The US Online Shopping Market size was estimated at USD 850 billion in 2022 and is anticipated to reach around USD 1900 billion by 2032, growing at a CAGR of roughly 16% between 2023 and 2032.
CMI research report offers a 360-degree view of the US Online Shopping market’s drivers and restraints, coupled with the impact they have on demand during the projection period. Also, the report examines opportunities and competitive analysis for the US Online Shopping market.
US Online Shopping Market: Overview
By 2022, it is anticipated that 90.8% of US citizens will have used any device or place to access the internet. Along with increases in mobile-cellular and fixed-broadband subscribers, the active mobile broadband subscriptions per 100 residents are rising, up 18.4% year over year. Consumer income levels have increased, which is the cause of this surge. The industry for business-to-consumer e-commerce is anticipated to grow as a result.
In order to compete in the new environment, American businesses are taking digital wallet financing from well-known service providers, including PayPal, Amazon Pay, Quick Book, Google Pay, Xerox, and Zendesk. Consumers are avoiding possible hygiene problems related to handling coins and notes in this COVID-19 pandemic as the number of COVID-19 cases in the United States climbs.
Browse the full “US Online Shopping Market Size, Trends and Insights By Category (Computer and Consumer Electronics, Fashion & Apparel, Furniture & Home, Food & Beverage, Beauty & Personal Care, Others), and By Region – Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032″ report at https://www.custommarketinsights.com/report/us-online-shopping-market/
An increasing trend in the US e-commerce business is the prevalence of mobile shopping. The most common online purchase in the US is a smartphone. This substantial mobile customer base impacts mobile commerce revenue, which is anticipated to represent close to 6% of retail sales in 2022.
Over the projected period, the global B2C e-commerce market is anticipated to grow faster due to the rising usage of technologies like IoT and machine learning in the healthcare industry. The development of low-cost smartphones, the expansion of the telecom infrastructure, and the rise in the number of product launches with increasingly sophisticated features are all to blame for this. However, escalating digital fraud, cybercrime, and other wrongdoings could soon restrain industry expansion.
After 2020, companies want to increase their conversion rates by optimizing their product pages. Additionally, using Google shopping ads or Facebook advertising in conjunction with multichannel selling is another strategy to increase conversions.
The pandemic brought forth new trends, such as a rise in at-home consumption, internet purchasing in this market, and online consumer shopping. Rather than ordering ready-made meals during the epidemic, many people ordered food online and created their meals. Due to the potential of infection via banknotes, there is a tendency toward more online payments and less cash on delivery.
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The market for US Online Shopping is segmented into categories. The fashion & apparel segment is expected to witness a considerable CAGR during 2023-2032. Shein.com, the top online retailer in this industry, produced US $5.8 billion in revenue in 2022 from sales in the US fashion market. Amazon.com is in first place with a revenue of $5 billion, followed by macys.com in second with approximately $5.6 billion in sales. Within the top 100 stores in the particular segment, the top three online retailers collectively hold around 20% of the market.
Competitive Landscape/ Key Players Insights
Leading businesses in the US Online Shopping sector are focusing on ongoing innovation to differentiate themselves from the competition and tailor their product offerings for prospective clients. These businesses mostly use mergers and acquisitions, product launches, and partnerships to enter and compete in the travel industry.
Some of the prominent players
- Home Depot
- Best Buy
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