US E-Commerce Market Size (2024 - 2029)

Us Ecommerce Market Analysis

The US E-Commerce Market size is estimated at USD 1.19 trillion in 2024, and is expected to reach USD 1.86 trillion by 2029, growing at a CAGR of 10.35% during the forecast period (2024-2029).

• The e-commerce market in the United States is highly developed owing to the presence of major market vendors and a growing number of online shoppers. In addition, Online shopping in the United States is gaining popularity owing to the growth in internet users shopping online, rising online shopping for beauty and fashion products, and the increase in mobile adoption and social media penetration.
• The country's e-commerce market is evolving rapidly, and one of the notable trends is the increasing use of digital payments for online shopping. This can be attributed to technological advancements, changing consumer preferences, and the overall growth of the e-commerce sector.
• Advanced technologies like artificial intelligence (AI) and machine learning (ML) are reshaping the US e-commerce market. For example, Brooks Brothers, the nation's oldest apparel brand, entered into a strategic collaboration with Metrical in November 2023. This partnership aims to bolster e-commerce sales by leveraging AI and ML to predict online shopper behavior. Metrical's AI/ML algorithms prioritize consumer privacy, operating anonymously without Personally Identifiable Information (PII).
• In the coming years, the growing presence of well-known and popular e-commerce companies in the country, coupled with technological innovation in the payment gateway landscape, will positively impact the e-commerce market by giving consumers a wide variety of products to purchase online and have them delivered to their address. The presence of various BNPL offering vendors in the country is expected to positively impact the growth of the e-commerce market, as these vendors offer consumers versatile payment methods such as Buy Now Pay Later (BNPL) for online shopping.
• According to the financial guidance platform NerdWallet, the popularity of Buy Now, Pay Later (BNPL) plans surged significantly. As per NerdWallet's '2024 State of Consumer Credit Report', BNPL plans rank as the second most utilized credit payment option among US consumers, with an adoption rate of nearly 25%. Such factors are expected to fuel market growth over the forecast period.

Us Ecommerce Industry Segmentation

E-commerce is the buying and selling of goods and services over the Internet through online shopping. However, this term is often used to describe all the seller's efforts in selling products directly to consumers. It begins when potential customers learn about a product, buy it, use it, and ideally maintain lasting customer loyalty.

The US e-commerce market is segmented by B2C e-commerce (beauty and personal care, consumer electronics, fashion and apparel, food and beverages, furniture, and home) and B2B e-commerce. The report's scope includes market sizes and forecasts for the segments, with the B2C channel being further segmented by application. The market sizes and forecasts are provided in terms of value (USD) for all the above segments.