The forecasted data predicts a steady increase in the value added by the US retail sector (excluding motor vehicles and motorcycles) from 2024 to 2028. Compared to an estimated base of $1.06 trillion in 2023, the figures suggest a year-on-year growth rate: 7.33% in 2024, 7.34% in 2025, 6.75% in 2026, and 6.26% in 2027, reflecting a consistent upward trend. The compound annual growth rate (CAGR) from 2023 through 2028 is approximately 7.08%, indicating a robust growth trajectory for the retail industry.

Future trends to watch for:

The rise of e-commerce and digital transformation impacting traditional retail dynamics.
Shifts in consumer preferences towards sustainable and locally sourced products.
Technological advancements in logistics and supply chain management.
Impact of economic policies and inflation on consumer spending.