USA

Market Year Stats USA
Population 2010 est 313.2 M
No. Households 2010 est 114.8 M
Currency 2010 US Dollar
GDP 2010 $14.72 T
GDP Growth Rate 2010 2.70%
Inflation 2010 1.60%
Unemployment Rate 2010 9.70%
Population Below Poverty Line 2010 15.30%
Imports 2010 $ 1,935 T
Exports 2010 $ 1.289 T
No. Mobile Phone Users 2010 279 M
No. of Internet Users 2009 245 M
Sales Tax (paid at point of sale) 2010 0-10.25% (State & Local)
Applies at Point of Purchase

 

Understanding US Business Culture

While the American’s & the British may appear similar in language & culture, the two nations are actually quite different. Understanding the idiosyncrasies between them will ensure you’re better equipped to enter the market, negotiate deals & develop long-term business relationships.

Building Relationships – Americans often build relationships through business, not business through relationships. Work out the details of the deal first, the relationships will come later.

Active Selling – Is expected, often to a degree that might be considered excessive in the many markets, particularly the UK & mainland EU.

Time is Money – Be well prepared with samples, packaging & sales sheets. Know your ROI, sales forecasts, pricing & the logistics.

Deadlines – Are Real & Short!  Respond quickly or risk losing the business.

Know Your Competition – Know your competitive advantage over specific US suppliers, as well as your domestic & international track record.

Say What You Mean – Being direct is a virtue;  Ask for what you want, Say what you mean & Do what you say.  Being shy & unassertive may be seen as weakness in the US. Americans won’t take offence to well-phrased, direct questions because they ALWAYS reserve the right to say no.

Be Positive – The British tendency to be self-effacing or downplay achievements can CLASH with Americans ‘Can-Do’ attitude & tendency to take information at face value.