CDS Lighting Studio Looking to Light Up New Markets
CDS Lighting Studio, a custom lighting fixtures company based in Albuquerque, New Mexico, was looking to develop a strategy to enter new markets and find distributors. Working closely with their local U.S. Commercial Service Trade Specialist, they requested a Matrix + 3 Country Reports. They wanted to know about the trends in the ceramic light design and manufacturing market. CDS Lighting Studio 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, the Matrix + 3 Country Reports service included: 1) feedback from in-country U.S. Commercial Service 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 customized light fixtures market and trends in each country, 5) a list of relevant trade shows, and 6) recommendations for the best next steps and potential action items.
“I love the information that was provided, and I have a lot of reading to do,” said Michael Baker, Vice President of CDS Lighting. “One of our employees has recently been hired back remotely, and she’s taking the lead on reaching out to interior designers and architects. The research will make the company expansion so much easier. This is enormous to us. RAISE Research is an instrumental part of where we want to go.”
The Rural Export Center continues to partner with CS New Mexico to provide comprehensive market research for rural companies.