eCommerce in 2023
By eCommerce

eCommerce has become an increasingly important aspect of the US economy in recent years, and 2023 is no exception. In fact, with the continued growth of online shopping and the ongoing pandemic that has forced many consumers to turn to online retailers, eCommerce is more important than ever before. In this blog post, we’ll take a look at how the US is using eCommerce in 2023 and how much they are spending.

 

First and foremost, it’s important to note that eCommerce is no longer limited to just a few big players like Amazon and Walmart. While these companies certainly still dominate the online retail space, there are now countless other retailers, both big and small, that are taking advantage of the power of eCommerce. This has led to a much more competitive online shopping landscape, with consumers having more options than ever before.

How much is being spent online?

In terms of how much Americans are spending on eCommerce in 2023, the numbers are staggering. According to a report from eMarketer, US eCommerce sales are expected to reach $2.1 trillion in 2023, up from $1.3 trillion in 2019. This represents a compound annual growth rate (CAGR) of 10.4%. By 2023, eCommerce is expected to account for more than 20% of all retail sales in the US.

The Growth of eCommerce

So, what’s driving this growth? For one, the pandemic has certainly played a major role. With many brick-and-mortar stores closed or operating at reduced capacity, consumers have turned to online shopping in droves. But even beyond the pandemic, eCommerce has been growing steadily for years thanks to a number of factors, including:

  • Convenience: Shopping online is simply more convenient for many people than going to a physical store. With the ability to shop from anywhere at any time, eCommerce has made it easier than ever to buy what you need.
  • Price: Online retailers are often able to offer lower prices than brick-and-mortar stores thanks to lower overhead costs. This can be especially appealing to price-sensitive consumers.
  • Selection: Online retailers are able to offer a much wider selection of products than most physical stores. This means that consumers can often find exactly what they’re looking for online, even if it’s not available in their local area.

Of course, there are also some challenges associated with eCommerce. One major issue is the environmental impact of shipping products all over the country (and the world). However, many retailers are working to address this issue by implementing more sustainable shipping practices.

In conclusion, eCommerce is a major force in the US economy in 2023, and it’s only getting bigger. With consumers increasingly turning to online shopping for convenience, price, and selection, it’s clear that eCommerce is here to stay. And with so many retailers now taking advantage of the power of eCommerce, there’s never been a better time to look to start a career in eCommerce.

At Adapt Talent we specialize in eCommerce Recruitment,  Magento Recruitment and AI Recruitment. If you are interested in finding a new position, have a looking at the Adapt Talent vacancies page, or contact us today.