United States Retail Market Report and Forecast 2024-2032

United States Retail Market Size

The United States retail market is projected to grow at a CAGR of 2.4% during the forecast period of 2024-2032. The market is being aided by technological advancements and innovations.

United States Retail Market Outlook

The United States retail market expansion is being fuelled by the growing adoption of AI tools for personalising customers’ shopping experiences, recommending products, managing inventory, and taking feedback regarding service delivery. The adoption of advanced technologies enables retailers to respond to market demands timely, further facilitating the discovery of new products on social media channels for consumers.

Major retail stores within the USA are expected to adopt virtual reality tools to create immersive experiences by facilitating product trials and enhancing in-store consumer experience, thereby leading to the United States retail market development. In 2020, retail sales of products recorded a y-o-y growth of 3% and reached a value of USD 5570.4 billion.

The Rising Demand for Food and Beverages is One of the Crucial United States Retail Market Trends

• Food and beverages are expected to lead the United States retail market share, with a CAGR of 2.8%, reflecting strong demand in this essential category. 

• Apparel and footwear follow with a projected CAGR of 2.6%, driven by steady consumer spending on clothing. 

• Consumer electronics are assessed to grow at a CAGR of 2.5% between 2024 and 2032. The growing interest in technology and gadgets is boosting the United States retail market revenue. 

• Health and beauty products are expected to see a growth rate of 2.3%, while home and garden items are projected to grow at 2.2% during the forecast period of 2024-2032. 

• As per the United States retail market analysis, the "Others" category is expected to grow more modestly, with a CAGR of 1.9%, suggesting slower growth in less dominant retail segments.

The Growing Demand for Retail Products Among Individuals and Businesses is Driving the United States Retail Market Growth

• Individual consumers are expected to drive the market with a CAGR of 2.7% during the forecast period of 2024-2032. The United States retail demand growth is being aided by the importance of consumer spending in the retail sector.

• Businesses follow with a CAGR of 2.5%, indicating steady demand for retail products within the business community. 

• As per the United States retail industry statistics, the "Others" category is expected to grow at a slower rate, with a CAGR of 2.3%, indicating less significant growth in niche or emerging end-user segments.

United States Retail Market Regional Analysis

• The Far West region is projected to lead with a CAGR of 2.8%, followed by the Rocky Mountain and Southwest regions, with CAGRs of 2.6% and 2.5%, respectively. The Southeast is also expected to see steady growth at 2.4%.

• The United States retail market regional insights show that regions like New England, Mideast, and Plains are anticipated to grow more slowly, with CAGRs ranging between 1.8% and 2.3%. This trend suggests that retail growth will be stronger in the western parts of the country, while the northeastern and midwestern regions may see more modest increases.

Key Questions Answered in This Report:

• How has the United States retail market performed historically, and what are the growth expectations for the future?

• What are the primary factors influencing demand and growth in the United States retail market?

• What are the key segments within the United States retail market, and how are they expected to evolve over the forecast period?

• What are the major challenges and opportunities facing stakeholders in the United States retail market?

• Who are the key players in the United States retail market, and what strategies are they employing to maintain a competitive edge?

• What are the regulatory and policy factors influencing the United States retail market globally or regionally?

• How competitive is the United States retail market according to Porter's five forces analysis, including factors like bargaining power of buyers and suppliers?

• What are the current trends shaping the United States retail market landscape, and how are they expected to evolve in the future?

• How are technological advancements impacting the United States retail market, and what role do innovation and R&D play in driving growth?

• What are the consumer preferences and buying behavior trends influencing the United States retail market?

• How sustainable are current growth rates in the United States retail market, and what factors could potentially disrupt these trends?

• What are the regional dynamics within the United States retail market, and how do they contribute to overall market growth?

• What are the economic factors influencing the United States retail market, such as GDP growth, inflation rates, and currency fluctuations?

• How are demographic shifts, such as aging populations or urbanization trends, affecting demand in the United States retail market?

• What are the key strategic partnerships, mergers, and acquisitions shaping the competitive landscape of the United States retail market?

• What are the regulatory and legal frameworks impacting the United States retail market globally or in key regions?

• How are changing consumer lifestyles and preferences influencing product or service demand within the United States retail market?

• What are the emerging market trends and niche opportunities within the United States retail market that stakeholders should be aware of?

• How resilient is the United States retail market to external shocks or disruptions, such as geopolitical tensions or natural disasters?

• What are the potential barriers to market entry and growth for new players in the United States retail market?

Key Benefits for Stakeholders:

Expert Market Research's industry report provides a comprehensive quantitative analysis of various market segments, historical and current market trends, and forecasts the dynamics of the United States retail market spanning from 2018 to 2032.

The research report delivers up-to-date insights into the market drivers, challenges, and opportunities shaping the United States retail industry.

Stakeholders can leverage Porter's five forces analysis to assess the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. This analysis aids in evaluating the competitiveness and attractiveness of the United States retail market.

The competitive landscape section enables stakeholders to gain a deep understanding of their competitive environment. It offers insights into the current market positions of key players, their strategies, and their market shares.

Additionally, the report highlights emerging trends, regulatory influences, and technological advancements that are pivotal for stakeholders navigating the United States retail market landscape.

Key Highlights of the Report