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FASHN 398 - Professor Umhauer (Spring 2020): Industry Analysis

Industry Analysis

  1. Identify the industry in which your business will operate by the NAICS industry code(s) that best fits your business. If you can, define the industry as close to 6 digits as possible.
  2. What does your industry look like? Identify at least 5 key industry statistics that give you a snapshot analysis of the state of your industry and any trends taking place.
  3. Identify and describe at least two trade publications that relate to the industry in which your business will operate.
  4. Summarize current and anticipated characteristics and economic trends in the industry. Cite from at least one of the trade publications identified above.
  5. Identify at least two external factors that influence the demand for your products and/or services.

1 - NAICS Code Lookup

The North American Industry Classification System (NAICS) is used to classify businesses according to the type of work they do.  Knowing the NAICS code for your industry is helpful when searching for specific business and marketing information.

Here are two quick and helpful guides on NAICS codes:


You can find your NAICS code by clicking on "2017 NAICS" link under Reference Files on the left hand side. Most of your business proposals will be in the "44-45 Retail" section.


Another way to find your NAICS code, is to do a keyword search in the "2017 NAICS Search" box near the top left.

Here are some examples: 

  1. “Clothing”
    1. 448120: Clothing and Clothing Accessories Stores 
    2. 453310: Clothing stores, used
    3. 448140: Family clothing stores 
  2. “Costume”
    1. 448150: Costume jewelry stores
    2. 448190: Costume stores (including theatrical) 

2 - Industry Statistics

Use the NAICS code that you found in Step 1 to find statistics about your industry. 

2 to 5 - Trade Publication in the Library's Databases


 
 

OneSearch is really what it's name implies, one place to search for many different kinds of sources, including; books, eBooks, academic articles, news articles, videos, and more!


Example Searches (you can copy and paste these into the search box above):

  • cloth* industry
  • clothing (retail or industry)
  • clothing retail California
  • fashion design*
  • textile industry

Limit your search to trade publications by selecting 'Trade Publications' under 'Source Types' on the left.


You also can run searches using a NAICS code too!

Example Search:

  • NAICS 448120

Doing this will often bring up industry reports that contain a lot of statistics.