• American average gross margin for 2023 was 23.72%, a 27.26% decline from 2022.
• American average gross margin for 2022 was 32.61%, a 40.38% decline from 2021.
• American average gross margin for 2021 was 23.23%, a 10.15% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.