Our Navigator research provides you with valuable insights and opinions from businesses around the world. As part of that research, we asked more than 10,000 business decision-makers across 39 markets, countries and territories to tell us how the current crisis has affected them and changed their plans for the near to mid-term future.
Like all the respondents in our 2020 Navigator survey, businesses in the US are continuing to grapple with the impacts of COVID-19. Consumer spending has had a positive trend since May, but with a third wave of the virus underway, and further potential job reductions expected in certain industries, the economy is under renewed strain. Still, US firms remain optimistic and are focusing on investment priorities that will enable them to move forward and grow their businesses.
US businesses are less confident about business growth compared with last year. Yet the majority (72%) plan to boost investment next year, with two-thirds (69%) predicting a return to pre-COVID profitability levels by the end of 2021.
Sustainability is important to US companies. Around three-quarters have set environmental goals, and increasing numbers of companies have targets for diversity and executive pay. Compared with companies globally, US businesses remain more upbeat about cross-border trade. Europe and North America remain the country’s main international trading partners. Competitive pricing is seen as the way to overcome protectionism.
Supply chain security is cited as key to successful international trade. As a result, US businesses are increasingly choosing partners based on their ability to ensure speed of delivery and resilience, whatever the market conditions.
|Adapting to a changing environment||51%||58%|
|Thriving in the new normal||21%||24%|