Retail Statistics

Globally, the retailing industry is steadily inching its way forward and becoming the next boom industry. Consumer spending drives the economy. Consumer buying behavior has altered the whole concept of shopping. Retailing enables customers to have access to a diverse variety of products and services.

This article is a compilation of important retail statistics across a wide range of factors. If you are on the hunt for the latest retail statistics, then without any further delay, dive into the retail statistics listed here.

On this page, you’ll find:

• General Retail Statistics
• U.S. Retail Statistics
• Small and Big Retail Statistics
• Customer Preferences in Retail Statistics
• E-commerce Retail Statistics

Key Retail Statistics

Here are the top stats from the article below:

• The total global retail sales were expected to reach an estimated $26.29 trillion in 2019 and $27.73 trillion by 2020. (Business Insider)

• In the year 2020, the total worldwide retail sales ended with a 3% decline at $23.389 trillion. (eMarketer)

• With a 9.1% growth, the U.S. online retail sales grew to $374.38 million in 2020, from $343.150 million in 2019. (Statista)

• As of December 2020, the total U.S. retail sales were valued at $540.9 billion. (U.S. Census Bureau)

• 98.6% of all retail firms are represented by small retailers with 50 employees or less. (Score)

• In 2019, the top brands were Amazon, Apple, Google, Microsoft, and Visa. (Brandz)

• Each month, customers spend 69% of their discretionary income in-store. (Score)

• After the COVID-19 pandemic, 40% of U.S. consumers reduced retail spending in general. (McKinsey & Company)

• Approximately 9.46% of retail sales are comprised of E-commerce, as of 2019. (Score)

• In the third quarter of 2020, E-commerce represented 14.3% of retail sales. (U.S. Census Bureau)

General Retail Statistics

Despite the COVID-19 pandemic, the retail industry is fairly doing well. The growth of the retail industry depends on the applications that enable the management of varying amounts of data. The first step in the journey of starting a new business is to know the retail reports that are available from diverse sources. Let us first look into general statistics that give us an insight into the retail industry.

• The total global retail sales were expected to reach an estimated $26.29 trillion in 2019 and $27.73 trillion by 2020. (Business Insider)

• In the year 2020, the total worldwide retail sales ended with a 3% decline at $23.389 trillion. (eMarketer)

• In 2020, considering the recent events and conditions, the global retail market was projected to have a compound annual growth rate (CAGR) of -1%. (Research and Markets)

• In 2021, it is estimated that the overall global retail will rebound to 5.1% CAGR. (eMarketer)

• Compared to 2019, the global retail E-commerce sales grew by 27.6% in 2020, with a total of $4.280 trillion. (eMarketer)

• The most profitable industries are building supplies and distribution centers by a 5% net margin. (Investopedia)

• As a result of the COVID-19 pandemic, 6 out of 10 retailers say they will recover in 1 or 2 years, while the remaining say they need 2-5 years to recover. (Deloitte)

• An estimated 95% of all purchases are done through E-commerce. (Nasdaq)

• Globally, there are around 7.9 million E-commerce retailers. (Etailinsights)

• With $792.5 million (33.3% of the global total) in sales, China is the largest e-commerce market in the world. (eMarketer)

U.S Retail Statistics

Even though many big companies closed owing to the COVID-19 pandemic, U.S. retail sales continue to rise. In the U.S., domestic retail markets are very competitive. American companies are the world’s leading retailers. Let us dive into some statistics that throw light upon the retail statistics of the United States.

• With a 9.1% growth, the U.S. online retail sales grew to $374.38 million in 2020, from $343.150 million in 2019. (Statista)

• As of December 2020, the total U.S. retail sales were valued at $540.9 billion. (U.S. Census Bureau)

• Compared to 2019, the total U.S. retail sales showed a 0.6% growth for the entire 2020. (U.S. Census Bureau)

• In the U.S., there were 442,597 brick-and-mortar retail stores as of 2019. (NACS)

• In the U.S., there are 2.1 million E-commerce retailers. (Etailinsights)

• Compared to 2019, unemployment in the retail sector remained high at 6.7% in November 2020. (Deloitte)

• In the U.S., Amazon accounted for around 39% of online commerce spending in 2020. (eMarketer)

• Around 12,200 U.S. retail stores closed in 2020 because of the COVID-19 pandemic. (Fortune)

• As of 2018, $53.98 was the average retail transaction value. (Vend)

• In 2020, bankruptcy was filed by around 125 consumer goods and retail companies. (Fortune)

Small and Big Retail Statistics

Small retailers can pick up their businesses from the slack of big retailers. With the help of business intelligence tools, both big and small retailers dive into their businesses with a shrewdness which the enterprising predecessors lack these days. They avoid many pitfalls in the modern world by having a better understanding of the market. Now, let us look into some interesting small and big retail statistics.

