In 2023, the United States continues to be one of the most exciting markets for global
e-commerce growth. Therefore, business owners and investors from all over the world go to America to conduct business. Why? Because of its stable economy, friendly consumer environment, and constant
e-commerce growth. According to a study by Insider Intelligence, the US will experience double-digit growth in 2023.
The country gathers stability and opportunities, driven by internet reach and because American consumers welcome new trends. In this regard, foreign entrepreneurs can explore growth predctions due to Direct-to-Consumer (D2C) sales, mobile commerce (m-commerce), and Artificial Intelligence.
US e-commerce growth continues in 2023
Among developed markets, the US takes the lead. According to Insider Intelligence, the country is a reliable source of growth in the global scenario.
Furthermore and according to Insider Intelligence, the US is expected to reach $1.148 trillion in
e-commerce sales in 2023, a 10% growth compared to the previous year. Thus, online sales will represent 15.6% of American commerce this year. By 2027, online shopping will be responsible for 20% of goods’ sales.
The clothing, furniture, and electronics sectors will represent over 50% of total e-commerce spending in 2023. However, projections show that by 2027, these categories will closely compete with healthcare and personal care.
For foreign entrepreneurs, one of the best ways to take advantage of this scenario is by opening a company in the United States. Even with a well-established business in their home country, an American company can help set their presence and participate in major marketplaces in the US, making it easier for global sales. Expand your company to the US now and bring your products and brand to the American market.
What is the current state of e-commerce growth in the US?
The United States has experienced significant e-commerce growth since the beginning of the Covid-19 pandemic in 2020. According to an analysis by Digital Commerce 360, consumer spending on online purchases in the US increased by an impressive 32.4% in 2020: a total of $791.7 billion. This increase was particularly significant in the electronics, toys, and furniture.In a historic milestone, e-commerce sales in the United States went over $1 trillion for the first time in 2022. According to data from the US Department of Commerce, the sector generated $1.03 trillion in revenue last year. Although forecasts indicate that market growth may slow, it will probably surpass pre-2020 numbers.
Global Opportunities
The success of e-commerce is not limited to the United States, it happens at a global scale. It is currently estimated that nearly 25% of the world’s population shops online. Insider Intelligence reports that by 2025, the e-commerce market is expected to double in size compared to 2019, with online sales reaching $7.4 trillion. In 2022, sales in this market accounted for 21% of global trade, twice as much as five years earlier.The United States is the world’s second-largest e-commerce market, behind China. In addition to local sales, the country offers international sales through trade agreements with over 20 countries and integration with the world’s largest marketplaces, such as Amazon and Walmart.
3 Trends to Watch in the American Market
Changes in technology and consumer behavior impacted strategies and business models. Therefore, in a competitive market like the United States, entrepreneurs must stay on top of new trends to stand out.
In recent years, Artificial intelligence, the increase of shopping via mobile devices, and the growth of direct-to-consumer sales have become pillars for e-commerce business growth. Each of these trends brings a mix of opportunities and challenges for companies, requiring them to prepare for new demands of an ever-evolving market.
- D2C Growth: Direct-to-consumer sales in the US are growing, with a projected reach of $213 billion by 2024, that is approximately 17% of online sales in the country. The D2C model offers the opportunity to establish a direct connection with customers, understanding their needs and offering customized products, as well as more control over the brand and communication.
- M-commerce: Mobile commerce (m-commerce) is on the rise and has the potential to surpass computer sales by 2026, representing for 40% of online sales as early as this year. M-commerce is popular because is easy, convenient. Driven by technological advancements, it allows retailers to expand and meet consumer needs.
Artificial intelligence: AI is changing e-commerce by enabling a deeper understanding of customers and trend predictability, as well as improving logistics for more efficient delivery. With the continuous advancement of AI, even higher levels of success and innovation are expected, providing personalized and more relevant shopping experiences for each customer.
Discover how to seize e-commerce opportunities in the US
With the e-commerce growth in the United States and around the world, it is evident that there is vast potential for foreign business owners to take advantage of these chances. Expanding into the American market can open doors to global success and business’ recognition. In addition to reach a larger customer base.
Establishing a company in the United States is the first step to take advantage of the US online sales benefits. To expand your e-commerce and bring your products to the American market, count on Globalfy! You will have access to complete platform to conduct business in the US 100% online.
Globalfy’s services are designed to help global business owner start, grow, and expand their companies.
- Company in the US
- Virtual address
- Accounting
- Registered Agent
- Compliance Calendar
- EIN and ITIN processing
- FDIC-insured US business bank account
