US Ecommerce Sales (2013–2023)
|
Year |
US ecommerce sales |
Y-o-Y change |
|---|---|---|
|
2013 |
$260.4 billion |
+12.7% |
|
2014 |
$296.8 billion |
+14.0% |
|
2015 |
$337.0 billion |
+13.6% |
|
2016 |
$383.2 billion |
+13.7% |
|
2017 |
$442.2 billion |
+15.4% |
|
2018 |
$506.8 billion |
+14.6% |
|
2019 |
$569.9 billion |
+12.4% |
|
2020 |
$813.1 billion |
+42.7% |
|
2021 |
$958.0 billion |
+17.8% |
|
2022 |
$1,040.4 billion |
+8.6% |
|
2023 |
$1,117.9 billion |
+7.4% |
Data from the US Department of Commerce shows that US ecommerce sales have been growing steadily for more than a decade, with significant growth in the previous few years.
In 2023, total US ecommerce sales hit a record high of $1.12 trillion, after recording a 7.4% annual increase. This is an impressive increase from a decade ago in 2013, when online sales in the US totaled $260.4 billion.
In Q4 2023, US ecommerce sales hit $285.2 billion—the highest-ever sales recorded in a single quarter. It’s also a 7.5% increase from the previous year and a 0.8% rise from Q3 2023.
The latest data also shows that from 2013 to 2023, annual US ecommerce sales multiplied by nearly four times, rising at an average annual growth rate of 16%. The biggest increase was registered in 2020, when overall sales surged by 42.7%—roughly six times the growth rate of 2023.
US ecommerce growth: impact of COVID-19
The coronavirus pandemic that swept across the world in 2020 had a profound impact on US ecommerce sales.
The latest data analyzing quarterly US ecommerce sales show that in the first quarter of 2020, online sales in the US totaled $159.8 billion. The quarter after, it surged 33.5% to $213.3 billion, even as overall retail sales fell by 3.5%. This was also a 54.6% annual increase from the second quarter of 2019.
The surge in online sales in the second quarter of 2020 coincided with the period during which US consumers had to resort to purchasing items online as brick-and-mortar stores shut to stem the spread of the virus. In fact, analysts say this accelerated the shift to ecommerce by as many as five years. This growth is especially noteworthy, particularly during the coronavirus pandemic as US consumer confidence fell to its lowest point around this time of the year.
Apart from a slight dip in Q3 2021, US ecommerce sales have been rising every quarter. That was also the only quarter the US ecommerce market size declined in more than a decade.
US ecommerce growth statistics: 2024–2027 forecast
|
Year |
Ecommerce sales |
Y-o-Y change |
% of total retail sales |
|---|---|---|---|
|
2024 |
$1.26 trillion |
+10.5% |
16.6% |
|
2025 |
$1.39 trillion |
+10.8% |
17.8% |
|
2026 |
$1.55 trillion |
+11.0% |
19.1% |
|
2027 |
$1.72 trillion |
+11.3% |
20.6% |
According to projections by eMarketer, experts anticipate overall online sales to rise by 10.5% in 2024, to reach $1.26 trillion. This will mark the most substantial year-on-year growth since 2021, when total US ecommerce sales surged by 17.3%.
Further growths are projected and at increasing rates until at least 2027. By then, annual US ecommerce sales are set to hit $1.72 trillion and account for 20.6% of total US retail sales. In essence, by 2027, more than $1 out of every $5 spent on retail goods will be conducted online.
US ecommerce growth projections show that from 2024 to 2027, annual online sales are set to rise by an average annual growth rate of 10.9%.