GITNUX MARKETDATA REPORT 2024

Must-Know Retail Statistics [Recent Analysis]

Highlights: Retail Statistics

  • Global retail sales are expected to reach $27.73 trillion by 2022.
  • E-commerce will account for roughly 22% of global retail sales by 2023.
  • The global retail market was valued at $20.85 trillion in 2019.
  • The United States remains the largest retail market, with a value of $5.47 trillion in 2020.
  • In 2020, Walmart was the world’s largest retail company, with a net income of $524 billion.
  • In 2020, Amazon’s subscription services accounted for $25.2 billion in worldwide net sales.
  • There were 1.1 million retail stores in the United States in 2019.
  • 29% of U.S. consumers spent more on clothing and fashion in 2020 compared to 2019.
  • In 2020, Black Friday accounted for $9 billion in online spending in the United States.
  • In 2019, 90% of retail sales still took place in physical stores.
  • In 2021, around 80% of consumers stated that they will continue to shop online as frequently or even more post-pandemic.
  • Apparel and accessories account for the largest share of online retail sales worldwide at 28%.
  • The number of global mobile wallet users will reach 4.1 billion by 2025.
  • In 2020, the average global shopping cart abandonment rate was 88.05%.
  • The average U.S. consumer is enrolled in 14.8 loyalty programs.
  • In 2021, there are approximately 51,854 shoe stores in the United States.
  • There were approximately 1.58 million retail workers in the United Kingdom in 2020.
  • In 2019, the Canadian retail industry generated over $636 billion CAD in sales.
  • By 2026, the global smart retail market is expected to be valued at $58.4 billion.

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The retail industry is a major contributor to the global economy, with sales expected to reach $27.73 trillion by 2022. E-commerce will account for roughly 22% of these sales in 2023, and the United States remains the largest retail market at $5.47 trillion in 2020. Walmart was the world’s largest retailer that year, followed closely by Amazon whose subscription services accounted for over $25 billion in net sales worldwide.

In 2019 there were 1 million stores across America alone and 75% of companies used social media platforms as part of their business strategy globally that same year – an indication of how important digital marketing has become within this sector. Consumers spent more on clothing and fashion than ever before during 2020; Black Friday saw record online spending totaling around 9 billion dollars while 88% abandoned shopping carts due to various reasons such as high shipping costs or lack of payment options available on websites/apps etc.. Furthermore, loyalty programs are becoming increasingly popular among shoppers who are enrolled into 14 different ones on average according to Statista’s research from 2021 – showing just how competitive retailers have become when it comes down to customer retention strategies.

Shoe stores remain one of most common types found throughout North America (51 854) whereas Canada generated 636 billion CAD worth in total retail sales back in 2019 which shows its importance within this region too. Finally smart retails solutions are set be valued at 58 4 Billion USD come 2026 indicating further growth potential ahead for those willing invest time & money into modernizing their operations accordingly.

The Most Important Statistics
Global retail sales are expected to reach $27.73 trillion by 2022.

This statistic is a testament to the immense potential of the retail industry. It highlights the immense growth that the sector is expected to experience in the coming years, and serves as a reminder of the immense opportunities that exist for businesses to capitalize on. It is a powerful reminder of the importance of staying up-to-date with the latest retail trends and statistics in order to remain competitive in the ever-evolving retail landscape.

E-commerce will account for roughly 22% of global retail sales by 2023.

This statistic is a powerful indicator of the growing importance of e-commerce in the retail industry. As the percentage of global retail sales attributed to e-commerce continues to rise, it is clear that businesses must adapt to the changing landscape of retail and embrace the opportunities that come with it. This statistic is a reminder that the future of retail is digital, and those who are not prepared to make the transition risk being left behind.

Retail Statistics Overview

The global retail market was valued at $20.85 trillion in 2019.

This statistic is a testament to the sheer size and scope of the retail market, highlighting its immense importance in the global economy. It serves as a reminder of the immense potential of the retail industry, and the opportunities it presents for businesses and consumers alike.

The United States remains the largest retail market, with a value of $5.47 trillion in 2020.

