From apparel and groceries to cars and electronics, the sheer scale of the US retail industry is staggering, pumping over $7 trillion into the economy each year while employing one in ten Americans.
Key Takeaways
- The total US retail sales for 2022 amounted to $7.04 trillion, marking a 7.6% increase from 2021.
- The US retail market size was valued at $5.92 trillion in 2023, projected to grow at a CAGR of 3.1% from 2024 to 2030.
- Retail trade contributed 5.9% to the US GDP in 2022, equating to approximately $1.4 trillion.
- Total US retail sales for Q1 2023 were $1.72 trillion.
- Walmart reported US retail sales of $482 billion in fiscal year 2023.
- Amazon's US retail sales excluding AWS were approximately $317 billion in 2022.
- 65% of US consumers increased grocery spending in 2022 due to inflation.
- 42% of US shoppers prefer in-store shopping for groceries in 2023.
- 71% of US consumers use mobile devices for shopping research in 2023.
- E-commerce accounted for 15.3% of total US retail sales in Q1 2023.
- Amazon held 37.6% of US e-commerce market share in 2022.
- US mobile commerce sales reached $710 billion in 2022.
- US retail industry employed 15.8 million in retail trade as of March 2023.
- Average hourly wage in US retail trade was $18.47 in 2023.
- Retail salespersons numbered 3.8 million in US workforce 2022.
The US retail industry is large and growing steadily despite inflationary pressures.
Consumer Behavior
165% of US consumers increased grocery spending in 2022 due to inflation.
Verified242% of US shoppers prefer in-store shopping for groceries in 2023.
Verified371% of US consumers use mobile devices for shopping research in 2023.
Verified4Average US household retail spending was $62,334 annually in 2022.
Directional556% of Gen Z consumers prioritize sustainability in retail purchases in 2023.
Single source6US consumers spent 28% more on essentials like food in 2022 vs 2021.
Verified748% of US shoppers abandoned carts due to high shipping costs in 2023.
Verified8Loyalty programs influence 75% of US retail purchase decisions in 2023.
Verified962% of US consumers prefer buy-online-pickup-in-store (BOPIS) post-pandemic.
Directional10Impulse buying accounts for 40% of all US retail purchases.
Single source1135% of US millennials shop exclusively online for apparel in 2023.
Verified12Average cart abandonment rate in US e-retail is 69.99% in 2023.
Verified1380% of US consumers research products online before buying in-store.
Verified14Price sensitivity rose to 87% among US consumers in 2022.
Directional1551% of US consumers switched retailers for better value in 2023.
Single source16US baby boomers spend 46% of income on retail goods/services.
Verified1767% of US parents prioritize convenience in family shopping.
Verified18Social commerce influences 36% of US Gen Z purchases in 2023.
Verified1974% of US consumers affected by inflation reduced discretionary spending.
Directional20Omnichannel shoppers spend 4x more than single-channel in US retail.
Single source2129% of US consumers use social media for product discovery.
Verified22US consumers average 10.2 retail transactions per month in 2023.
Verified2355% of US shoppers use credit cards for retail purchases.
Verified24US retail foot traffic recovered to 95% of pre-pandemic levels in 2023.
DirectionalConsumer Behavior Interpretation
The grocery bill's up, the phone's out for research, and loyalty's cheap, but in the end, the modern American shopper is a savvy, value-obsessed creature of hybrid habit, eternally clicking 'add to cart' while questioning the very cost of everything in it.
E-commerce and Online Retail
1E-commerce accounted for 15.3% of total US retail sales in Q1 2023.
Verified2Amazon held 37.6% of US e-commerce market share in 2022.
Verified3US mobile commerce sales reached $710 billion in 2022.
Verified4Walmart's online sales grew 23% to $82 billion in fiscal 2023.
Directional5US marketplace e-commerce sales were $343 billion in 2022.
Single source6Average US online order value was $109 in 2023.
Verified757% of US e-commerce sales come from mobile devices in 2023.
Verified8Target's digital sales penetrated 18.7% of total sales in 2022.
Verified9US social commerce sales projected to hit $65 billion by 2023.
Directional10E-commerce returns rate in US averaged 24.4% in 2022.
