US ecommerce sales are projected to continue double-digit growth, up 17.9% in 2021 to $933.30 billion. We project ecommerce sales will surpass $1 trillion in 2022 and make up over 20% of total retail sales by 2024.
Although the pandemic accelerated the shift to mcommerce, its rapid growth will not end with the return to normal. If anything, people are more willing to try mcommerce innovations than they were two years ago.
US retail mcommerce sales grew at 41.4% in 2020 and will grow another 15.2% in 2021, to reach $359.32 billion. Annual sales should nearly double between now and 2025.
This year, Latin America will continue to hold its No. 1 spot as the world’s fastest-growing regional retail ecommerce market, at 25.6%, before ceding it to the Middle East and Africa in 2022. Brazil, Argentina, and Mexico will each maintain a spot in this year’s top five fastest-growing retail ecommerce markets.
The region’s wider embrace of ecommerce partly stems from the fact that two of its economic powerhouses—São Paulo, Brazil, and Buenos Aires, Argentina—have been under some of the longest government-mandated lockdowns worldwide since March 2020.
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