• 98.6% of all retail firms are represented by small retailers with 50 employees or less. (Score)

• In 2019, the top brands were Amazon, Apple, Google, Microsoft, and Visa. (Brandz)

• In any given month, Walmart is visited by 52.8% of American consumers. (USA Today)

• As of 2020, Walmart had 11,501 stores. (Walmart)

• 39.8% of all retail employees are employed by small retailers. (Score)

• The monthly revenue of small retailers is an average of $22,341. (Score)

• Per month, U.S. SMBs process about 482 transactions. (Vend)

• In 2021, digital acceleration (88%), supply chain resilience (78%), health and safety (78%), and cost structure realignment (72%) are the top investment priorities for retail executives. (Deloitte)

• Small and big retail businesses manage their processes by using digital tools such as solutions for inventory management. (Finances Online)

• The furniture industry heads the small retailers by an average of $40,000 in revenue. (Score)

Customer Preferences in Retail Statistics

Most of the customers usually prefer physical stores over online shops. Many events were organized by the stores to attract customers towards them. Customers enjoyed such events making those stores even more popular. But after the COVID-19 pandemic, customer behaviors changed. It is now time to look into some retail statistics which will give us a better idea of the customer preferences.

• Each month, customers spend 69% of their discretionary income in-store. (Score)

• After the COVID-19 pandemic, 40% of U.S. consumers reduced retail spending in general. (McKinsey & Company)

• To shop, 73% of customers use multiple channels. (Harvard Business Review)

• 87% of consumers began their shopping quest online in 2018. (Salesforce)

• Retail brands that have a positive impact on the world are more likely to be supported by 89% of U.S. consumers. (GroundTruth)

• During the COVID-19 pandemic, curbside orders increased by 208%. (Adobe Analytics)

• 62% of consumers want to “see, touch, feel, and try out” items and hence choose to buy from physical stores. (Retail Dive)

• For in-store purchases, 82% of smartphone users consult their phones. (Think with Google)

• 40% of data analytics projects related to customer experience in 2020. (Gartner)

• In 2020, 56% of consumers were found to be anxious about shopping in stores. (Deloitte)

E-commerce Retail Statistics

Not long ago, many consumers were against the idea of sharing their private financial information all over the internet. Slowly, people started changing their perception of E-commerce. The growing acceptance of consumers is reflected by the numbers that are mentioned here. Let us take a look into some surprising E-commerce retail statistics.

• Approximately 9.46% of retail sales are comprised of E-commerce, as of 2019. (Score)

• In the third quarter of 2020, E-commerce represented 14.3% of retail sales. (U.S. Census Bureau)

• In 2020, 25% of E-commerce companies planned to sell directly on social media. (SearchNode)

• During the COVID-19 pandemic, the number of unique online shoppers rose to 40%. (Social Media Today)

• Around 69% of Americans have done online shopping. (OptinMaster)

• At least once a month, 25% of American adults shop online. (Oberlo)

• An additional purchase is made by about 20% of buyers who return an online purchase in-store. (Synchrony Financial)

• Facebook is the origin for 85% of orders from social media channels. (Shopify)

• Before buying, at least one social media platform is reviewed by 84% of U.S. online buyers. (Pew Research Center)

• Online feedbacks are posted by 30% of online customers. (KPMG)

Conclusion

Now that we have come to an end, this article would have surely helped you in understanding what is happening with the global economy and where it is heading towards. When it comes to social media, mobile devices have played a significant role in ushering a new age for the retail industry globally.

The simplicity of business operations is what helps the retail industries in moving forward. Navigate your business further with the help of these statistics.