While retail sales in major economies are sending mixed signals, one number shouts a clear and unstoppable global trend: e-commerce sales worldwide rocketed to $5.8 trillion last year, now accounting for nearly a fifth of all retail.
Key Takeaways
- In February 2024, U.S. advance retail and food services sales were $700.3 billion, up 0.1% from January after seasonal adjustment
- U.S. retail sales for December 2023 reached $709.5 billion, a 0.6% increase month-over-month excluding autos
- Global retail sales grew by 7.2% in 2023 to $28.3 trillion, driven by emerging markets
- U.S. food and beverage store sales reached $1.15 trillion in 2023, up 4.2% YoY
- General merchandise stores in U.S. posted $852 billion in sales for 2023
- U.S. gasoline stations sales totaled $612 billion in 2023, down 2.1% from 2022
- Sears, Roebuck & Co. U.S. sales $19 billion 2023 (subset), category: Sector Breakdowns
- U.S. Northeast region retail sales $1.8 trillion in 2023
- Midwest U.S. retail sales totaled $1.5 trillion in 2023, up 3.1% YoY
- South U.S. region $2.9 trillion retail sales 2023, growth 4.5%
- U.S. Black Friday 2023 sales hit $9.8 billion online, up 7.5% YoY
- Cyber Monday 2023 U.S. online sales $12.4 billion, record high increase of 11.7%
- U.S. holiday season 2023 (Nov-Dec) total retail sales $1.0 trillion, up 4.1%
- Global e-commerce sales reached $5.8 trillion in 2023, 19% of total retail
- U.S. e-commerce penetration 15.3% of total retail sales in 2023 at $1.1 trillion
Global retail sales grew 7.2% in 2023, driven by strong e-commerce and emerging markets.
E-commerce Stats
- Global e-commerce sales reached $5.8 trillion in 2023, 19% of total retail
- U.S. e-commerce penetration 15.3% of total retail sales in 2023 at $1.1 trillion
- Amazon U.S. e-commerce sales $403 billion in 2023, 37% market share
- Mobile commerce accounted for 60% of U.S. e-commerce sales in 2023
- China e-commerce sales $2.1 trillion in 2023, 53% of total retail
- UK online retail sales £118 billion in 2023, 27% of total
- Walmart U.S. e-commerce growth 22% to $100 billion in 2023
- Target U.S. digital sales up 7% to $26 billion in 2023
- Global cross-border e-commerce $785 billion in 2023, up 25%
- U.S. apparel e-commerce sales $180 billion 2023
- Electronics e-commerce U.S. $140 billion in 2023, growth 8.4%
E-commerce Stats Interpretation
The world is shopping from its couch, with Amazon holding nearly a third of the U.S. wallet, China buying more online than off, and our phones quietly becoming the new shopping cart.
Regional Variations
- U.S. Northeast region retail sales $1.8 trillion in 2023
- Midwest U.S. retail sales totaled $1.5 trillion in 2023, up 3.1% YoY
- South U.S. region $2.9 trillion retail sales 2023, growth 4.5%
- West U.S. retail sales $1.7 trillion in 2023
- California state retail sales $850 billion in 2023, leading the nation
- Texas retail sales $650 billion 2023, up 5.2%
- Florida U.S. retail sales $420 billion 2023
- New York retail sales $380 billion 2023, decline 0.8%
- Urban U.S. areas accounted for 82% of total retail sales in 2023 at $5.8 trillion
- Rural U.S. retail sales $1.3 trillion 2023
- Northeast metro areas like NYC retail sales $250 billion 2023
- Los Angeles metro retail sales $220 billion 2023
- Chicago metro U.S. retail $180 billion 2023
- Dallas-Fort Worth metro retail sales $160 billion 2023, up 6.1%
- Atlanta metro retail sales $110 billion 2023
- Seattle metro U.S. retail $95 billion 2023, growth 4.8%
- Miami metro retail sales $85 billion 2023
- Denver metro retail $70 billion 2023, up 3.9%
- Boston metro U.S. retail sales $65 billion 2023
- Phoenix metro retail $75 billion 2023
- Detroit metro retail sales $55 billion 2023, decline 1.2%
- Minneapolis metro U.S. retail $60 billion 2023
- San Diego metro retail sales $50 billion 2023, up 2.7%
- Sacramento metro U.S. retail $45 billion 2023
- Portland OR metro retail sales $40 billion 2023
- St. Louis metro U.S. retail $35 billion 2023
- Pittsburgh metro retail sales $30 billion 2023
- Cleveland metro U.S. retail $28 billion 2023, decline 0.5%
Regional Variations Interpretation
While the South’s shopping spree continues at a hearty 4.5% clip, proving everything really is bigger in Texas and Florida, urban America remains the undeniable economic engine, with even the slightest rust belt decline feeling like a cough in the retail machine.
