Online shopping in the U.S. has topped $1 trillion for the first time, excluding travel … [+]
Digital commerce has crossed the $1 trillion mark for the first time in just one year, according to Comscore. E-commerce will reach $1.09 trillion in the U.S. by 2022, with $332.2 billion in the most recent quarter, according to an exclusive Forbes article. This does not include travel, which would add several hundred billion dollars in revenue.
The main driver.
Mobile that grew twice as fast as desktop e-commerce.
“The strong 18% growth in digital commerce in Q4 was driven primarily by 26% year-over-year growth in mobile,” according to Comscore’s latest State of Commerce report. “After hovering in the low 30s for several years, mobile’s share of total digital commerce dollars has reached nearly 40%.”
Digital commerce in the US has accelerated to $1 trillion
The top five highest earning categories are:
- Grocery/Baby/Pets: $219 billion
- Clothing and accessories: $175 billion
- Computers and peripherals: $117 billion
- Consumer electronics: $85 billion
- Furniture and equipment: 76 billion dollars
The five fastest growing categories are:
- Event tickets: 75% increase
- Digital content: 60% growth
- Clothing and accessories, up 37%
- Video games and accessories, up 31%
- Home and Garden: 25% increase
Digital commerce growth continues to accelerate, according to Comscore. While it took four years starting in 2013 to increase US e-commerce by $129 billion, the following four years nearly doubled that amount to another $264 billion. But just two years of the Covid pandemic added even more: an additional $300 billion in digital sales.
It’s not just Comscore.
Adobe said last year’s holiday season sales were another record, with $211.7 billion between November and December. The discounts, Adobe says, drove additional sales despite the inflated price. Comscore’s estimate for the full Q4 2022 period is $239 billion.
Online grocery sales have grown 333% over the past 4 years.
One of the big stories of 2022 was the massive increase in event tickets, says Comscore.
Event tickets up 75% year-on-year show impact of Covid reopening. Not only are dollars growing in that space, but online ticket sales are now growing for 90% of the market. Just a few years ago, in 2019, in-person ticket purchases still accounted for the majority of sales.
Another area that has seen significant growth is grocery, up 333% in the four years from 2018 to the end of 2022. In the fourth quarter of 2018, Americans spent just under $15 billion to buy groceries online. By the fourth quarter of 2022, that number had risen to $64 billion, with nearly half of that on mobile devices.
Social commerce is also on the rise, says Comscore, with 153% more engagement on retail and brand-sponsored content on Facebook and 175% on Instagram. Relative newcomer TikTok also saw growth, with 33% more “actions” in consumer product categories and a 150% increase in direct retail. But views, which don’t necessarily translate directly to sales, grew a staggering 407% between 2020 and 2022 for US retail and consumer packaged goods brands.
Interestingly, 86% of TikTok users also use or at least visit Amazon.
Social commerce, Comscore concludes, is becoming a larger part of the retail ecosystem.
.
Comments