While U.S. retail sales hit a staggering $7.1 trillion in 2023, the real story is found in the seismic shifts beneath that headline number, from e-commerce's relentless surge to the surprising sectors winning and losing the battle for consumer spending.
Key Takeaways
- In 2023, total U.S. retail sales amounted to $7.1 trillion, representing a 3.2% increase from the previous year driven by holiday spending
- U.S. retail sales for food services and drinking places grew by 7.1% year-over-year in December 2023 to $85.9 billion
- General merchandise stores in the U.S. reported sales of $852.4 billion in 2023, up 2.8% from 2022
- Global e-commerce sales reached $6.3 trillion in 2023, growing 9.1% year-over-year
- U.S. e-commerce sales as percentage of total retail hit 15.6% in 2023, totaling $1.1 trillion
- Amazon's global e-commerce sales revenue was $575 billion in 2023, up 12%
- U.S. Global B2B e-commerce sales reached $25 trillion in 2023
- U.S. B2B sales total volume was $30 trillion in 2023, with e-commerce at 15%
- Average B2B sales cycle length in U.S. was 84 days in 2023
- U.S. new passenger car sales reached 15.5 million units in 2023
- Global smartphone sales totaled 1.15 billion units in 2023, down 3.2% YoY
- U.S. SUV sales hit 5.8 million units in 2023, 51% of light vehicle market
- Global retail sales expected to grow 3.8% to $31.7 trillion in 2024
- U.S. retail sales forecast at 2.5% growth in 2024 to $7.25 trillion
- Global e-commerce sales projected to hit $8.1 trillion by 2026, CAGR 9.4% from 2023
U.S. retail sales grew in 2023, with e-commerce and nonstore retailers showing strong gains.
B2B Sales
1U.S. Global B2B e-commerce sales reached $25 trillion in 2023
Verified2U.S. B2B sales total volume was $30 trillion in 2023, with e-commerce at 15%
Verified3Average B2B sales cycle length in U.S. was 84 days in 2023
Verified4B2B buyers in 2023 used 10+ information sources before purchase, up from 5 in 2016
Directional576% of B2B sales organizations in 2023 reported revenue growth from digital engagement
Single source6Global B2B SaaS sales hit $195 billion in 2023, CAGR 18%
Verified7U.S. B2B inside sales reps closed 30% more deals than field sales in 2023
Verified862% of B2B customers in 2023 expected personalized interactions
Verified9Average B2B deal size increased 12% to $150,000 in 2023
Directional10B2B win rates averaged 28% in 2023 for enterprise sales
Single source1171% of B2B sales time in 2023 spent on non-selling activities
Verified12Global B2B services sales totaled $15 trillion in 2023
Verified13U.S. B2B quota attainment rate was 58% in 2023, down from 63% pre-pandemic
Verified14AI adoption in B2B sales reached 45% of teams in 2023, boosting productivity 20%
Directional15B2B customer churn rate averaged 5.8% annually in 2023 for SaaS
Single source1690% of B2B decision-makers in 2023 used LinkedIn for research
Verified17Average B2B sales rep tenure was 18 months in 2023
Verified18B2B upsell/cross-sell revenue contributed 31% of total in 2023
Verified19Global manufacturing B2B sales $12 trillion in 2023
Directional20U.S. B2B payment value via digital averaged $2.5 trillion in 2023
Single source2157% of B2B buyers paid more for faster delivery in 2023
Verified22Global automotive B2B sales volume 85 million units in 2023
Verified23U.S. B2B sales team size averaged 12 reps per manager in 2023
Verified24Global electronics B2B sales $2.8 trillion in 2023
DirectionalB2B Sales Interpretation
The modern B2B sales landscape is a high-stakes digital marathon where buyers, armed with ten information sources and a LinkedIn tab, demand personalized service while sales reps, racing against an 84-day clock and drowning in non-selling tasks, must leverage AI and inside sales to hit bigger deals and fight churn, all just to have a one-in-four chance of closing and a coin flip's chance of making quota.
