The Latest Retail Industry Statistics Explained
E-commerce sales accounted for 16.1% of global retail sales in 2020.
This statistic indicates that in 2020, e-commerce sales made up approximately 16.1% of the total global retail sales, highlighting the significant growth and impact of online shopping in the retail industry. This suggests that a notable portion of consumer spending on retail goods was conducted through online platforms rather than traditional brick-and-mortar stores. The rise of e-commerce sales can be attributed to factors such as convenience, a wider range of products, competitive pricing, and the shift towards digitalization accelerated by the COVID-19 pandemic. As technology continues to advance and consumer behavior evolves, e-commerce is expected to further increase its market share in the retail sector.
In 2021, global retail sales are projected to amount to 26.69 trillion U.S. dollars.
The statistic indicates that the total value of retail sales worldwide in 2021 is estimated to reach 26.69 trillion U.S. dollars. This figure represents the aggregate value of goods and services sold by retailers to consumers across various industries and markets on a global scale within the specified year. The projection suggests a significant level of economic activity and consumer spending, reflecting the overall health and performance of the global retail sector. This statistic can be used to assess trends in consumer behavior, economic growth, and market competitiveness, providing valuable insights for businesses, policymakers, and analysts looking to understand and navigate the retail landscape in the given year.
The total U.S. retail sales in 2020 reached $5.62 trillion.
The statistic that total U.S. retail sales in 2020 reached $5.62 trillion indicates the cumulative value of all goods and services sold to consumers within the United States during that year across various retail channels, including physical stores, e-commerce platforms, and direct selling. This significant figure underscores the size and importance of the retail sector in the U.S. economy, serving as a key indicator of consumer spending patterns, economic health, and overall market activity. The data provides valuable insights for businesses, policymakers, and analysts in understanding consumer behavior, market trends, and forecasting future economic conditions.
The average weekly sales in U.S. department stores is $15 billion as of 2020.
The statistic that the average weekly sales in U.S. department stores is $15 billion as of 2020 indicates the typical amount of revenue generated by department stores on a weekly basis. This metric provides insight into the overall economic activity and consumer spending habits within the retail sector. It suggests that department stores are significant players in the economy, contributing substantial revenue to the market. This information can be used by analysts, policymakers, and businesses to assess the health of the retail industry and make informed decisions regarding investments, marketing strategies, and economic forecasts.
Online retail categories that saw the highest year-on-year growth in 2020 were Food & Beverage and Furniture and Housewares.
The statistic indicates that in the year 2020, the online retail categories of Food & Beverage and Furniture and Housewares experienced the most significant year-on-year growth compared to other categories. This suggests that consumer demand for purchasing food and beverages as well as furniture and houseware items online notably increased over the given year. The trend may be influenced by factors such as the COVID-19 pandemic leading to more people conducting their shopping online, shifting preferences towards home-related purchases, and advancements in e-commerce technology making it easier and more convenient to make these types of purchases online. This information could be valuable for retailers and marketers looking to understand changing consumer behavior and trends in the online retail landscape.
In the second quarter of 2021, the retail e-commerce market in the U.S. was worth 215.38 billion U.S. dollars.
The statistic indicates that in the second quarter of 2021, the total value of retail e-commerce sales in the United States reached 215.38 billion U.S. dollars. This figure represents the amount of money spent by consumers on goods and services through online platforms during that specific time period. The significant size of the market highlights the continued growth and importance of e-commerce in the retail sector, particularly accelerated by the COVID-19 pandemic as more consumers turned to online shopping. Understanding this statistic can provide insights into consumer behavior, market trends, and the overall economic impact of e-commerce on businesses and the broader economy.
By 2023, the retail e-commerce market is expected to be worth around $6.5 trillion.
The statistic indicates that by the year 2023, the retail e-commerce market is projected to reach a total value of approximately $6.5 trillion. This implies a substantial growth in the online retail sector, reflecting the increasing popularity and widespread adoption of e-commerce platforms for shopping purposes. Factors contributing to this growth may include advancements in technology, changes in consumer behavior towards online shopping, and the expansion of internet access globally. The figure signifies the significant market potential and economic opportunities within the e-commerce industry, suggesting a trend towards continued growth and expansion in the coming years.
Despite growth in e-commerce, brick-and-mortar stores are still most important for consumers globally, with a 82.4% purchase rate in 2020.
The statistic indicates that despite the increasing popularity and convenience of e-commerce, traditional brick-and-mortar stores remain highly significant for consumers worldwide. In 2020, a substantial 82.4% of consumer purchases were still made in physical stores. This data suggests that while online shopping is on the rise, the majority of consumers value the in-person shopping experience provided by brick-and-mortar stores. Factors such as the ability to see and touch products before purchase, instant gratification of taking items home immediately, and personalized customer service likely contribute to the continued prevalence of physical retail locations in the global consumer landscape.
Black Friday still generates the highest sales among retail holidays in the U.S, hitting $9 billion in online sales in 2020.
The statistic indicates that Black Friday remains a significant driver of sales for retailers in the United States, with online sales reaching $9 billion in 2020. This suggests that despite the growing popularity of other retail holidays such as Cyber Monday and Prime Day, Black Friday continues to outperform them in terms of total sales generated. The $9 billion figure underscores the continued importance of Black Friday in the retail industry, showcasing its ability to attract consumers and drive substantial revenue for businesses. This statistic highlights the enduring significance of Black Friday as a major retail event in the U.S. calendar.
In the U.S., an estimated 15,542 stores were closed in 2020 due to the COVID-19 pandemic.
