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The U.S. has one of the largest retail markets globally and is home to the world’s leading retail companies. Its size tells us about the massive opportunities in the industry and how competitive it is.

As it grows, the retail industry is evolving to keep up with ever-changing consumer needs and behavior. Keep reading to learn more about the latest retail statistics in 2024, including:

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General retail industry statistics

The retail industry is forecast to grow at a faster rate in this decade compared to 2010 through 2019. Here are some retail statistics that show its growth trend:

  1. The retail industry provides around 52 million jobs in the U.S., or one in four jobs, making it the largest private-sector employer in the country.
  2. For every retail store that closed, two new retailers opened in 2021.
  3. Total worldwide retail sales are estimated to reach $31.3 trillion by 2025.
  4. Worldwide retail e-commerce sales are projected to hit about $7.4 trillion by 2025.
  5. In 2021, global retail sales grew to $26 trillion, which is nearly 10%.
  6. Retail sales will grow by 6-8% to more than $4.9 trillion in 2022.
  7. 49% of retailers plan to increase their investment in their company-owned online store.
  8. Ecommerce shares of retail sales reached 22% in 2023, compared to 21.2% in 2022.
  9. Sales from mobile devices are projected to account for 4% of all retail transactions by 2025.
  10. 7% is how much retail sales grew on average from 2010 to 2019.

General retail consumer statistics

Want to know what makes retail shoppers choose one brand over another? Convenience and price influence retail shoppers’ buying decisions and loyalty. Transparency, sustainability, and inclusivity affect purpose-driven retail buyers worldwide.

Check out these general retail consumer statistics for 2024:

  1. Two out of three Americans say that their social values influence their shopping choices.
  2. 32% of U.S. shoppers switched brands because of their sustainability practices in 2023.
  3. 16.5% of U.S. purchases end in returns.
  4. Impulse purchases account for 40% of all consumer spending.
  5. 53% of organizations are prioritizing sustainability.
  6. Around 1 in 5 Gen Z are more likely to buy a product with lots of “likes” or positive comments.
  7. 46% of respondents said they shopped at a different brand recently, with price being the biggest driver for the switch.
  8. 45% of Americans believe that retailers should support Black-owned businesses and brands.
  9. 49% of U.S. consumers say they would switch brands for a coupon or discount.
  10. 40% of shoppers start their buying journey with a broad search.

Social media and the retail industry statistics

Social media is an excellent channel for retailers to build brand awareness and reach new audiences.

The growth of livestream selling can also help retailers improve their customers’ shopping experience. Here are some retail industry statistics related to social media:

  1. 53% of global consumers intend to shop more through social platforms in the future.
  2. Social commerce will be a $79 billion industry in the U.S. by 2025.
  3. Thailand has the highest shares of social commerce buyers worldwide, followed by India and the United Arab Emirates.
  4. Facebook has 63.5 million buyers, making it the top social commerce platform in the U.S.
  5. Instagram has 41 million social buyers in the U.S.
  6. The U.S. livestream market is projected to account for $35 billion in sales by 2024.
  7. Livestream delivers conversion rates of up to 30%, which is 10 times higher than ecommerce.
  8. By 2026, the U.S. livestream market is forecast to make up as much as 20% of all ecommerce sales.

AR and the retail industry statistics

AR has the potential to engage customers and boost retailers’ sales. Here are some stats that show the power of AR:

  1. Three out of 10 prefer to try clothes using AR instead of visiting in-store.
  2. 56% of shoppers who use AR said that the technology has encouraged them to buy something.
  3. 42% is the number of online clothing returns you can avoid when using AR in the shopping process
  4. 61% of consumers say they prefer retailers with AR experiences.
  5. 35% of consumers would shop online more if they could do virtual try-ons.

Brick-and-mortar retail store statistics

While online shopping is booming, physical stores are still relevant today. More global consumers now feel comfortable shopping in-store.

