The sales of General Merchandise Stores in the US have exhibited fluctuating yet generally upward trends from 2013 to 2023. Sales began at $651.87 billion in 2013 and rose to $744.47 billion in 2023. The Compound Annual Growth Rate (CAGR) over the last five years stands at a modest 1.35%. Notably, there was a significant dip in 2020 with a -15.84% year-on-year decline, attributed to the pandemic, followed by a sharp recovery of 16.01% in 2021.
Future projections indicate a steady but slower growth with the following points:
- Forecasted CAGR from 2023 to 2028 is 1.01%.
- Total growth rate forecast over the next five years is 5.16%.
Future trends to watch for include the impact of e-commerce, shifts in consumer preferences towards online shopping, and potential macroeconomic influences such as inflation and changes in disposable income.