Single source11Shopify powered 28% of US online stores in 2023.
Verified12US grocery e-commerce sales were $105 billion in 2022.
Verified13Voice commerce sales in US reached $4.2 billion in 2022.
Verified1441% of US consumers bought via Instagram shopping in 2023.
Directional15US fashion e-commerce sales totaled $195 billion in 2022.
Single source16Amazon Prime members account for 62% of its US e-sales.
Verified17Click-and-collect orders made up 35% of US e-commerce fulfillment in 2023.
Verified18US electronics e-commerce sales hit $142 billion in 2022.
Verified19Subscription e-commerce in US generated $120 billion in 2022.
Directional2078% of US retailers offer same-day delivery options online in 2023.
Single source21TikTok Shop US sales reached $1 billion within first year launch.
Verified22US BNPL (buy now pay later) transaction volume was $24 billion in e-retail 2022.
Verified23Personalization drives 20% uplift in US e-commerce conversion rates.
VerifiedE-commerce and Online Retail Interpretation
America's retail heart now beats digitally, where Amazon's empire commands nearly two-fifths of a trillion-dollar mobile commerce arena, turbocharged by Instagram carts and one-click payments, yet every fourth purchase still comes back, proving the customer may always be right, but returns are a costly side-effect of convenience.
Employment and Workforce
1US retail industry employed 15.8 million in retail trade as of March 2023.
Verified2Average hourly wage in US retail trade was $18.47 in 2023.
Verified3Retail salespersons numbered 3.8 million in US workforce 2022.
Verified422% of US retail workers are part-time as of 2023.
Directional5Retail turnover rate averaged 62.5% in US in 2022.
Single source6Cashiers employment totaled 3.3 million in 2022.
Verified7US retail managers earned median $59,480 annually in 2022.
Verified8Women comprise 48% of US retail workforce in 2023.
Verified9First-line retail supervisors numbered 1.2 million in 2022.
Directional10Retail labor productivity grew 1.8% in US 2022.
Single source1116% of US retail jobs require high school diploma or equivalent.
Verified12Stockers and order fillers employment hit 2.9 million in 2022.
Verified13Retail occupations projected to add 418,000 jobs by 2032.
Verified14Union membership in US retail trade was 4.7% in 2022.
Directional15Median age of US retail workers is 39 years in 2023.
Single source16Hispanic or Latino workers make up 22% of retail employment.
Verified17Remote work in retail admin roles increased 12% post-pandemic.
Verified18Training hours per new retail hire averaged 40 hours in 2022.
Verified19Retail gig economy workers numbered 2.1 million in 2023.
Directional20Overtime hours in US retail averaged 3.2 per week in 2022.
Single source2165% of US retailers reported labor shortages in 2023.
VerifiedEmployment and Workforce Interpretation
The retail industry is a massive and perpetually hiring engine, powered by a huge but often transient workforce earning modest wages, where high turnover and labor shortages constantly tug against a slow creep of productivity gains and digital change.
Market Size and Growth
1The total US retail sales for 2022 amounted to $7.04 trillion, marking a 7.6% increase from 2021.
Verified2The US retail market size was valued at $5.92 trillion in 2023, projected to grow at a CAGR of 3.1% from 2024 to 2030.
Verified3Retail trade contributed 5.9% to the US GDP in 2022, equating to approximately $1.4 trillion.
Verified4The apparel retail segment in the US generated $369.8 billion in revenue in 2022.
Directional5US food and beverage retail sales reached $1.02 trillion in 2022.
Single source6The US retail industry employed 52.8 million people as of 2023, representing 10.1% of total employment.
Verified7Projected US retail sales for 2025 are estimated at $7.8 trillion.
Verified8The luxury goods retail market in the US was worth $78.6 billion in 2022.
Verified9US general merchandise stores sales totaled $852 billion in 2022.
Directional10The US retail sector's market volume is forecasted to reach $6.5 trillion by 2027.
Single source11Health and personal care retail sales in the US hit $458 billion in 2022.
Verified12US retail e-commerce sales grew by 15.1% to $1.03 trillion in 2022.
Verified13The US home improvement retail market size was $482 billion in 2022.
