The Retail (Except of Motor Vehicles and Motorcycles) Gross Value Added in the US is forecasted to experience steady growth from 2024 to 2028, with values rising from $1.1463 trillion to $1.4772 trillion. From 2024 to 2025, a year-on-year growth of approximately 7.34% is projected. The upward trend continues over the following years, with similar growth rates, culminating in a compound annual growth rate (CAGR) that equates to around 6.54% over the five-year period.
Future trends to watch for:
- Impact of technological advancements on retail operations and efficiency.
- Expanded e-commerce influence and its effects on brick-and-mortar stores.
- Shifts in consumer preferences towards sustainable and ethical products.
- Potential regulatory changes affecting retail business practices.
