Guide for Kickstart Weekend: Industry/Market Research
Common Challenges & Research Strategies
- Issue #1: Information availability depends on the specific industry. Not every industry is covered in all databases. There may not be a report on an emerging or niche industry in any database. Reports found via Google may not be available through the Library.
- Strategy: Broaden your search (e.g., instead of the "buttons industry", find information on "clothing accessories") or look up information in related/competing industries. Think about your target customers and what else they may like to do then research that market (you will need to make some educated assumptions). Do article/Web search. Look up Form S-1 or 10K of a public company in the same industry.
- Issue #2: Different databases may call the same industry differently. Even NAICS codes can be different as they are assigned by the research firms that produced the reports/data.
- Strategy: Brainstorm synonyms, be flexible in your search, or search by company name (main players) or prominent brand names.
- Issue #3: Even on the same industry, numbers from different databases may not be the same, due to difference in scope, time period, source, or methodology.
- Strategy: Make sure you understand how a particular report defines the industry, and what the numbers mean (e.g., production vs. retail sales). Get information from a few different sources and come up with your own estimate.
- Issue #4: Most databases provide industry/market information on the national level rather than local.
- Strategy: Make educated assumptions, consult Census industry data by state, do article/Web search for info on local markets.
Useful Websites
- COVID-19 Economic Impact Tracker (CEIT)"Provides access to Cortera’s database of over $1.5 trillion in annual spending by millions of US businesses to help understand the ongoing COVID-19 crisis." Data available by industry and state.
- Census Business and EconomyThe Census Bureau produces economic data across the entire economy on a monthly, quarterly, yearly, and five-year basis. ** Data NOT available from the Economic Census.
- Census Business Builder"A suite of services that provide selected demographic and economic data from the Census Bureau tailored to specific types of users in a simple to access and use format."
- Proquest Statistical Abstract of the United States
This link opens in a new window
Maintains the authoritative and comprehensive summary of statistics on the social, political, and economic conditions of the United States.
Industry & Market Research Reports
Recommended:
- Mintel
- This link opens in a new window
Maintains market research reports and consumer demographic/lifestyle profiles covering U.S. and international marketplaces. - Passport (by Euromonitor)
- This link opens in a new window
Contains extensive statistics and analyses on countries, industries, companies, and consumers. - Statista
- This link opens in a new window
Provides statistics from over 18,000 free and proprietary sources on a wide range of topics such as business, media, and demographics. - Business Insights: Global
- This link opens in a new window
Provides company and industry profiles, including SWOT reports, market share reports, investment reports, articles, financials, and case studies. - Business Source Premier
- This link opens in a new window
Provides full text and citations to articles in various business publications; also includes company profiles, industry profiles, and country information.
Others:
- Investext (via Mergent Online)
- This link opens in a new window
Provides reports written by analysts at investment banks, brokerage houses, and consulting firms. Reports cover financials and analysis on companies and select industries. - Automotive News Data CenterMaintains international statistics on the automotive market including sales, production, inventory, and incentives. PSU faculty/staff/students please log in with your PSU (ODIN) ID to view username/password. Visitors please contact the Reference Desk.
- SMA: Sports Market Analytics (formerly SBRNet: Sport Business Research Network)
- This link opens in a new window
Provides coverage of market segmentation for sporting goods, sports e-commerce, sports marketing, sports sponsorship, and sports facilities as well as articles on sports broadcasting and social media.
Industry/Trade Associations
An industry association is established to advocate for the industry and associated companies. They collect and provide unique data/articles/reports. Sometimes these sources are on their websites for free.
To find the industry association websites:
- Do a Google search with keywords followed by "association".
- Industry profiles in library databases may have a section for related associations. For example, in the IBISWorld report, look under the External Environment -> Assistance -> Non-government section.