E-commerce Sales
1Global e-commerce sales reached $6.3 trillion in 2023, growing 9.1% year-over-year
Verified2U.S. e-commerce sales as percentage of total retail hit 15.6% in 2023, totaling $1.1 trillion
Verified3Amazon's global e-commerce sales revenue was $575 billion in 2023, up 12%
Verified4Mobile commerce accounted for 60% of U.S. e-commerce sales in 2023, reaching $815 billion
Directional5China's e-commerce sales hit $2.9 trillion in 2023, 50% of global total
Single source6U.S. online grocery sales grew 13.4% to $100 billion in 2023
Verified7Fashion e-commerce sales worldwide reached $781 billion in 2023, up 11.6%
Verified8Electronics e-commerce global sales were $995 billion in 2023
Verified9B2C e-commerce sales in Europe totaled $850 billion in 2023, growing 8.2%
Directional10Social commerce sales globally hit $992 billion in 2023, projected from 7.3% CAGR
Single source11U.S. marketplace e-commerce sales (Amazon, Walmart) were $450 billion in 2023
Verified12Cross-border e-commerce sales worldwide reached $785 billion in 2023, up 25%
Verified13India e-commerce sales grew 25% to $111 billion in 2023
Verified14UK online retail sales share was 27.1% of total retail in 2023
Directional15Latin America e-commerce sales hit $270 billion in 2023, led by Brazil
Single source16Voice commerce sales globally projected at $40 billion in 2023
Verified17U.S. subscription e-commerce sales reached $120 billion in 2023, up 15%
Verified18Southeast Asia e-commerce GMV was $99 billion in 2023
Verified19Live-streaming e-commerce sales in China totaled $424 billion in 2023
Directional20U.S. BNPL e-commerce transactions volume was $175 billion in 2023
Single source21Global B2B e-commerce sales reached $18 trillion in 2023, 82% of total B2B
Verified22U.S. B2B e-commerce sales hit $1.7 trillion in 2023, up 8.9%
Verified23Alibaba B2B platform revenue from e-commerce was $62 billion in 2023
Verified24Amazon Business e-commerce sales estimated at $35 billion in 2023
Directional25Global B2B e-commerce CAGR forecasted at 17.5% from 2023-2027
Single source26U.S. B2B online sales penetration reached 18% of total B2B sales in 2023
Verified27China B2B e-commerce market size was $2.1 trillion in 2023
Verified28Enterprise SaaS e-commerce sales globally $195 billion in 2023
Verified29U.S. wholesale e-commerce sales grew 9.4% to $1.2 trillion in 2023
Directional30Global dropshipping e-commerce sales hit $200 billion in 2023
Single source31B2B marketplace e-commerce in Europe $450 billion in 2023
Verified32U.S. B2B mobile e-commerce sales $150 billion in 2023
Verified33Global B2B cross-border e-commerce $1.2 trillion in 2023
Verified34India B2B e-commerce sales $30 billion in 2023, up 20%
Directional35U.S. B2B e-commerce repeat purchase rate averaged 45% in 2023
Single source36Global wholesale e-commerce platforms sales $500 billion in 2023
VerifiedE-commerce Sales Interpretation
Despite the dizzying parade of trillions, the real story is that the entire global economy, from groceries to heavy machinery, has decisively moved its cash register from the dusty back office to the glowing rectangle in your hand.
Retail Sales
1In 2023, total U.S. retail sales amounted to $7.1 trillion, representing a 3.2% increase from the previous year driven by holiday spending
Verified2U.S. retail sales for food services and drinking places grew by 7.1% year-over-year in December 2023 to $85.9 billion
Verified3General merchandise stores in the U.S. reported sales of $852.4 billion in 2023, up 2.8% from 2022
Verified4U.S. clothing and clothing accessories stores generated $282.1 billion in sales in 2023, a 1.5% decline due to shifting consumer preferences
Directional5Health and personal care stores in the U.S. saw sales rise to $389.2 billion in 2023, fueled by an aging population
Single source6U.S. gasoline stations recorded $593.4 billion in sales in 2023 amid fluctuating fuel prices
Verified7Sporting goods, hobby, musical instrument, and book stores in the U.S. had $28.7 billion in sales in 2023, up 4.2%
Verified8U.S. nonstore retailers sales surged 7.3% to $1.2 trillion in 2023
Verified9Furniture and home furnishings stores in the U.S. generated $134.5 billion in 2023, down 5.1% from peak pandemic levels
Directional10Electronics and appliance stores sales in the U.S. totaled $92.3 billion in 2023, reflecting a 2.4% growth
Single source11Building material and garden equipment dealers in the U.S. reported $1.1 trillion in sales in 2023
Verified12Food and beverage stores in the U.S. achieved $1.02 trillion in sales in 2023, up 3.8%
Verified13Motor vehicle and parts dealers led U.S. retail sales with $1.52 trillion in 2023
Verified14U.S. retail e-commerce sales hit $1.1 trillion in 2023, accounting for 15.2% of total retail sales
Directional15Department stores in the U.S. saw sales drop to $78.4 billion in 2023, a 8.7% decline
Single source16In Q4 2023, U.S. retail sales excluding autos rose 0.4% month-over-month to $688.5 billion
Verified17U.S. warehouse clubs and supercenters generated $872.1 billion in 2023 sales
Verified18Retail sales in the U.S. Midwest region grew 2.9% in 2023 to $1.8 trillion
Verified19U.S. retail sales per capita reached $21,300 in 2023
Directional20Holiday retail sales in the U.S. for November-December 2023 totaled $1.1 trillion, up 3.7%
Single source21U.S. retail sales inflation-adjusted grew 1.8% in 2023
Verified22Small business retail sales in the U.S. increased 4.2% in 2023 per NFIB index
Verified23U.S. luxury retail sales rose 8.5% globally influenced in 2023 to $1.1 trillion
Verified24Grocery retail sales in the U.S. hit $1.02 trillion in 2023, with organic up 5.2%
Directional25U.S. apparel retail sales volume declined 2.1% in 2023 to 15.2 billion units
Single source26Pharmacies and drug stores U.S. sales reached $550 billion in 2023
Verified27U.S. retail foot traffic fell 4.5% in 2023 compared to 2019 levels
Verified28Discount stores U.S. sales grew 6.1% to $450 billion in 2023
Verified29U.S. mall retail sales declined 12% in 2023 to $300 billion
Directional30Convenience stores U.S. sales totaled $785 billion in 2023, up 2.3%
Single sourceRetail Sales Interpretation
While Americans clearly splurged on festive feasts, fancy booze, and anything online, their wardrobes and mall visits suffered as they channeled their inner homebodies by saving on clothes to spend more on comfort, health, and backyard projects.