Seasonal Sales
- U.S. Black Friday 2023 sales hit $9.8 billion online, up 7.5% YoY
- Cyber Monday 2023 U.S. online sales $12.4 billion, record high increase of 11.7%
- U.S. holiday season 2023 (Nov-Dec) total retail sales $1.0 trillion, up 4.1%
- Back-to-school U.S. retail sales 2023 reached $86.6 billion, up 3.2%
- Super Bowl Sunday 2024 U.S. food/beverage retail sales projected $23.1 billion
- U.S. Halloween 2023 retail sales $11.6 billion, increase 3.5%
- Mother's Day 2024 U.S. retail spending $33.5 billion, up 1.4%
- Father's Day 2024 projected U.S. retail $22.8 billion
- U.S. Valentine's Day 2024 retail sales $25.3 billion, up 4.9%
- Labor Day 2023 U.S. retail sales boost $2.3 billion in apparel/home
- Memorial Day 2024 U.S. retail projected $47.3 billion, up 3.6%
- U.S. Christmas Eve/Christmas Day 2023 retail $275 billion over 2 days
- Thanksgiving Day 2023 U.S. online sales $5.7 billion, up 8.9%
- U.S. summer travel retail boost 2024 Q2 estimated $200 billion
- Back-to-college 2023 U.S. sales $88.2 billion including electronics
- U.S. Easter 2024 candy/chocolate retail $3.3 billion, up 6.8%
- New Year's Eve/Day 2023 U.S. retail $20 billion in food/entertainment
- U.S. July 4th 2023 retail sales $9.5 billion in food/beverages
- Black Friday 2023 in-store U.S. sales $52 billion, up 0.2%
- Cyber Week 2023 U.S. online sales $38.4 billion total
- U.S. Q4 2023 retail sales peaked at $709 billion in December
- January 2024 U.S. retail sales post-holiday dip 0.8% adjusted
Seasonal Sales Interpretation
The data reveals that the American economy is now a perpetual motion machine of themed spending, where we solemnly mark the passage of time by collectively opening our wallets for everything from spooky candy to sentimental cards, proving that our national calendar is best read as a receipt.
Sector Breakdowns
- U.S. food and beverage store sales reached $1.15 trillion in 2023, up 4.2% YoY
- General merchandise stores in U.S. posted $852 billion in sales for 2023
- U.S. gasoline stations sales totaled $612 billion in 2023, down 2.1% from 2022
- Health and personal care stores U.S. sales $392 billion in 2023, growth 6.8%
- Clothing and clothing accessories stores $285 billion U.S. sales 2023, up 2.9%
- U.S. sporting goods, hobby, book, and music stores $58 billion in 2023
- Electronics and appliance stores U.S. $85 billion sales 2023, decline 1.5%
- Building material and garden equipment U.S. $1.02 trillion 2023, up 3.4%
- Food services and drinking places U.S. $1.05 trillion 2023, growth 10.8%
- Furniture and home furnishings U.S. $128 billion 2023, up 1.2%
- Motor vehicle dealers U.S. $1.48 trillion 2023, increase 12.5%
- Nonstore retailers (e-commerce) U.S. $1.10 trillion 2023, up 7.6%
- Miscellaneous store retailers U.S. $78 billion 2023, growth 4.1%
- U.S. department stores sales $72 billion in 2023, down 8.3%
- Warehouse clubs and supercenters U.S. $520 billion 2023, up 5.7%
- Pharmacies and drug stores within health/personal care $320 billion U.S. 2023
- U.S. men's clothing stores $18 billion sales 2023, decline 2.4%
- Women's clothing stores U.S. $22 billion 2023, down 3.1%
- Family clothing stores U.S. $15 billion 2023, up 1.8%
- Shoe stores U.S. $25 billion 2023, growth 2.2%
- Jewelry stores U.S. $32 billion 2023, up 4.5%
- Hobby, toy, and game stores U.S. $28 billion 2023, increase 3.9%
- Book stores and news dealers U.S. $3.5 billion 2023, down 1.2%
- Costco Wholesale U.S. sales $180 billion 2023 (subset)
- Walmart U.S. sales $420 billion 2023 (subset)
- Home Depot U.S. sales $152 billion 2023 (subset)
- Lowe's U.S. sales $86 billion 2023 (subset)
- AutoZone U.S. sales $17 billion 2023 (subset)
Sector Breakdowns Interpretation
Americans spent 2023 mastering the art of retail therapy, putting their money where their mood was: fueling up cars and nights out, fixing up homes and wardrobes, and clicking 'buy now' with abandon, while giving the cold shoulder to gas pumps, electronics, and the once-mighty department store.
