The US Nonstore Retailers E-commerce sales have demonstrated significant growth from $221.88 billion in 2013 to $511.42 billion in 2023. The year-on-year growth peaked at 16.91% in 2017, followed by a notable slowdown in growth rates starting in 2018 with a temporary dip in 2022 highlighted by a contraction of -0.59%. The overall compound annual growth rate (CAGR) has thus diminished, reflected in a 5-year CAGR of 4.71% up to 2023.
Future trends to watch for:
- Expected CAGR from 2023 to 2028 stands at 2.64%, indicating a steady but slower growth trajectory.
- By 2028, sales are forecasted to reach $607.42 billion, amounting to a 13.93% increase over the forecast period.
- Shifts in consumer behavior, advancements in technology, and increased competition from a broader array of retailers may influence market dynamics.
- Evolving logistics and supply chain capabilities will play a critical role in enabling continued e-commerce growth.