NEW YORK—e-Commerce sales in the United States reached $250 billion in the first quarter of the year, representing a 6.6% increase from 2021.
“That's already more than twice the amount that experts expected the U.S. e-commerce market to reach in 2022, with revenue over $875 billion. The U.S. may be on track to record its highest annual online sales ever. With a 16.1% growth rate, there's no denying that the market is ready to unlock $1.06 trillion in 2022,” Finextra said.
The news outlet noted that China's online sales supremacy may now be threatened by the U.S.
“Despite its lead in the global e-commerce market, with total online sales over the $2 trillion mark in 2021, these numbers lag behind. The e-commerce race is on…,” Finextra said.
As consumer behavior changes and online sales increase, e-commerce continues to climb, with no end in sight, Finextra noted.
Fashionable Payments
The fashion and apparel segment remains the largest for online sales, with sales expected to reach $1.003. trillion by 2025.
Soft and digital goods are also expected to dominate e-commerce sales. But it's the food and beverage segment that has seen the most explosive growth, and by 2023, online grocery sales will make up 11.2% of total U.S. grocery sales, Finextra said.
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