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Knowing the Market

One thing that seems to be always mentioned out an Agent's website is "Have you researched the market?"
I have my own ways of doing this, mainly looking through Best Seller lists, seeing what is being released, looking at book reviews in newspapers and subscribing to periodicals such as the London Book Review. But, based on how long some novels take to get published, I feel I may be looking at the trends of a year or two year previously? These trends may no longer be in vogue.
Does anyone have a more precise way of following market trends?
That's what a publisher said, back in January, at the Bologna Book Fair. By the time you notice a trend, it might already be over. Forget trying to catch the wave.

The trend right now is surely 'issues' .

Preach Lit.

Meanwhile I subscribe to The Bookseller.