New York, USA, May 23, 2023 (GLOBE NEWSWIRE) -- Market Research Future (MRFR) The Global “USA retail market was valued at USD 5.8 trillion in 2019, an it will reach to 7.05 trillion in 2022” as per the present Market Research Future report.
Report Scope
| Report Attribute | Details |
| Market Size in 2022 | 2022: USD 7.05 Trillion |
| Base Year | 2018 |
| Forecast Period | 2019-2022 |
| Historical Data | 2017 |
| Forecast Units | Value (USD Trillion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Geographies Covered | United States, Canada, Mexico, Greenland, and Rest of others |
| Key Market Drivers | a growing preference for e-commerce |
Get Free Sample PDF Brochure @ https://www.marketresearchfuture.com/sample_request/11644
Key Players:
Eminent industry players profiled in the USA retail market report include Amazon, Walmart, Kroger, Target, and Costco.
Drivers:
Booming E-commerce Sector and Demand for Personalization to Boost Market Growth
With more people than ever shopping online, e-commerce is a major possibility in the retail business. Retailers who can keep up with this development and deliver a flawless online buying experience are expected to experience rapid expansion. Again as a result of consumers' growing desire for personalized shopping experiences, merchants now have the chance to cater their goods and services to specific clients. So both the booming e-commerce industry and demand for personalization will boost market growth over the forecast period.
Opportunities:
Investments in Latest Technology by Retailers to offer Robust Opportunities
For a better consumer experience, retailers have been investing in technology like virtual reality, artificial intelligence, and augmented reality. The retail market has also been significantly impacted by the growing appeal of subscription services like beauty boxes & meal kit delivery services.
Restraints and Challenges
Ecommerce Competition to act as Market Restraint
Ecommerce competition, changing consumer behavior, rising labor costs, high real-estate costs, and economic uncertainty may act as market restraints over the forecast period.
Market Segmentation:
The USA retail market is bifurcated based on use. By use, apparel and accessories will lead the market over the forecast period for the influx of fast fashion retailers & online shopping. Besides, the growing awareness regarding sustainable fashion is also contributing to the positive growth of the segment.
COVID-19 Analysis:
The US retail market has been significantly impacted by the COVID-19 outbreak. In general, several trends that were already in motion—like the move towards e-commerce and the demise of brick-and-mortar stores—have been accelerated by the pandemic. Especially in the initial days of the epidemic when many states enacted lockdowns and stay-at-home orders, one of the most obvious brunt of the epidemic on the retail business has been the closure of many physical stores. While some retailers were successful in making the switch to online sales, others found it difficult to adjust and were ultimately forced to close.
Even retailers who were successful in adjusting to the new environment, though, still faced difficulties. For instance, companies encountered inventory shortages and supply chain disruptions as factories & shipping ports shut down or reduced production. However, e-commerce sales have increased significantly throughout the pandemic. The E-commerce sales within the United States increased by over 30% in 2020, and this growth are predicted to continue in the years to come. Large online merchants like Amazon as well as numerous smaller firms who were able to move their sales online have benefited from this trend.
Overall, the pandemic has hastened the transition to e-commerce & highlighted the necessity for retailers to have a strong online presence. Additionally, it has highlighted the requirement for flexibility and agility in the face of unforeseen challenges and exposed flaws in the retail sector.
Browse Report Details @ https://www.marketresearchfuture.com/reports/usa-retail-market-11644
Regional Analysis:
The West, Northeast, Midwest, South, & Plains States are the five geographically distinct areas that make up the United States. With regard to these, the West region's consumer market is the largest, making up 41.7% of the US retail market during 2019. The second-largest markets, each with 21.4%, are in the Midwest and Northeast. Meanwhile, 13.2% and 3.2%, respectively, of the US retail market were accounted for by the Plains States and the South regions. The West region is known for its laid-back lifestyle and focus on health and wellness. Major shopping destinations include Los Angeles, San Francisco, and Seattle, which are home to a variety of high-end fashion retailers, tech-focused stores, and outdoor lifestyle brands.
The Midwest region is often characterized by its smaller towns and cities, but it is also home to some major retail hubs such as Chicago, Detroit, and Minneapolis. The retail market here is generally more affordable and family-oriented, with a focus on big-box stores and discount retailers. On the other hand, the Northeast region includes some of the largest & most densely populated cities in the country, such as New York, Boston, and Philadelphia. The retail market here is highly competitive and diverse, with a mix of high-end luxury brands, trendy boutiques, and large department stores.
The Southeast region is known for its strong tourism industry and warm weather, which has led to a thriving retail market that caters to both locals and visitors. Major shopping destinations include Miami, Orlando, and Atlanta, which are home to a variety of malls, outlets, and specialty stores while the southwest region includes some of the fastest-growing cities in the country, such as Dallas, Houston, and Phoenix. The retail market here is diverse and dynamic, with a mix of traditional shopping centers, outdoor malls, and specialty stores.
Discover more research Reports on Consumer and Retail Industry, by Market Research Future:
- Hand Sanitizers Market Research Report Information Information By Product Type (Gels, Liquids, Sprays, Others), By End User (Households, Commercials/Institutions, Hospitals & Health Centers), By Distribution Channel (Store-Based, Non-Store-Based) and By Region (North America, Europe, Asia-Pacific, Rest of the World) - Forecast till 2027
- Cotton Yarn Market Research Report Information By Type (Carded Yarn, Combed Yarn, and Others), By Application (Apparel, Home Textiles, Industrial Textiles, and Others), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032
- Hair and Nail Accessories Market Research Report Information By Product Type (Hair Accessories, Nail Accessories) and By Distribution Channel (Store-Based, Non-Store-Based) - Forecast till 2027
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Contact:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
Follow Us: LinkedIn | Twitter
