Library: Business: Industry Research

Getting Started with Industry Research

Industries exist on a continuum from very broad (retail) to niche (customized gift baskets). Many sources are biased towards broader industries.
The same industry can be described in many different ways, depending on the source! Take note of alternate ways your industry is described. (Examples: Jos. A. Bank could be said to be in the clothing, apparel, or menswear industry.)
Does your industry sell its products/services to businesses in other industries (B2B)? Those industries would well be worth researching too.
Do you need information that is local, regional, US-based, global? This will affect where you need to look for info and the amount of info you find.
There is a synergy between company and industry information. Detailed company information will often yield useful nuggets of industry information.
Use and understand Industry Codes as needed...

NAICS: North American Industry Classification System (5-6 digits)
The newer system (1997) of industrial codes for US, Canadian and Mexican industries.
SIC: Standard Industrial Classification (2-4 digits)
Though this 1930s system was superseded by NAICS, some sources still use SIC codes.

Industry Profiles - First places to look

Business Source Complete This link opens in a new window
In the first search box, enter your industry by name (or enter the NAICS/industry code in the box on the bottom right of the advanced search screen).
In the second search box, enter: MarketLine OR "industry profile"
You may want to use the third search box to limit your search to a particular country or region. For example, you could enter: global OR "United States"
Run the Search
On the results screen, change the Relevance dropdown (top right) to Date Newest
Business Market Research Collection This link opens in a new window
In the first search box, enter your industry by name (or enter the NAICS code in the box near the bottom of the advanced search screen).
You may want to use the second search box to limit your search to a particular country or region. For example, you could enter: global OR "United States"
Run the Search
On the left of the results page, under Document type select Industry Report
Next, change the Relevance dropdown (top left) to Most recent first

Encyclopedia of American Industries

Other Good Sources of Industry Information

Bloomberg Businessweek
Provides some free (and some not so free) content such as Industry Outlook reports.
Current Industrial Reports
Government data on production and shipments of selected manufactured products as reported by the Manufacturing, Mining & Construction Statistics division of the Census.
Fortune
Provides information on the economic, political and social trends that affect business. On the left, click "Search within this publication" and enter your industry into the 2nd search box.
MarketResearch.com
Industry and other intelligence report abstracts are free, but the full-text has to be purchased (often for high prices).
U.S. Department of Commerce International Trade Administration (ITA)
With a little digging in ITA's Data & Analysis section, you can find market size estimates, etc.
Wall Street Journal
Search this news source for articles from the Wall Street Journal back to 1984.
2017 Economic Census
Done every 5 years, the Economic Census is a vast source of industry information.

Learn More

Greig, J. (n.d.). Financial paperwork [Photograph].

Common Size Financial Statement Definition Hayes, A. (2020, November 25). Common size financial statement definition. Investopedia.
6 Basic Financial Ratios and What They Reveal Wilkins, G. (2022, May 04). 6 basic financial ratios and what they reveal. Investopedia.

Trade Associations

Look to trade associations for industry news, analysis, and statistics. Below are some sources for identifying relevant associations. Locate the association website to see what information is available for non-members.

If you've explored the Library, read about important companies in the industry, investigated the association's website, and still don’t have the information you need, try contacting the association with specific questions.

Google
Try a Google search like this: [industry name] AND organization OR association. Example search, footwear industry association.

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