E-commerce sales for Electronics and Appliance Stores in the US have shown a fluctuating trend over the past decade, characterized by periods of growth and decline. The market stood at $2.42 billion in 2023. Significant annual variations include declines in 2016 and 2020, with the latter experiencing a substantial drop of 14.72%. Recovery was evident in 2021 with a 17.46% increase, followed by a more moderate growth of 7.91% in 2022. The average annual growth rate (CAGR) over the last five years was 2.63%, indicating steady albeit modest growth.
Future forecasts predict a gradual increase in sales, reaching $2.71 billion by 2028, with an expected CAGR of 1.83% over the next five years. Overall growth rate from 2024 to 2028 is projected at 9.49%, suggesting a stable upward trend.
Key trends to watch for include advancements in e-commerce technology, the impact of supply chain innovations, and evolving consumer preferences towards online shopping. The market's ability to adapt to changing economic conditions and technological innovations will be crucial for sustained growth.