With a big boost from inflation, e-commerce sales revenue in the US exceeded $1 trillion for the first time in 2022. But a far more reliable metric of its growth rate—the e-commerce share of overall retail sales—appears to be stalled between 14% and 15%.

Direct-to-consumer sales exploded during the lockdowns of the pandemic. At one point in 2020, US consumers were buying an estimated 70% of their groceries online. E-commerce sales as a percentage of total retail sales surged to a peak of 16.4% in Q2 2020, up from pre-pandemic levels that hovered around 14%.

"The e-commerce share of retail was growing at about 1% per year prior to the pandemic, but the surge in 2020 pulled forward growth by about three years. What we have seen since that initial surge is a leveling off in terms of the penetration rate," James Bohnaker, Senior Economist, Cushman & Wakefield, told GlobeSt.com.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.