Market Trends of US E-Commerce Industry
This section covers the major market trends shaping the US E-commerce Market according to our research experts:
Increasing adoption of technologies
- The rising presence of mobile shopping in the US e-commerce market is a growing trend. Smartphones are the most popular online purchase in the United States. This large base of mobile buyers affects mobile commerce revenue, which is expected to account for nearly 6% of retail sales in 2021.
- The increased adoption of technologies such as IoT and machine learning in healthcare is expected to boost the growth of the global B2C e-commerce market over the forecast period. This is due to the rise of low-cost smartphones, the expansion of telecom infrastructure, and an increasing number of product launches with more advanced features. However, rising cybercrime, digital fraud, and other malpractices may stifle market growth shortly.
- Businesses are looking to improve their conversion rates after 2020 by optimizing their product pages. Furthermore, multichannel selling is another way to get conversions through Facebook advertising or Google shopping ads.
- The pandemic generated new trends, including an increase in consumption at home, an increase in online shopping in this segment, and an increase in consumers shopping online. During the pandemic, more people bought food online and prepared meals rather than ordering ready-made meals. There is also a trend toward more online payments and less cash-on-delivery due to the risk of infection from banknotes.
- Digital's share of total retail sales has increased gradually over time. Consumers gradually became more comfortable making online purchases, and retailers improved their fulfillment operations, allowing packages to be delivered more quickly. On the other hand, the pandemic accelerated e-commerce adoption by two years. Before 2020, no year had ever increased digital penetration by more than two percentage points over the previous year.
Understand The Key Trends Shaping This Market
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