This statistic is a testament to the sheer size and scope of the retail market in the United States. It highlights the immense potential for growth and success in the retail industry, and serves as a reminder of the importance of staying up-to-date with the latest retail trends and statistics.

In 2020, Walmart was the world’s largest retail company, with a net income of $524 billion.

This statistic is a testament to Walmart’s success in the retail industry, highlighting its immense profitability and market dominance. It serves as a reminder of the power of the retail sector and the potential for businesses to generate significant income. Furthermore, it provides a benchmark for other companies to strive for, demonstrating the potential for success in the retail industry.

In 2020, Amazon’s subscription services accounted for $25.2 billion in worldwide net sales.

This statistic is a testament to the power of Amazon’s subscription services, highlighting the immense success they have achieved in the retail industry. It is a clear indication of the company’s ability to capitalize on the growing trend of subscription-based services, and serves as a reminder of the importance of staying ahead of the curve in the ever-evolving retail landscape.

There were 1.1 million retail stores in the United States in 2019.

This statistic is a testament to the sheer size and scope of the retail industry in the United States. It speaks to the immense economic impact of retail stores, and the importance of the sector to the overall economy. It also serves as a reminder of the importance of understanding the retail landscape in order to make informed decisions about the future of the industry.

29% of U.S. consumers spent more on clothing and fashion in 2020 compared to 2019.

This statistic is a telling indication of the changing landscape of the retail industry. It shows that despite the economic downturn caused by the pandemic, consumers are still willing to invest in clothing and fashion, suggesting that the retail industry is still a viable option for businesses. This statistic is a valuable insight for anyone looking to gain a better understanding of the current state of the retail industry.

In 2020, Black Friday accounted for $9 billion in online spending in the United States.

This statistic is a testament to the power of online shopping, particularly during the holiday season. It shows that even in the midst of a pandemic, consumers were still willing to spend big on Black Friday, and that retailers were able to capitalize on this trend. This statistic is a great example of how retailers can leverage digital platforms to reach customers and drive sales, even in difficult times.

In 2019, 90% of retail sales still took place in physical stores.

This statistic is a testament to the enduring power of physical stores in the retail industry. Despite the rise of e-commerce, it is clear that customers still prefer to shop in-person, making physical stores an essential part of any successful retail strategy.

In 2021, around 80% of consumers stated that they will continue to shop online as frequently or even more post-pandemic.

This statistic is a clear indication that the retail industry is shifting towards an online-first approach. It shows that even after the pandemic, consumers are still comfortable with shopping online and are likely to continue to do so. This is an important insight for retailers to consider when planning their strategies for the future, as it suggests that investing in digital infrastructure and e-commerce capabilities is likely to be a worthwhile endeavor.

Apparel and accessories account for the largest share of online retail sales worldwide at 28%.

This statistic is a telling indication of the importance of apparel and accessories in the online retail market. It highlights the fact that these items are in high demand, and that retailers should be paying close attention to this sector in order to maximize their profits. Furthermore, it serves as a reminder that apparel and accessories are a key component of the retail industry, and should be given the attention they deserve.

The number of global mobile wallet users will reach 4.1 billion by 2025.

This statistic is a powerful indicator of the potential for retailers to reach a massive customer base through mobile wallet technology. By 2025, nearly half of the world’s population will be using mobile wallets, providing retailers with an unprecedented opportunity to engage with customers and drive sales. With the right strategies in place, retailers can capitalize on this trend and make the most of the mobile wallet revolution.

In 2020, the average global shopping cart abandonment rate was 88.05%.

This statistic is a telling indication of the current state of retail. With 88.05% of shoppers abandoning their carts, it’s clear that retailers need to take a closer look at their strategies and find ways to better engage customers and encourage them to complete their purchases. This statistic is a valuable insight into the challenges that retailers face in the digital age.

The average U.S. consumer is enrolled in 14.8 loyalty programs.

This statistic is indicative of the fact that loyalty programs are becoming increasingly popular among U.S. consumers. It shows that retailers are recognizing the value of customer loyalty and are investing in programs to reward their customers for their loyalty. This is an important trend for retailers to be aware of, as it can help them to better understand their customers and create more effective loyalty programs.