Here are retail industry statistics that show the importance of physical stores in 2024:

  1. 56% of U.S. Gen Z prefer to shop online than in-store
  2. 73% of Gen Z customers in the U.S. visit brick-and-mortar stores to discover new products.
  3. 72% of consumers say they ‘showroom’— they visit a retail store to experience the products and purchase it elsewhere or online.
  4. 47% of consumers were more likely to purchase from a brand because of its local presence.
  5. 46% of retail brands plan to prioritize showrooming in the next year.
  6. 34% of consumers say they are likely to engage in in-store appointment shopping.
  7. 31% of brands plan to put up or expand their retail footprint.
  8. 7% is how much in-store sales increased from 2019 to 2022.
  9. 24% of adults are less likely to purchase online from a business that doesn’t also have a storefront.

BOPIS retail statistics

Buy online, pick up in store (BOPIS), also known as click and collect, is a hybrid approach that offers the convenience of online buying and the efficiency of in-store shopping.

Here are retail industry statistics showing that a growing number of consumers are becoming more comfortable shopping in-store and online:

  1. Almost two-thirds of retailers currently offer or plan to offer buy online, pick up in store.
  2. 60% of consumers have used BOPIS, while 77% have tried research online and purchase offline (ROPO). Both figures have increased by 5% year-over-year, which shows that more customers are comfortable using ecommerce and in-store shopping to maximize the benefits of both.
  3. 55% of consumers want to check out products online and see what’s available in nearby brick-and-mortar stores.
  4. 54% of shoppers want to look at a product online and later buy it in-store. Meanwhile, 53% of shoppers want to check out a product at a physical store and later buy it online.
  5. 51% of retail shoppers make purchases on their phones while inside a store.
  6. 47% of consumers are likely to purchase online if returning the product in-store is an option.

Omnichannel retail statistics in 2024

Retail consumers expect convenient, frictionless shopping, so retail brands are forced to provide an omnichannel shopping experience that creates a seamless path to purchase.

Check out these omnichannel retail statistics to learn more:

  1. Three-fourths of U.S. consumers said that they are researching and shopping both online and in-store, and participating in omnichannel activities.
  2. Half of retailers are offering or planning to offer ship-from-store capabilities.
  3. Omnichannel campaigns coupled with push messages have a 614% higher order rate.
  4. Brands using three or more channels in a campaign garnered a 494% higher order rate than brands using a single-channel campaign.
  5. Omnichannel campaigns with an SMS component were 429% more likely to end in conversion compared to single-channel campaigns.
  6. 53% of brands are investing in tools that allow them to sell anywhere.
  7. 33% of brands are prioritizing order fulfillment through omnichannel means.
  8. 10% to 30% is how many sales retailers can lose when they don’t meet customers’ omnichannel shopping expectations.

    U.S. retail statistics

    The U.S. is a leader in the global retail sphere. Here are some U.S. retail statistics to help you learn more about retail in the U.S.:

  9. Overall employment of retail sales workers is projected to decline 2 percent from 2022 to 2032.
  10. U.S. retail sales totaled an estimated $7.48 trillion in 2023.
  11. 21% of global retail is how much American retail sales revenue represents.
  12. $19,653 over 12 months is how much the average American consumer spends on retail.
  13. In 2022, 3.1 million workers were retail salespersons and cashiers, and around 3 million were first-line supervisors of retail sales workers.

    Global retail statistics

    Retail looks different all around the world. If you sell internationally, you need to understand the different markets. These global retail statistics can help you get started:

  14. The global retail industry’s growth rate is projected to hit 4.9% in 2024, bringing retail sales worldwide to $31.1 trillion.
  15. Global retail sales are projected to reach $32.76 trillion in 2026.
  16. North America leads the number of global retail sales (47.9%), followed by Europe (33.2%), Asia Pacific (15.7%), Latin America (1.7%), and Africa/Middle East (1.3%).
  17. $6.3 trillion is how much global ecommerce sales are expected to total in 2024.
  18. Consumers in the Asia-Pacific (APAC) region are 13% more likely to buy a product now at full price.
  19. 84% of Chinese consumers have shopped on social media channels.
  20. Walmart is the largest retail company in the world.

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