Understanding Global Market Trends (Part 2) – How SMEs Can Analyse and Apply Them 

Tracking trends is just the first step—what you do with that knowledge determines your success. Businesses that adapt early gain a competitive edge, while those that hesitate risk being left behind. 

In Part 1, we explored why global trends matter and how SMEs can track them using tools like Google Trends, industry reports, and social listening. Now, in Part 2, we’ll break down how SMEs can analyse, validate, and apply trends to create real business opportunities. 

Techniques for SMEs to analyse market trends 

Not every trend is worth following. The key is knowing which ones align with your business. 

Trendspotting and competitive analysis 

Before jumping on a trend, determine if it’s relevant and sustainable. Ask: 

Is this trend aligned with my business goals? 

Are competitors already adopting it? If so, how? 

What challenges might arise when implementing it? 

Example: A Kazakh edtech start-up noticed rising demand for AI-driven tutoring in Western Europe. By analysing competitors, it identified gaps in language learning solutions, allowing it to enter the market with a niche offering. 

Customer surveys and feedback 

Your customers are the best source of validation. Engage them through: 

Surveys and polls – Use email or social media to ask about preferences. 

Beta testing – Offer early access to gauge interest before a full rollout. 

Live feedback – Monitor how customers respond to early iterations of new products or services. 

SWOT and PESTLE analysis 

Strategic frameworks help structure trend analysis: 

SWOT (Strengths, Weaknesses, Opportunities, Threats) – Helps assess whether a trend is an opportunity or a potential risk. 

PESTLE (Political, Economic, Social, Technological, Legal, Environmental) – Evaluates how external factors influence a trend’s impact on your industry. 

Example: A Georgian agritech firm used PESTLE analysis before entering the German market, identifying sustainability regulations as both a challenge (stricter compliance) and an opportunity (demand for eco-friendly solutions). 

Applying trends to business strategy 

Spotting a trend is meaningless unless you act on it strategically. 

Testing new ideas and pilot programmes 

Rather than a full-scale investment, test trends in low-risk, high-feedback ways: 

Soft launches – Introduce new offerings to select markets first. 

Limited edition products – Gauge interest with a small production run. 

Pop-up collaborations – Partner with local businesses to test new markets. 

Example: An Azeri fashion brand entering Japan piloted a collection of minimalist, eco-friendly designs through a Tokyo-based concept store. Sales exceeded expectations, leading to a permanent expansion. 

Agility in business strategy 

Market trends shift quickly. The ability to pivot, iterate, and refine strategies is crucial. 

Avoid rigid long-term planning that limits adaptability. 

Continuously reassess market conditions and adjust accordingly. 

Stay open to emerging technologies that enhance efficiency. 

Leveraging partnerships and collaborations 

Aligning with the right partners accelerates market entry and brand credibility. 

Cross-industry collaborations – Leverage expertise from different sectors. 

Local partnerships – Work with established players for smoother entry into new markets. 

Tech and innovation alliances – Adopt cutting-edge solutions through strategic collaborations. 

Example: A Ukrainian SaaS company expanding into Canada formed a strategic partnership with a local cybersecurity firm, integrating advanced security features into its software to meet North American compliance standards. 

Market trends create opportunities for growth, innovation, and expansion—but only for businesses that analyse them strategically and act fast. 

Review a recent trend in your industry and assess whether it’s worth pursuing using SWOT or PESTLE analysis. 

Missed Part 1? Go back and learn how to track trends using the right tools before applying them.