Sales Forecasts and Trends
1Global retail sales expected to grow 3.8% to $31.7 trillion in 2024
Verified2U.S. retail sales forecast at 2.5% growth in 2024 to $7.25 trillion
Verified3Global e-commerce sales projected to hit $8.1 trillion by 2026, CAGR 9.4% from 2023
Verified4U.S. e-commerce penetration to reach 22% of retail by 2027
Directional5B2B e-commerce global growth forecast 17% CAGR to $36 trillion by 2026
Single source6Luxury goods sales worldwide to grow 4-6% annually through 2027 to $1.5 trillion
Verified7U.S. grocery sales forecast 3.1% growth in 2024
Verified8Global automotive sales projected 89 million units in 2024, up 2%
Verified9AI-driven sales tools to boost global sales productivity 15% by 2025
Directional10U.S. omnichannel retail sales to grow 12% CAGR to 2028
Single source11China retail sales growth forecast at 5.5% in 2024
Verified12Sustainability-focused sales to represent 30% of global by 2030
Verified13U.S. B2B sales AI adoption to 75% by 2025
Verified14Global subscription sales to $1.5 trillion by 2025, CAGR 68%
Directional15EV sales global share to 35% by 2030
Single source16U.S. retail inflation to average 2.1% in 2024
Verified17Metaverse commerce sales to $800 billion by 2028
Verified18India retail sales CAGR 10% to 2027, reaching $2 trillion
Verified19Voice commerce global sales $80 billion by 2025
Directional20U.S. social commerce sales to $80 billion by 2025
Single source21Global BNPL transaction value $450 billion in 2024
Verified22Luxury resale market to grow 12% CAGR to $102 billion by 2027
Verified23U.S. DTC sales forecast $175 billion by 2025
Verified24Global FMCG sales growth 4.2% in 2024
Directional25Headless commerce adoption to drive 20% e-commerce growth by 2026
Single source26U.S. Gen Z retail spending power $360 billion in 2024
VerifiedSales Forecasts and Trends Interpretation
While the global sales landscape is a cacophony of numbers shouting for attention, the clearest signal cutting through the noise is that the future belongs to businesses who can seamlessly blend digital agility with physical presence, as traditional retail trudges forward while e-commerce, AI, and the relentless shopper demand for convenience sprint ahead at a breakneck pace.
Sales by Product Category
1U.S. new passenger car sales reached 15.5 million units in 2023
Verified2Global smartphone sales totaled 1.15 billion units in 2023, down 3.2% YoY
Verified3U.S. SUV sales hit 5.8 million units in 2023, 51% of light vehicle market
Verified4Worldwide PC shipments 241.7 million units in 2023, down 14%
Directional5U.S. pickup truck sales 2.3 million units in 2023, led by Ford F-Series
Single source6Global beer sales volume 1.92 billion hectoliters in 2023
Verified7U.S. electric vehicle sales 1.2 million units in 2023, up 50%
Verified8Worldwide TV set sales 219 million units in 2023
Verified9U.S. tablet sales 40 million units in 2023, down 10%
Directional10Global soft drink sales volume 614 billion liters in 2023
Single source11U.S. light truck sales 11.1 million units in 2023
Verified12Worldwide console gaming hardware sales 18.6 million units in 2023
Verified13U.S. luxury car sales 760,000 units in 2023, up 12%
Verified14Global coffee sales volume 10.5 billion kg in 2023
Directional15U.S. hybrid vehicle sales 1.1 million units in 2023
Single source16Worldwide wearables sales 520 million units in 2023, up 2%
Verified17U.S. beer sales by volume 2.3 billion cases in 2023
Verified18Global wine sales volume 236 million hectoliters in 2023
Verified19U.S. motorcycle sales 450,000 units in 2023
Directional20Worldwide air conditioner sales 140 million units in 2023
Single source21U.S. furniture sales $134 billion in 2023
Verified22Global semiconductor sales $526 billion in 2023
Verified23U.S. pet food sales $58 billion in 2023, up 7%
Verified24Worldwide drone sales 5.3 million units in 2023
Directional25U.S. cosmetics sales $95 billion in 2023
Single source26Global book sales 2.2 billion units in 2023
Verified27U.S. toys sales $28 billion in 2023
VerifiedSales by Product Category Interpretation
In an era where America drinks its weight in beer, drives trucks like national mascots, and pets eat better than some people, our global shopping cart shows a species joyfully distracted by screens, caffeine, and the urgent need to both save the planet with an EV and conquer it in a massive SUV.
