5 Sparrows Looks to Sweeten the Market
5 Sparrows, a producer of stevia-sweetened drink mixes based in Kalispell, Montana, received a worldwide Matrix + 3 Country Reports on the trends in the international coffee shop market from the Rural Export Center in Fargo, North Dakota. RAISE Research provides in-depth market research through the U.S. Commercial Service (CS). 5 Sparrows started with a customized Matrix, a tool to rank all the countries of the world, culminating in in-depth research on their top 3 chosen countries. Funded with a Small Business Administration (SBA) STEP Grant through the Montana Department of Commerce, the Matrix + 3 Country Reports included: 1) feedback from in-country CS offices in 6 top markets from the Matrix, 2) identification of potential buyers/partners/distributors, 3) a comparative landed cost analysis incorporating shipping costs and import tariff and tax rates, 4) an overview of the coffee and drink mix trends in each country, 5) a list of relevant trade shows, and 6) recommendations for the best next steps and potential action items.
“I have had some light experience with exporting and broadening our sales to other global markets has been on my radar for some time,” said owner, Melanie Francis. “The Matrix was the perfect place to start. The team worked with me to identify various key indicators for my exact product of manufacture that we used to weigh actual data from every significant market from around the globe. The results were comprehensive and impressive. The team again helped me to identify several focused market questions very specific to my product that we used to poll Commercial Specialists from our selected countries. Based on their answers, and along with the data provided by the Matrix, I was able to choose three countries for which the team did an in-depth market report. The findings of the reports were extremely detailed, highlighting important aspects of how our products could perform in each country.“
The Rural Export Center continues to partner with the Montana Department of Commerce and CS Montana to provide comprehensive market research for rural companies.