The advantages of selling in the United States
The purchasing power of U.S. consumers remains strong even in times of inflation
For international companies seeking new sales channels abroad, selling in the United States remains the best business strategy. In April, retail sales in the U.S. market increased by 0.9 percent, an eloquent growth that highlights the solid purchasing power of U.S. consumers. The increase, despite inflation, was led by the restaurant sector and sales of durable goods such as electronics and automobiles.
U.S. consumers are providing support for businesses in the U.S. even after a year marked by supply chain disruptions and rising prices for rents and necessities -a sign of the resilience of the U.S. economy, as well as proof that those who want to do business in the U.S. can rely on a crisis-proof market.
Retail sales cover one-third of U.S. consumer spending: travel and service spending in America also starts to grow again
In America, retail sales account for a small percentage of consumer spending because the rest goes to services such as travel, health care and beauty treatments. Airlines and hotels, in particular, are experiencing strong sales because of the increasing number of people who want to travel. This suggests a climate of remarkable trust which can help reassure European and international companies operating in these sectors in the U.S. market.
Let's take a closer look at the numbers of this growth in U.S. retail sales compared to the beginning of the year:
- Electronics stores: +1%
- Car dealerships: +2.2%
- Furniture and design: +0.7%
- Online shopping: +2.1%
- Catering and bars: +2%
In addition, 6 out of 10 U.S. consumers are planning at least one summer trip, with 35% planning to travel more than last summer. Spending on travel is also high again among businesses: 85 percent of companies in the United States are executing corporate travel (+20% from January) [Source: US Travel Association].
America's purchasing power is on the rise: here's why now is a good time to invest in the U.S.
U.S. consumers have $2 trillion more to buy consumer goods
Consumers have much more means at their disposal this year than expected. However, other factors are also allowing retail purchases to grow in the United States: wages have increased (+6.4% over 2021 with peaks of +11% in the restaurant and hotel sector) and the employment rate is at an all-time high. As a result, there are more people in America with wages and, overall, greater purchasing power.
In short, as much as the United States is one of the most competitive and difficult markets, the opportunities that Italian companies can find here are impossible to find elsewhere. Therefore, we recommend that you think and act fast to seize the business opportunities that are emerging in this historical period.