In 2021, there are approximately 51,854 shoe stores in the United States.

This statistic is a telling indication of the size of the shoe retail industry in the United States. It speaks to the sheer number of stores dedicated to selling shoes, and the potential for growth in the sector. It also provides insight into the competitive landscape of the industry, and the potential for success for those looking to enter the market. This statistic is an important piece of the puzzle when it comes to understanding the retail industry in the United States.

There were approximately 1.58 million retail workers in the United Kingdom in 2020.

This statistic is a telling indication of the importance of retail in the United Kingdom. It shows that retail is a major employer in the country, providing jobs for over 1.5 million people. This statistic is a key piece of information for anyone looking to understand the size and scope of the retail industry in the UK.

In 2019, the Canadian retail industry generated over $636 billion CAD in sales.

This statistic is a testament to the immense size and scope of the Canadian retail industry. It highlights the sheer magnitude of the industry’s economic impact, and serves as a reminder of the importance of retail to the Canadian economy. It is a powerful reminder of the importance of the retail sector to the nation’s economic health and stability.

By 2026, the global smart retail market is expected to be valued at $58.4 billion.

This statistic is a testament to the immense potential of the smart retail market. It shows that the industry is growing rapidly and is expected to be worth a staggering $58.4 billion by 2026. This is a clear indication that smart retail is a lucrative and promising sector, and one that businesses should be paying attention to.

Conclusion

The retail industry is a rapidly growing sector, with global sales expected to reach $27.73 trillion by 2022 and e-commerce accounting for 22% of those sales in 2023. The United States remains the largest retail market, valued at $5.47 trillion in 2020, while Walmart was the world’s largest retailer that same year with net income of $524 billion. Amazon also had an impressive showing in 2020 as their subscription services accounted for over 25 billion dollars worldwide in net sales alone.

Retail stores are still popular among consumers despite the rise of online shopping; there were 1 million stores across America just last year and 90% of all retail purchases took place within physical locations during 2019 according to Forbes Magazine. However, Black Friday saw record breaking numbers when it came to online spending this past November – totaling 9 billion dollars. It appears that many shoppers will continue frequenting digital platforms even after pandemic restrictions have been lifted since 80% stated they would shop online as frequently or more post-pandemic according to Statista research from 2021 .

Apparel and accessories account for 28 percent of total global eCommerce revenue while mobile wallet users are projected to hit 4 billion people by 2025 due largely thanks to loyalty programs which now boast 14 memberships per average U.S consumer on average (Statista). Finally, shoe retailers remain strong throughout North America with 51 thousand 854 outlets located across the US (Ibisworld) and 636 Billion CAD generated through Canadian Retail Sales (Statista). All these figures point towards a bright future ahead where smart technology plays an increasingly important role – estimated at 58 Billion USD globally by 2026(Markets & Markets).

References

0. – https://www.statista.com

1. – https://www.marketsandmarkets.com

2. – https://www.nrf.com

3. – https://www.forbes.com

4. – https://www.businesswire.com

5. – https://www.salecycle.com

6. – https://www.cnbc.com

7. – https://www.emarketer.com

8. – https://www.ibisworld.com

9. – https://www.prsformusic.com

10. – https://www.mckinsey.com

FAQs

What is the average sales growth of the retail industry in the last five years?

Although specific rates vary by country and sector, the global retail industry's average sales growth over the past five years is estimated at around 3-4% annually.

What is the market share of e-commerce retailers in the overall retail industry?

The market share of e-commerce retailers has seen significant growth in recent years. As of 2020, e-commerce accounted for approximately 18% of the global retail market.

What is the top-selling retail category?

The top-selling retail category varies by region and year, but some of the consistently successful categories include grocery, consumer electronics, and apparel.

What is the average profit margin for retailers?

The average profit margin for retailers depends on the industry or sub-sector. For instance, grocery retailers may have a lower average profit margin, around 2-6%, while specialty retailers might see a higher average profit margin between 7-20%.

Which region has the highest retail sales per capita?

North America has the highest retail sales per capita, driven by robust consumer spending in the United States and Canada.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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