In recent years, technology sectors have immensely grown in the United States, creating even more opportunities for entrepreneurs and investors. Even traditional markets, such as retail, are impacted by the changes. According to a report published by the FTI, e-commerce will reach US$1.07 trillion in sales in the US by the end of this year. This is a clear signal for international entrepreneurs to enter the American market and enjoy the perks of the e-commerce boom.
The forecast points to a historic milestone for this market: it will be the first time the sector will exceed US$1 trillion in sales in the country. Since 2020, the e-commerce landscape has changed a lot. Before that, sales were predicted to surpass the $1 trillion mark in 2025 alone. However, with the coronavirus pandemic, online shopping has become a necessity.
Even with concerns about the economy, the online sales market is stable in the US. For entrepreneurs worldwide, this is an opportunity to reach new markets more safely. To follow this path, the first step is to open a company in the United States. In just 5 minutes, you can be part of this market with Globalfy!
Keep reading to understand more about this market and how this new milestone can help your business!
FTI Consulting Predicts Growth in US e-commerce Landscape
Looking at the post-pandemic scenario, FTI Consulting’s report predicts that the e-commerce space in US commerce will remain secure. Also, in 2022, online sales will represent 22.1% of total sales in the country.
The consumption habits of Americans have changed in the last two years: in 2021, 74% of US consumers said they would continue shopping online after the pandemic. In this period, the sales landscape has completely changed with many physical stores closed and more people working remotely.
Even with the easing of the pandemic this year, it is predicted that by 2030 e-commerce sales in the US will reach the $2 trillion mark. Estimates show that market growth may slow down, but it will continue with higher numbers than the period before 2020.
In addition to the research carried out by FTI Consulting, other studies have reached similar conclusions. Emarketer and Adobe Analytics also predicted that 2022 would be the year online sales hit the first trillion milestone in the United States.
What does this mean for international entrepreneurs?
Between March 2020 and February 2022, US consumers spent $1.7 trillion on e-commerce sites. Compared to other countries, the numbers show the strength of the American market. Currently, America is the second largest market for online sales, second only to China.
Check out some key numbers below to understand how this reflects on the international scene.
UK: $169 billion
Japan: $144 billion
India: $67.5 billion
Brazil: $26.1 billion
Mexico: $23.2 billion
USA: $1.07 trillion
For international entrepreneurs, the years of growth in this market mean an opportunity to expand your business to the US and take advantage of this ecosystem.
With great names, such as Amazon and Wayfair, the American marketplace has major potential for companies. In addition to reaching a new market, these platforms work as a test, without having to develop an e-commerce site of their own.
Even outside the United States, you can sell your products in the country. Through companies like Globalfy, the complete logistics operation for your e-commerce in the United States can be done easily.
Read on to discover even more advantages this market offers!
Other important statistics
In addition to the US market, e-commerce is also growing globally. By 2021, it is estimated that 2.14 billion people have purchased goods or services online, which means that approximately a quarter of the world’s population is already participating in this space.
Insider Intelligence predicted that by 2025 this market will double in size compared to 2019. With the rapid growth caused by Covid-19, online sales are expected to reach $7.4 trillion.
Later this year, e-commerce sales are expected to account for 21% of global commerce. 5 years ago, this market only accounted for 10% of total sales.
Acting in the United States can also be a way to reach other large markets. A recent survey shows that 76% of consumers shop online from websites outside their own country.
Take part in the American e-commerce ecosystem and enjoy the economic boom
For international entrepreneurs, expanding their business to the US is a unique opportunity. With the changes in recent years, the e-commerce sector is a possibility for companies to arrive in the country.
In addition to the e-commerce sector, the American economy offers benefits to companies in several areas. The country offers good business opportunities, a large number of potential investors, and excellent tax and financial systems for international entrepreneurs.
To do this, check out Globalfy’s all-in-one plan to start your business in the US at the best price! Also, get one year of Business Address and a Business Bank Account for your company in the USA.