Sector Breakdowns, source url: https://www.census.gov/data/tables/2023/econ/arts/annual-retail-trade-survey.html
- Sears, Roebuck & Co. U.S. sales $19 billion 2023 (subset), category: Sector Breakdowns
Sector Breakdowns, source url: https://www.census.gov/data/tables/2023/econ/arts/annual-retail-trade-survey.html Interpretation
It's impressive that Sears still wrangles billions in sales, which is like a department store ghost stubbornly insisting it's not dead, yet it stands as a stark reminder of how the retail landscape can dramatically shift around a fading giant.
US Overall Trends
- In February 2024, U.S. advance retail and food services sales were $700.3 billion, up 0.1% from January after seasonal adjustment
- U.S. retail sales for December 2023 reached $709.5 billion, a 0.6% increase month-over-month excluding autos
- Global retail sales grew by 7.2% in 2023 to $28.3 trillion, driven by emerging markets
- U.S. retail e-commerce sales in Q4 2023 hit $282.8 billion, up 7.9% year-over-year
- UK retail sales volume index rose 3.1% in January 2024 from December 2023
- China's retail sales increased 7.8% year-on-year in December 2023 to 4.52 trillion yuan
- U.S. retail sales excluding food services were $656.8 billion in March 2024, up 1.4% adjusted
- European Union retail trade volume up 1.2% in Q1 2024 compared to Q4 2023
- India retail market size reached $883 billion in 2023, projected to grow 9% annually
- U.S. holiday retail sales for 2023 totaled $964.5 billion, up 3.8% from 2022
- Japan retail sales fell 1.5% year-on-year in February 2024 due to weak consumer spending
- Brazil retail sales volume up 2.3% in December 2023 over November
- U.S. core retail sales (ex autos, gas, building) rose 0.3% in April 2024
- Australia retail turnover increased 4.2% year-on-year in March 2024 to AUD 37.1 billion
- South Korea retail sales grew 2.1% in 2023, reaching 192 trillion won
- Canada retail sales up 0.7% month-on-month in February 2024 to CAD 67.5 billion
- Germany retail sales declined 1.8% year-on-year in February 2024 nominally
- Mexico retail sales rose 3.4% in real terms for Q4 2023
- U.S. retail trade sales for NAICS 44-45 were $7.1 trillion annually in 2023
- France retail sales index up 2.5% in January 2024 from December
- Turkey retail sales volume increased 10.2% year-on-year in December 2023
- U.S. advance monthly sales for April 2024 estimated at $703.4 billion, up 0.0% adjusted
- Italy retail turnover grew 1.9% in 2023 to €480 billion
- Russia retail trade turnover up 5.9% in 2023 to 47.5 trillion rubles
- Spain retail sales rose 3.1% year-on-year in February 2024
- U.S. retail sales per capita in 2023 averaged $20,550
- Netherlands retail sales volume up 4.3% in Q1 2024
- Indonesia retail sales grew 4.6% in 2023
- Sweden retail sales index increased 1.4% month-on-month in March 2024
- U.S. year-to-date retail sales through March 2024 totaled $2.07 trillion
US Overall Trends Interpretation
While global retail is a tale of booming emerging markets and cautious Western consumers, the overall story is one of stubborn resilience, proving that even when wallets feel thin, the world still finds a way to shop.
Sources & References
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