many university libraries have a BMI subscription all you have to do is find an in. The BMI reports are seriously awesome. – Cameron Mc Grane 13 years ago
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One obvious way is to look at key companies or competitors in the space and see how quickly or slowly their sales are growing. Of course, this is easier for publicly traded companies than for private firms.
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