US Ecommerce Growth Rate (2022–2028)
In 2023, ecommerce sales in the United States rose to $1.1 trillion. The latest numbers published by the government suggest that 2024 is on path to achieving record-breaking figures. As it stands, online purchases in the first two quarters of the year have generated $579.5 billion in sales, 7.4% more than the previous year.
These figures support the growing trend of online shopping, as the number of digital buyers in the US increases year after year. For a better understanding of how quickly sales from online shopping are rising, we take an in-depth look at US ecommerce growth rates.
US ecommerce growth rates: table
|
Year |
Annual growth rates of US ecommerce sales |
|
2022 |
6.5% |
|
2023 |
9.0% |
|
2024 |
8.7% |
|
2025 |
8.6% |
|
2026 |
8.8% |
|
2027 |
9.0% |
|
2028 |
8.5% |
US ecommerce growth rate: 2022–2024
Results from a recent analysis show that the US ecommerce growth rate is expected to be 8.7% in 2024, as sales from online transactions rise from $1.1 trillion to $1.2 trillion. This corresponds to a 16.2% market share of retail sales, which means around $1 out of every $6 spent on retail goods in 2024 will be done online.
The US ecommerce growth forecast for 2024 marks a consistent trend of steady growth, although the rate is slightly lower than the previous year. This reflects a maturing ecommerce market, with strong year-on-year increases.
In 2022, US ecommerce sales grew by 6.5%, to just over $1 trillion. This accelerated to 9% in 2023.
US ecommerce growth projections: 2025–2028
Industry analysts expect revenue from online sales to continue rising every year until at least 2028 and at varying growth rates.
US ecommerce growth projections show that in 2025, online sales are forecast to rise by 8.6%, a marginal 0.1 percentage point increase from 2024. This is set to accelerate to 8.8% and 9.0% in 2026 and 2027, respectively, before falling again in 2028, to an annual growth rate of 8.5%.
From 2022 to 2028, US ecommerce sales are expected to rise at an average annual growth rate of 8.4%. Over the same period, experts predict ecommerce penetration will rise by 5.6 percentage points, growing from 14.4% to 20%. Meanwhile, overall annual sales are projected to surge, from $1 trillion to $1.7 trillion.