According to the new study Shopping & Dining Consumer Insights, the US is the second largest e-commerce market in the world, with online sales in 2021 totaling $736 billion. E-commerce has been quick to develop in the US due to the country’s:
- cultural preference for convenience
- highly developed network of stores and malls
- consumers with a tendency to spend significant amounts of time online
E-commerce sales in the US are forecast to expand 9.8% annually to $1.2 trillion in 2026. The massive size of this market means that gains will be substantial, and although online sales have advanced rapidly, they still account for only a small share of overall retail activity.
Opportunities for increasing US e-commerce sales include expanding marketing and shopping through social media. Although these platforms are already established in some countries (such as China, where direct payments are offered via social media apps such as WeChat), they have a lower penetration in the US.
The most common products shipped via e-commerce include health and beauty products (including pharmaceuticals), clothing and accessories, and electronics. Most products will register strong growth in e-commerce sales.