The statistic that an estimated 15,542 stores were closed in the U.S. in 2020 due to the COVID-19 pandemic reflects the significant economic impact of the pandemic on the retail sector. These closures were likely driven by mandated lockdowns, reduced consumer spending, and overall uncertainty about the future, leading many businesses to shutter their doors. The widespread closures not only resulted in job losses and financial hardships for business owners but also contributed to broader economic challenges at both local and national levels. As such, this statistic serves as a stark reminder of the far-reaching consequences of the global health crisis on businesses and livelihoods across the country.
Global mobile retail commerce revenue was 2.91 trillion U.S. dollars in 2020 and is projected to reach 3.56 trillion U.S. dollars in 2021.
The statistic indicates that the total revenue generated from mobile retail commerce worldwide was 2.91 trillion U.S. dollars in 2020 and is expected to increase to 3.56 trillion U.S. dollars in 2021. This represents a significant growth in the mobile retail sector, reflecting the increasing trend of consumers purchasing goods and services through their mobile devices. The projected increase of approximately 23% in revenue from 2020 to 2021 highlights the substantial role that mobile commerce plays in the global retail industry, demonstrating its importance as a key driver of sales and revenue for businesses across various sectors.
In the first half of 2020, consumers in the U.S. spent $347.26 billion online with U.S. retailers.
The statistic indicates that in the first half of 2020, consumers in the United States collectively spent a substantial sum of $347.26 billion on online purchases made through U.S. retailers. This figure highlights the significant shift towards e-commerce as a preferred shopping method, especially during the COVID-19 pandemic when many physical stores were temporarily closed or operating under restrictions. The surge in online spending reflects not only the convenience of shopping from home but also the increasingly digital nature of retail transactions. Additionally, this statistic underscores the economic importance of online shopping to U.S. retailers and the overall economy, shaping consumer behavior and retail trends.
The U.S. still has the highest number of retail stores, with a total of 319,000 in 2019.
The statistic reveals that in 2019, the United States maintained its position as the leading country in terms of the total number of retail stores, with a staggering 319,000 establishments operating across various sectors. This statistic indicates the significant presence and continued importance of the retail industry within the U.S. economy. The high number of retail stores serves as a testimony to the robust consumer demand in the country and the diverse retail landscape catering to a wide range of products and services. As a critical component of the economy, these retail stores play a crucial role in providing employment opportunities, generating revenue, and shaping consumer preferences within the U.S. market.
In 2018, consumers made 22.5 billion store visits in the U.S.
The statistic “In 2018, consumers made 22.5 billion store visits in the U.S.” indicates the total number of visits made by consumers to various retail stores within the United States in the year 2018. This statistic provides insight into consumer behavior and shopping trends, highlighting the significant volume of foot traffic that physical retail locations experienced during that year. The high number of store visits suggests a strong level of consumer engagement with brick-and-mortar stores, indicating the importance of the physical shopping experience despite the growth of online retail channels. Analyzing such data can help retailers better understand consumer preferences, optimize store layouts, and enhance overall customer satisfaction and loyalty.
In 2021, the average value of abandoned cart is $429.54 globally.
The statistic ‘In 2021, the average value of abandoned cart is $429.54 globally’ represents the average monetary value of items that are left in online shopping carts without completing the purchase, across various regions and industries worldwide. This figure indicates the potential revenue loss for online businesses due to uncompleted transactions and offers insights into consumer behavior regarding online shopping habits. By understanding the average value of abandoned carts, companies can evaluate the effectiveness of their e-commerce platforms, optimize their checkout processes, and implement strategies to minimize cart abandonment rates in order to improve their overall sales and revenue.
Walmart is the world’s leading company in terms of retail revenue, with 524 billion U.S. dollars in 2020.
The statistic that Walmart is the world’s leading company in terms of retail revenue, with 524 billion U.S. dollars in 2020, indicates that Walmart generated the highest amount of revenue among all retail companies globally that year. This reflects Walmart’s dominant position in the retail industry, showcasing its significant market share and consumer reach. The substantial revenue figure further underscores Walmart’s success in attracting customers and driving sales through its vast network of stores and online platforms. Additionally, Walmart’s strong financial performance highlights its ability to effectively manage operations, supply chains, and marketing strategies to maintain its position at the forefront of the retail sector.
Almost 51% of retailers plan to use AI for customer service in the next three years.
The statistic indicates that nearly half of retailers, specifically 51%, intend to implement artificial intelligence (AI) in their customer service operations within the next three years. This suggests a significant trend towards utilizing AI technology to enhance and improve the customer service experience in the retail industry. The adoption of AI in customer service can lead to benefits such as increased efficiency, personalized interactions, and quicker responses to customer inquiries. By incorporating AI, retailers aim to stay competitive in the market, meet evolving consumer expectations, and ultimately drive better customer satisfaction and loyalty.
In 2021, the average purchase value for e-commerce globally is $126.23.
The statistic indicates that, on average, customers spent $126.23 per purchase on e-commerce platforms worldwide in the year 2021. This figure serves as a benchmark to understand the typical amount customers are willing to spend when shopping online. It reflects the aggregate spending behavior of consumers across various e-commerce sites and industries, providing insights into overall purchasing power and trends in the digital retail landscape. Businesses can use this statistic to evaluate their pricing strategies, tailor marketing efforts, and gauge the competitiveness of their pricing offers in relation to the global average.
References
0. – https://www.www.digitalcommerce360.com
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2. – https://www.www.emarketer.com
3. – https://www.www.statista.com
4. – https://www.www.salescycle.com
5. – https://www.www.capgemini.com
6. – https://www.www.oberlo.com
