US Retail Market Statistics

The US retail market is also growing day by day. Despite the fall of many big companies, US retail sales are rising rapidly. US retail marketers use modern tools to achieve success in their business sectors. Let’s see the US retail market statistics. 

• There were 442,597 brick-and-mortar retail shops in the US in 2019.
• At present, there are 2.2 million e-commerce vendors in the US. 
• In December 2020, the US retail sales were at $540.9 billion.
• In December 2020, The US retail need saw a 0.7% month-over-month decrease.
• The year-over-year growth was placed at 3.2%.
• The total sales growth was 0.6% in 2020. The growth rate is higher than in 2019. 
• Also, retail sales grew more in 2020 than in 2019. It was from $343.150 million to $374.38 million, showing a 9.1% growth.
• But, unemployment in the retail sector stayed high at 6.7% in 2020 compared to 2019.
• In 2018, the average retail value was $53.98.
• The gross margin in retail was 50.96% in that year. 
• Unfortunately, 5,994 US stores were closed in 2019 alone. 
• Some big retailers are Payless, Gymboree, and Charlotte Russe. 

Big and Small Retailers Statistics

• There are some top brands in 2019, such as Amazon, Apple, Google, Microsoft, and Visa.
• 52.8% of American customers visit Walmart. 
• In 2020, the weekly number of  Walmart visitors was about 265 million. 
• In 2020, Walmart had 11,501 stores.
• In 2019 the average furniture revenue was $40,000, and beer, wine, and spirits ($39,000). 
• Small vendors hire 39.8% of all retail workers.
• Such small vendors have an average monthly revenue of $22,341.
• The gross margin was an average of 51%. 
• In all, retail executives are interested in the following sectors;
• Digital acceleration (88%)
• Supply chain resilience (78%)
• Health and safety (78%)
•  and cost structure realignment (72%).)

However, big or small retail marketers are using new digital tools such as solutions for inventory management.

Leading Inventory Management Software

There are some inventory management software. Let’s have a look at these.

NetSuite ERP:

This excellent software provides complete visibility over your supply chain, from products to other economic data. Likewise, it lets you learn how it helps you optimize all the processes in our NetSuite ERP review here.  

Vend:

 It’s a POS software that works on PC, Macs, and iPads. You can know how it leverages and how you use the other features. 

Zoho Inventory:

 This go-to inventory program is excellent for big and small retailers. It will help you to track inventory and order quickly.  

QuickBooks Enterprise: 

This software is beneficial for the inventory management module. That’s why read the  QuickBooks Enterprise review for more details.  

TradeGecko:

It’s a popular inventory management software with a clean UI and robust web-based deployment. Thus, read more about the features and TradeGecko review.

Customer Retail Preferences Statistics

Before the pandemic hit, there was less value in online stores. Besides, most of the customers preferred physical stores over online shops. The consumers liked events organized by the stores. This is how the pandemic changed consumer behaviors, and so many people feel anxious about physically shopping. Let’s see the customer retail preference statistics. 

• In-store shoppers spend 69% of their total income each month. 
• Yet, 40% of US consumers reduced retail spending after the Covid-19.
•   87% of customers said they want to sell in physical stores.
• 81% of customers also said they want to attend parties organized by physical stores. 
• On the other hand, 80% of customers want to participate in a product tutorial by physical stores. 
• 71% of customers said they wanted to attend a game or competition managed by physical stores. 
• In 2018, 82% of buyers participated in a retail event.
• Thus, COVID-19 caused a significant change in consumer behavior. 
• There is a considerable possibility of supporting retail brands, and about 89 % of US consumers support this, which has a positive impact on the world. 
• 36% more customers tested a new product brand during the pandemic. 
• After COVID-19, 79% of consumers prefer self-checkout.
• Meanwhile, Curbside orders increased by 208% during the pandemic. 
• 59% of customers want to continue curbside pickup after the COVID-19.
•  Based on a pre-Thanksgiving survey completed in 2020, 56% of customers are anxious about shopping in physical stores. 

E-commerce Statistics

The COVID-19 pandemic has undoubtedly driven more consumers to welcome e-commerce. Understanding the latest shopping statistics will make you aware of global economics. 

• Based on the research of 2019, e-commerce only comprised about 9.46% of retail sales. Further, e-commerce took 14.3% of the pie in the third quarter of 2020. 
• Only three executive organizations have mature digital capabilities. Such as contactless capabilities, significant investments in e-commerce, and other technology upgrades are underway. 
• 40% year-on-year of unique online shoppers increased during the pandemic. 
• Americans have around 70% online shoppers. 
• Also, 25% of American adults buy their products from online.  
• In 2020, more than half of US people have purchased groceries online. 
• Half of US consumers like to shop for holidays through online search engines or only retailers. 
• About 20% of online buyers return their online purchases in-store and make an additional purchase. 

Social Media In E-commerce

Social media has made a significant contribution to the economy. Also, Facebook, Whatsapp, Twitter, Instagram, Linkedin, and YouTube are helping e-commerce to proliferate. Social media management software is a popular tool in the e-commerce sector.

• In this regard, Facebook is one of the most popular consumer shopping platforms. Around 85% of orders from social media channels come from Facebook. 
• 84% of US online purchasers review at least one social media platform before buying. 
• 39% of Americans share their experiences on social media platforms. 
• 30% of online buyers have posted feedback online.
• $55 – the average order value for customers comes from Facebook. 
• $46.29 – the average order value for consumers comes from Twitter. 
• Based on a survey in 2029, 25% of e-commerce sellers planned to sell directly on social media in 2020. 
• In 2019, 15% of e-commerce marketers sold their products on social media.