US E-commerce Sales Set To Surpass $1.1 Trillion in 2023 — Retail Bum

Online retail sales in the United States are expected to surge to $1.14 trillion this year, representing a 10% year-over-year increase, according to the 2023 U.S. Online Retail Report by FTI Consulting.

The report, which is based on a survey of 1,000 U.S. consumers, estimates that eCommerce will account for 42% of the overall retail sales growth in the current year.

The sales growth forecast is consistent with the eCommerce industry’s upward trajectory over the past few years. Another report published by Forrester in August 2022 predicted that eCommerce sales in the United States would reach an impressive $1.6 trillion by 2027.

This surge is being driven by increased purchases across several product categories, including food, pet supplies, baby products, clothing, and accessories. Last year alone, eCommerce sales in the U.S. surpassed the $1 trillion mark.

The 2022 holiday season further contributed to this momentum, with online shoppers spending a record-breaking $211.7 billion on online purchases, marking a 3.5% increase compared to the previous year, as reported by Adobe in January 2023. These reports collectively reflect eCommerce’s consistent and significant growth in recent years.