A 'bigger bang for your buck'.
The USA sports market is simply massive. The worlds largest single market by far. For professional sports it's valued at approximately $70 billion, roughly 50% larger than that of Europe, the Middle East, and Africa combined. If you have ever considered business into the USA then the size of sport here will simply stun.
USA's most popular sports,
- American Football (NFL)
- Baseball (MLB)
- Basketball (NBA)
- Ice Hockey (NHL)
- Soccer (Football)
The worlds most valuable sports teams
- Dallas Cowboys (1)
- New York Yankees (2)
- New York Knicks (3)
- Golden State Warriors (6)
- Los Angeles Lakers (7)
- New England Patriots (8)
- New York Giants (9)
- Los Angeles Rams (13)
- San Francisco 49ers (15)
The United States is constantly ranked as among the best for its overall competitiveness and ease of doing business. It is backed by a strong regulatory environment that is positive towards to starting and operating a business. The business culture encourages free enterprise and competition. They say that a new business is born every minute in the US, a free enterprise and encouraging open economic growth.
At Sportzplanet we will help identify and capture the right opportunity . At Sportzplanet we will invest the time it takes to understand your goals and challenges.
Our tip - understand State laws as these vary between states. In the USA you may not be dealing with one national law. And you should always carry insurance.
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Asian Americans in mobile consumption
Asian Americans spend 2.3 hours streaming music and 1.3 hours listening to podcasts on average, as per Pandora’s recent report. The report finds that 62% of Asian Americans feel brands would be more relevant to Asian Americans by reflecting their lifestyle. 52% of the demographic are more attentive towards ads featuring Asian Americans.
50% of Asian Americans believe brands could feature people from diverse cultural backgrounds. 44% of respondents want brands to be honest in how they reflect their culture. Of those polled, 80% say they feel empowered by positive representation of Asians in media.
Also, 54% wished for more US-based content aligned with the Asian culture. When it comes to music, 86% of Asian Americans find it to be relaxing, and 79% say that it improves their mood. 43% find music to be motivating.
Small business in the US
There are 30.7 million small businesses in the U.S. which account for 99.9 percent of all U.S. businesses (SBA, 2019).
The Small Business Administration (SBA) defines a small business as a firm which has fewer than 500 employees. This means that many highly valued startups in the U.S fit within this definition of small businesses.
The definition of a small business varies across the world. For comparison, in the European Union any business that has fewer than 50 employees is considered a small business. In Australia, companies with fewer than 15 employees are considered small businesses.
Small business stats show that most businesses in America have fewer than 500 employees. Those businesses with fewer than 100 employees account for 98.2 percent, and those with fewer than 20 employees account for 89 percent of all businesses in the country.
The US Economy
There are a few key components of the U.S. economy. These different economic indicators help us understand how the U.S. economy is doing.
Gross domestic product (GDP): $22.0 trillion (annualised nominal rate for first quarter, or Q1, 2021)1
GDP growth rate: 6.4% (annualised rate for Q1 2021)2
Real GDP per capita: $57,664 (Q1 2021)3
Gross national income: $21.6 trillion PPP dollars (2019)4
Unemployment rate: 6.0% for March 20215
Minimum wage: $7.25 per hour6
Currency: United States Dollar
Euro-to-dollar conversion: $1.20 as of May 20217
Core inflation rate: 1.6% year-over-year core rate for March 20218
The US Economy
The sporting goods market in the United States is a billion dollar industry. Sporting goods store sales in the US alone amount to more than 40 billion U.S. dollars annually.
This includes many different product types such as athletic footwear, exercise equipment, licensed sports merchandise, and athletic apparel but does not include recreational transportation items such as bicycles, pleasure boats, RVs and snowmobiles.
The United States is the biggest market in sports apparel and footwear holding the lion share of the market with over thirty percent.