Verified14Sporting goods retail sales in the US amounted to $57.3 billion in 2022.
Directional15US motor vehicle and parts dealers generated $1.45 trillion in sales in 2022.
Single source16Nonstore retailers in the US saw sales of $1.1 trillion in 2022.
Verified17US furniture and home furnishings stores sales reached $133 billion in 2022.
Verified18Electronics and appliance store sales totaled $85.6 billion in 2022.
Verified19US gasoline stations sales were $620 billion in 2022.
Directional20Building material and supplies dealers sales hit $510 billion in 2022.
Single source21US food services and drinking places generated $924 billion in sales in 2022.
Verified22Health and personal care stores sales amounted to $388 billion in 2022.
Verified23Clothing and clothing accessories stores sales were $295 billion in 2022.
Verified24General merchandise stores sales reached $852 billion in 2022.
Directional25Miscellaneous store retailers sales totaled $82 billion in 2022.
Single source26US retail sales adjusted for seasonal variation were $704.4 billion in December 2022.
Verified27The US retail market is expected to grow by 2.8% annually through 2028.
Verified28Online retail penetration in the US reached 14.7% of total retail sales in 2022.
Verified29US retail inflation-adjusted sales grew 2.1% year-over-year in Q4 2022.
Directional30The US discount stores segment revenue was $450 billion in 2022.
Single sourceMarket Size and Growth Interpretation
America may be glued to its screens, but the $7-trillion retail engine that feeds it, clothes it, and sends it to the hardware store for yet another quart of paint is still very much a physical, sprawling beast—one that, frankly, seems to spend most of its profits at the gas station and the drive-thru.
Sales and Revenue
1Total US retail sales for Q1 2023 were $1.72 trillion.
Verified2Walmart reported US retail sales of $482 billion in fiscal year 2023.
Verified3Amazon's US retail sales excluding AWS were approximately $317 billion in 2022.
Verified4Costco Wholesale's net sales reached $226 billion in fiscal 2023.
Directional5Home Depot's fiscal 2023 sales totaled $157.4 billion.
Single source6Target Corporation's 2022 sales were $109.1 billion.
Verified7Lowe's Companies reported $97 billion in sales for fiscal 2023.
Verified8Kroger Co. net sales were $148.3 billion in fiscal 2023.
Verified9CVS Health retail sales segment generated $110 billion in 2022.
Directional10Macy's Inc. net sales were $24.4 billion in fiscal 2022.
Single source11Best Buy's fiscal 2023 revenue was $46.3 billion.
Verified12TJX Companies worldwide net sales were $49.9 billion in fiscal 2023, with US majority.
Verified13Dollar General's net sales reached $38.5 billion in fiscal 2023.
Verified14Ross Stores sales were $20.4 billion in fiscal 2023.
Directional15Publix Super Markets sales totaled $57.5 billion in 2023.
Single source16Albertsons Companies fiscal 2023 sales were $79.2 billion.
Verified17O'Reilly Automotive sales reached $15.2 billion in fiscal 2023.
Verified18US retail sales in December 2022 increased 0.1% month-over-month to $707.6 billion.
Verified19Black Friday 2022 US retail sales hit $9.12 billion online alone.
Directional20Cyber Monday 2022 generated $11.49 billion in US online retail sales.
Single source21US holiday season 2022 retail sales totaled $936.3 billion.
Verified22Supermarket sales in the US were $800 billion in 2022.
Verified23Convenience store sales reached $794 billion in 2022.
Verified24US department store sales declined to $102 billion in 2022.
Directional25Retail sales at US warehouse clubs were $216 billion in 2022.
Single source26Drug store sales totaled $388 billion in 2022.
Verified27US retail sales via catalogs and direct mail were $22 billion in 2022.
Verified28Average US retail sales per capita were $20,943 in 2022.
Verified29Retail sales growth in the US was 8.5% in 2021 but slowed to -0.9% real growth in 2022.
DirectionalSales and Revenue Interpretation
In the colossal, trillion-dollar arena of American retail, it's a story of Goliaths dwarfing other giants, where Walmart's mountain of sales is nearly a third of the entire national haul, yet even the seismic online spikes of Black Friday are mere rounding errors on its balance sheet.
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