domestic market
Home country economy
Literally: Home-related buying and selling area
Use `domestic market` to describe business activities happening inside your own country's borders.
In 15 Seconds
- Refers to customers and trade within your own home country.
- The opposite of international or overseas business operations.
- Used commonly in business, news, and economic discussions.
Meaning
The domestic market is simply the business and customers located within your own country. It is the 'home field' where local companies sell their goods before trying to go global.
Key Examples
3 of 6Discussing a local brand with a friend
This coffee brand is huge in the domestic market, but no one knows them abroad.
This coffee brand is huge in the domestic market, but no one knows them abroad.
A formal business presentation
Our goal this year is to capture 20% of the domestic market.
Our goal this year is to capture 20% of the domestic market.
Texting a colleague about a new competitor
A new player just entered the domestic market, and they are cheap!
A new player just entered the domestic market, and they are cheap!
Cultural Background
The term 'domestic' comes from the Latin 'domus' meaning house. In a globalized world, the domestic market is often seen as a safety net for companies when international trade gets messy or expensive. Many countries use 'Buy Local' campaigns to protect their domestic market from foreign competition.
The 'JDM' Secret
Car fans often use the acronym JDM (Japanese Domestic Market) to talk about cool cars only sold in Japan. You can sound like an expert by using this!
Don't get too 'Domestic'
Remember, 'domestic' also means 'related to the home.' If you say 'domestic issues,' people might think you are talking about your marriage, not the economy!
In 15 Seconds
- Refers to customers and trade within your own home country.
- The opposite of international or overseas business operations.
- Used commonly in business, news, and economic discussions.
What It Means
Think of the domestic market as your home turf. It represents all the people in your own country who buy products. If you live in Italy and sell shoes to people in Rome, you are working in your domestic market. It is the opposite of the international or foreign market. It feels safe and familiar because you know the language and the rules.
How To Use It
You use this phrase when talking about business or the economy. You can say a company is 'dominating the domestic market' or 'expanding beyond the domestic market.' It functions as a noun. You can also use it to explain why a product is cheap or expensive. For example, 'We use local materials for the domestic market.'
When To Use It
Use it in a meeting when discussing sales figures. Use it when chatting with friends about why a local brand is so successful. It is perfect for news discussions about the economy. You might even use it when texting a friend about a cool new local startup. It sounds smart but is easy to understand.
When NOT To Use It
Do not use it to talk about your actual house or chores. If you are cleaning your kitchen, you are not 'working on the domestic market.' That would be very confusing! Also, avoid it in very intimate, romantic settings. Telling your partner they are the 'leader of your domestic market' is a weird way to say you love them. Stick to business and shopping contexts.
Cultural Background
In English-speaking cultures, there is often a huge pride in the domestic market. Terms like 'Made in the USA' or 'British Made' are huge selling points. People often feel a sense of duty to support local businesses. This phrase became very popular as globalization grew. It helped people distinguish between 'us' (home) and 'them' (the rest of the world).
Common Variations
You might hear people say home market or internal market. These mean almost the exact same thing. In the US, people sometimes say the US market specifically. In the UK, you might hear the UK market. Domestic demand is another cousin of this phrase. It refers to how much people at home want to buy.
Usage Notes
The phrase is widely used in business and journalism. It is safe for all professional environments, but avoid using it when talking about private household matters to prevent confusion.
The 'JDM' Secret
Car fans often use the acronym JDM (Japanese Domestic Market) to talk about cool cars only sold in Japan. You can sound like an expert by using this!
Don't get too 'Domestic'
Remember, 'domestic' also means 'related to the home.' If you say 'domestic issues,' people might think you are talking about your marriage, not the economy!
Home-Grown Pride
In many English-speaking countries, 'domestic' is often used interchangeably with 'home-grown' when talking about food or talent.
Examples
6This coffee brand is huge in the domestic market, but no one knows them abroad.
This coffee brand is huge in the domestic market, but no one knows them abroad.
Shows the contrast between local fame and international obscurity.
Our goal this year is to capture 20% of the domestic market.
Our goal this year is to capture 20% of the domestic market.
Used here to define a specific business target.
A new player just entered the domestic market, and they are cheap!
A new player just entered the domestic market, and they are cheap!
Informal way to discuss market competition.
My lemonade stand failed because the domestic market (my parents) stopped buying.
My lemonade stand failed because the domestic market (my parents) stopped buying.
Uses the formal term in a silly, small-scale context.
I'm worried that the domestic market is shrinking because prices are so high.
I'm worried that the domestic market is shrinking because prices are so high.
Reflects genuine concern about local economic health.
That car was only produced for the Japanese domestic market.
That car was only produced for the Japanese domestic market.
Commonly used in the car industry (JDM).
Test Yourself
Choose the best word to complete the sentence about a local business.
Since we don't export our goods, we rely entirely on the ___ market.
The 'domestic market' refers to the national economy where a company sells its products.
Identify the opposite of the domestic market.
The company is successful at home, but they are struggling in the ___ market.
Foreign or international markets are the opposite of the domestic market.
🎉 Score: /2
Visual Learning Aids
Formality of 'Domestic Market'
Talking about local shops.
The local market is great.
General business talk.
We focus on the domestic market.
Economic reports.
Domestic market volatility is increasing.
Where to use 'Domestic Market'
News Report
Domestic market growth slowed down.
Job Interview
I have experience in the domestic market.
Car Enthusiasts
Is this a domestic market model?
Grocery Shopping
Supporting the domestic market is important.
Frequently Asked Questions
11 questionsIt is the customers and businesses located within your own country. For example, if you live in Canada, the Canadian economy is your domestic market.
It is neutral to formal. You can use it in a professional meeting or a serious conversation about the news, but it's not too 'stiff' for a casual chat.
Usually, no. It typically refers to the whole country. For a town, you would just say the local market.
The opposite is the international market, foreign market, or overseas market.
Car makers often build different versions of cars for different countries. A domestic market version has features specific to the laws and tastes of that home country.
Yes, home market is a more casual way to say the same thing. You can use them interchangeably in most situations.
No. While 'domestic' means home-related, the phrase domestic market is strictly an economic and business term.
You could say, 'Our sales in the domestic market are up by 10% this year.' This sounds very professional.
Yes, it is very common. You will hear it often when news anchors talk about trade wars or national economic growth.
It applies to both! Whether you sell software, haircuts, or oranges, if you sell them in your country, you are in the domestic market.
A common mistake is saying 'the domestic' without the word 'market.' You must include market to make the meaning clear.
Related Phrases
Home-grown
Produced or developed in one's own country or garden.
Emerging market
A national economy that is becoming more advanced and engaged with global markets.
Local business
A small company that operates in a specific town or area.
Global trade
The exchange of goods and services between different countries.
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