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Conducting Market Research

By gathering and analysing consumer and economic data, you can understand the market you are planning to enter.

For instance, market research can help you to:

  • identify who your existing and potential customers are
  • find out what products and services they want
  • plan how to differentiate your business from the competition

You can either pay someone to help you conduct market research or you can choose to Do-It-Yourself (DIY).

Various Government agencies provide research services and resources, both generic and customised, at little or no cost. They are good resources you can tap into.

Sources Of Statistics In Singapore

The Singapore Department of Statistics (DOS) publishes economic statistics (on a monthly and quarterly basis) and analyses on various economic issues.

DOS offers both free and paid data provision services. These statistics provide useful Singapore-focused insights into your target market.

Statistics & Trends By Industry

This collection of statistics includes useful information such as number of players in each sector, total operating revenue & expenditure, profitability ratio, breakdown of sector cost structure etc.

Industry What It Covers
Arts, Entertainment & Recreation Sub-sectors such as Arts, Dramatic Arts, Music, Entertainment & Recreation, Gardens & Nature Reserves, Museum, and History & Culture, and Sports.
Food & Beverage Bars & pubs, canteens, fast food outlets, food caterers, restaurants, and other types of food establishments such as cafes, food courts, etc.
Infocomm Sub-sectors such as Publishing, Motion Picture, Radio & TV, Telecommunications, IT Services, and other types of infocomm trades such as news agencies, web portals, etc.
Manufacturing Biomedical, Chemicals, Electronics, Food Manufacturing, Furniture, Precision Engineering, Printing, Textile & Apparel, and Transport Engineering.
Private Education General education, higher education, technical & commercial education, and supporting services.
Private Healthcare Hospitals, western clinics, non-western clinics, dental services, and other medical services, etc.
Real Estate & Business Services Sub-sectors such as Real estate, Rental, Administrative & support service activities, and Professional, scientific & technical activities.
Retail Sub-sectors such as general merchandise, household equipment, personal goods, and transport equipment.
Transport & Storage Land transport services, water transport services, air transport services, storage & warehousing services, postal & courier services, and other transport services, etc.
Wholesale Trade Sub-sectors such as Agricultural Materials, General Merchandise, Fuels & Chemicals, Transport Equipment, and Other Wholesalers, etc.