US Ecommerce Growth

The United States is the second-largest market for E-Commerce, with a revenue of US$599.2 billion in 2021, placing it ahead of Japan and behind China.

With an increase of 11%, the U.S. eCommerce market contributed to the worldwide growth rate of 15% in 2021. Like in the United States, global E-Commerce sales are expected to increase over the following years. As new markets emerge, global growth will continue over the following years. 

Hence, we’ve listed the most important stats and facts to know in 2022. 

US Ecommerce Growth Stats Highlights

1. E-commerce sales in the U.S. grew by 39% in the first quarter.
2. E-commerce sales grew 9.3% in the second quarter of 2021.
3. U.S. retail E-commerce product sales are projected to surpass $1 trillion in 2022.
4. Statista projects that E-commerce sales will grow by a further 8.1% globally.
5. By 2030, E-commerce sales are projected to account for 43% of overall retail sales.
6. The U.S. boasts E-commerce globally—with a revenue of $538 billion.

US Ecommerce – Key Stats

E-commerce sales in the U.S. grew by 39% in the first quarter.

E-commerce sales grew by 39% between Q1 of 2020 and Q1 of 2021. Digital advertising spending is forecasted to increase 25% to $191 billion this year. Google, Facebook, Snapchat, and Twitter reported rapid growth. Digital commerce makes up 20% of all retail sales, up from 15% last year. 

E-commerce sales grew 9.3% in the second quarter of 2021.

Companies of all shapes and sizes are seeking effective strategies to help boost their ECommerce business, especially in such an oversaturated market. According to Levitt, these stats have been accelerated by Covid-19 as most consumers were forced to buy goods and groceries online, many of whom were adopting online shopping for the first time.

U.S. retail e-commerce product sales are projected to surpass $1 trillion in 2022.

It’s accurate that e-commerce growth is slowing amid inflation and lowered pandemic fears. But for the initial time in history, U.S. retail e-commerce product sales are projected to surpass $1 trillion in 2022, according to eMarketer latest reports. A single sector in distinct is leading the way. According to the inaugural e-commerce marketplace, the fashion and attire sector has significantly become a North American e-commerce powerhouse in 2022. BigCommerce surveyed the thousands of e-commerce retailers on its system to determine which industries marketed the most on the internet in the 1st quarter of 2022. It uncovered trends and clothing considerably outpaced general e-commerce sales in the northern U.S.

By 2024 E-commerce sales are set to grow by a further 8.1% globally.

There’s no sign of people reverting to traditional shopping habits. Many marketers believe the sector will continue to boom over the coming years. 

By 2030, e-commerce sales are projected to account for 43% of overall retail sales.

E-Commerce sales were $870 billion in the U.S. in 2021, a 14.2% increase over 2020 and a 50.5% increase over 2019. E-Commerce represented 13.2% of all retail sales in 2021 in the U.S. Over the past two years, the fastest-growing category of e-commerce sales were furniture, building materials, and electronics, cumulatively growing more than 200% since 2019. Food and beverage e-commerce grew 170%, representing 9.6% of all grocery sales in 2021, according to eMarketer. Apparel was one of the few categories of e-commerce to grow slower than the industry average at 39%.

The U.S. boasts e-commerce globally—with a revenue of $538 billion.

The U.S. E-Commerce market is thriving, and the shift toward digital commerce in the United States has been accelerated by the pandemic. During the pandemic, the e-commerce industry felt the shift as more people than ever made online purchases. The United States boasts the second-largest market for e-commerce globally—with a revenue of $538 billion in 2020, only China is ahead in terms of overall value. Like all global markets, COVID-19 accelerated the need for U.S. brands to embrace e-commerce at a rate no one could have predicted. Throughout the pandemic, global e-commerce sales grew by more than 25%. As a result, the U.S. is predicted to deliver its first-ever trillion-dollar year in 2022. 

Other Important U.S. E-Commerce Stats

• 57% of U.S. digital buyers say they sometimes use a retailer’s app to check prices when shopping in that particular store.
• The U.S. is the second-largest eCommerce market worldwide.
• China generates $351.65 billion in revenue from retail E-Commerce sales on social, ten times more than the United States.
• Shopify is the E-Commerce company with the highest market cap (182.1 billion U.S. dollars by June 2021).
• Almost 30% of U.S. internet users purchased directly from a social platform in 2020.
• The E-Commerce industry is growing 23% year-over-year, yet 46% of American small businesses still don’t have a website.

Conclusion

A pandemic accelerated the adoption of e-commerce growth in the U.S… The pandemic has made many business owners rethink their approach to driving sales, and the popularity of E-Commerce is likely to continue to increase over the next few years. These statistics are just one perspective on the industry. It has been growing fiercely every year, with retail sales growing yearly. 

We hope you found these E-Commerce statistics enlightening, and hopefully, they’ve made you appreciate how vital digital and online retail is for the future.

Sources

https://www.digitalcommerce360.com/article/quarterly-online-sales/

https://www.oberlo.com/statistics/us-ecommerce-sales

https://www.statista.com/statistics/272391/us-retail-e-commerce-sales-forecast/

https://www.insiderintelligence.com/content/us-ecommerce-forecast-2021