US’ retail e-commerce sales may exceed $1 trillion this year: Report

US retail e-commerce sales will exceed $1 trillion for the first time in 2022 as the flexibility and convenience customers found during the pandemic sticks, according to a recent report.

Spend shifting online will drive double-digit e-commerce spending growth. The average spend per digital buyer will grow at 11.6 per cent compound annual growth rate (CAGR) between 2022 and 2025 to reach nearly $7,000, versus 1.9 per cent CAGR for the number of total digital buyers.

Customers will buy more on mobile, which will exceed 4 in 10 retail e-commerce dollars for the first time this year. Rising time spent on mobile will trickle into shopping. The biggest beneficiary will be smartphones, which will make up 85 per cent of m-commerce sales this year, eMarketer said in the report.

US retail e-commerce sales are likely to exceed $1 trillion for the first time in 2022, as per a new report. Spend shifting online will drive double-digit e-commerce spending growth and its average spend per digital buyer will grow at 11.6 per cent CARG between 2022-2025 to reach nearly $7,000 versus 1.9 per cent CAGR for the number of total digital buyers.

Desktop and laptop retail e-commerce growth will decelerate as the segment bleeds share. Growth in this segment will lag e-commerce overall through 2025, said eMarketer in the report.

To align with usage trends, checkout providers will double down on optimising the mobile payments experience. PC-based e-commerce volume still exceeds mobiles, so providers will not eschew it entirely. But in 2022, they will focus resources on developing mobile offerings beyond one-click buy buttons. 

Providers will streamline checkout processes through services like mobile browser extensions that target shoppers’ preferred channels, tighter super app integrations, and new tech like shoppable video, the report added.

Fibre2Fashion News Desk (SF)