Expanding Your Online Store: Leveraging the Growth of E-Commerce Retail

In 2022, digital commerce in the United States has surpassed $1 trillion, marking the first time this milestone has been reached, excluding the travel sector.

E-commerce reached $1.09 trillion, with the last quarter contributing $332.2 billion. Mobile commerce played a significant role in driving this growth, expanding at twice the rate of desktop e-commerce. Comscore's State of Commerce report highlights that mobile's share of total digital commerce dollars has nearly reached 40%.

Image source Forbes

The top five highest-grossing categories in digital commerce are grocery/baby/pet products, apparel and accessories, computers and consumer electronics, and furniture and appliances.

Image source eMarketer

On the other hand, the five fastest-growing categories include event tickets, digital content, apparel and accessories, video games and accessories, and home and garden products.

The growth of digital commerce has been accelerating, with the pandemic playing a substantial role in driving an additional $300 billion in digital sales over just two years. Adobe also reported record holiday season sales in November and December, totalling $211.7 billion. Additionally, online grocery sales have seen a remarkable 333% growth over the past four years.

Notably, event tickets and online grocery sales have experienced significant growth, with event tickets showing a 75% year-over-year increase and online grocery sales ballooning by 333% over the past four years.

Furthermore, social commerce is on the rise, with notable increases in consumer engagement on platforms such as Facebook, Instagram, and TikTok.