The United States has the most well-developed consumer economy in the world, with approximately US$13.2 trillion in annual consumer spending, the world’s highest per-household spending, and retail space per capita that is more than twice that of the most retail-heavy European country. Not surprisingly, the U.S. has developed a sophisticated regulatory framework focused on consumer protection, product safety, ensuring fair competition, and encouraging innovation. While entering the U.S. environment can be a game changer for businesses in the consumer industry, it comes with some significant legal risks.
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