US Ecommerce Sales (2010 – 2020)
Data from the US Department of Commerce shows that US ecommerce sales have been growing steadily for over a decade.
In 2020, total US ecommerce sales reached $787.9 billion, a 32.3 percent year-over-year increase from 2019’s $595.7 billion. It’s also the fastest US ecommerce growth rate in ten years, nearly doubling the second-highest growth rate of 17.7 percent in 2011.
That marks an impressive increase from the turn of the decade in 2010. In one decade, annual US ecommerce sales multiplied by over 4.5 times.
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US Ecommerce Sales in 2020
The latest figures show that in the final quarter of 2020, US ecommerce sales totaled $206.7 billion. Even though it marks a slight 1.2 percent fall from the previous quarter, it’s still an impressive 32.1 percent year-over-year increase.
Despite modest falls in the final two quarters, US ecommerce growth was still significant in 2020. In fact, in the first three quarters of 2020 alone, US ecommerce sales totaled $581.3 billion. This made up 97.6 percent of 2019’s total ecommerce sales.
The strongest quarter of 2020 was Q2, during which US ecommerce sales hit a record-high $211.6 billion—an impressive 31.9 percent quarterly increase. This is noteworthy growth, particularly during the coronavirus pandemic as US consumer confidence fell to its lowest point around this time of the year.
Unsurprisingly, the two largest ecommerce companies in the US have also witnessed skyrocketing sales in 2020.
According to the latest figures from Amazon, total sales in 2020 hit $386.1 billion—a 38 percent increase from 2019 and surpassing the $100 billion mark for the first time. Walmart, the second-largest ecommerce company in the US also saw its ecommerce sales soar by 69 percent in the fourth quarter.
US ecommerce growth has been boosted by the coronavirus pandemic. As governments impose lockdown measures to keep consumers at home, many have turned to online shopping. Analysts say this has accelerated the shift to ecommerce by as many as five years.
With that said, not only are ecommerce sales increasing but so is the US ecommerce market share of total retail sales. The ecommerce market share in Q4 2020 came in at 14.0 percent of overall retail sales. This is a 2.7 percentage point increase from Q4 2019’s 11.3 percent.