Sources & References
- Reference 1CENSUScensus.govVisit source
- Reference 2STATISTAstatista.comVisit source
- Reference 3NRFnrf.comVisit source
- Reference 4BEAbea.govVisit source
- Reference 5NFIBnfib.comVisit source
- Reference 6BAINbain.comVisit source
- Reference 7OTAota.comVisit source
- Reference 8NAPMnapm.orgVisit source
- Reference 9PLACERplacer.aiVisit source
- Reference 10ICSCicsc.comVisit source
- Reference 11NACSnacs.orgVisit source
- Reference 12ECOMMERCE-EUROPEecommerce-europe.euVisit source
- Reference 13DIGITALCOMMERCE360digitalcommerce360.comVisit source
- Reference 14IBEFibef.orgVisit source
- Reference 15ONSons.gov.ukVisit source
- Reference 16AMERICASMIamericasmi.comVisit source
- Reference 17GARTNERgartner.comVisit source
- Reference 18BIGCOMMERCEbigcommerce.comVisit source
- Reference 19FORBESforbes.comVisit source
- Reference 20HUBSPOThubspot.comVisit source
- Reference 21SALESFORCEsalesforce.comVisit source
- Reference 22SAAS-CAPITALsaas-capital.comVisit source
- Reference 23RAINrain.comVisit source
- Reference 24IBMibm.comVisit source
- Reference 25CLARITYclarity.ioVisit source
- Reference 26MCKINSEYmckinsey.comVisit source
- Reference 27BRIDGEGROUPINCbridgegroupinc.comVisit source
- Reference 28OPENVIEWPARTNERSopenviewpartners.comVisit source
- Reference 29BUSINESSbusiness.linkedin.comVisit source
- Reference 30DEALHUBdealhub.ioVisit source
- Reference 31GAINSIGHTgainsight.comVisit source
- Reference 32PYMNTSpymnts.comVisit source
- Reference 33SAPsap.comVisit source
- Reference 34OICAoica.netVisit source
- Reference 35GOODCARBADCARgoodcarbadcar.netVisit source
- Reference 36IDCidc.comVisit source
- Reference 37AUTODATA-GROUPautodata-group.comVisit source
- Reference 38CARPROcarpro.comVisit source
- Reference 39IEAiea.orgVisit source
- Reference 40OLED-INFOoled-info.comVisit source
- Reference 41MARKLINESmarklines.comVisit source
- Reference 42VGCHARTZvgchartz.comVisit source
- Reference 43SPGLOBALspglobal.comVisit source
- Reference 44ICOico.orgVisit source
- Reference 45GREENCARREPORTSgreencarreports.comVisit source
- Reference 46BREWERSASSOCIATIONbrewersassociation.orgVisit source
- Reference 47IWSRiwsr.comVisit source
- Reference 48POWERSPORTSBUSINESSpowersportsbusiness.comVisit source
- Reference 49SEMICONDUCTORSsemiconductors.orgVisit source
- Reference 50AMERICANPETPRODUCTSamericanpetproducts.orgVisit source
- Reference 51DRONEIIdroneii.comVisit source
- Reference 52NIELSENnielsen.comVisit source
- Reference 53THETOYASSOCIATIONthetoyassociation.orgVisit source
- Reference 54EMARKETERemarketer.comVisit source
- Reference 55DELOITTEwww2.deloitte.comVisit source
- Reference 56NIELSENIQnielseniq.comVisit source
- Reference 57PWCpwc.comVisit source
- Reference 58ZUORAzuora.comVisit source
- Reference 59FEDERALRESERVEfederalreserve.govVisit source
- Reference 60JUNIPERRESEARCHjuniperresearch.comVisit source