In 2024, US retail sales excluding motor vehicles and parts dealers are forecasted to reach 4.5287 trillion dollars. Looking forward, the sector is expected to experience steady growth, reaching 4.8647 trillion dollars by 2028. This indicates an average annual growth rate of approximately 1.8% over the five-year period from 2024 to 2028. Examining the year-on-year growth, the retail market shows an incremental growth pattern with consistent annual increases, reflecting a stable expanding trend.
Future trends to watch include the impact of e-commerce on traditional retail, changes in consumer behavior, and economic variables such as inflation and employment rates. Additionally, technology-driven personalization and sustainability practices will likely shape retail strategies.
