Government procurement data, the information on what goods and services government entities purchase in different markets, is an extremely valuable, and often underused tool for the export industry. Government data can help identify and open new markets, and help businesses compete more effectively, in international government procurement markets.
Identifying New Markets
By understanding what goods and services are being procured by government entities, export agencies can identify new markets that may be open to their products or services. This data can also be helpful in terms of understanding the needs of these new markets so that export agencies can tailor their offerings accordingly.
Understanding Changes in Existing Markets
Government procurement data can also be helpful in terms of understanding changes that are taking place in existing markets. For example, if there is a decrease in the procurement of certain products or services, this could indicate a change in the market that export agencies need to be aware of. Similarly, an increase in procurement could indicate an opportunity for export agencies to increase their market share.
Benchmarking Against Competitors
By understanding what other export agencies are selling to government entities, export agencies can adjust their own offerings to make sure they are competitive. This data can also help export agencies understand where their competitors are selling so they can identify new opportunities.
Spend Network have government procurement data for more than 150 countries globally. We take the hard work out of collecting, organising and analysing procurement data at scale. Get in touch to find our more about our data products and services.