Xin Ou
Research expert covering Greater China
Retail market in the U.S. - statistics & facts
The United States has one of the largest retail markets in the world and many of the biggest retail companies are located there. Over the last couple of decades, total retail sales numbers in the United States have grown considerably, from just under three trillion U.S. dollars in 2000 to more than 7.2 trillion dollars in 2023. This was an increase of more than 147 billion dollars from the previous year, and growth is expected to continue over the coming years, albeit at a slower rate, reaching roughly 10.4 trillion U.S. dollars in retail sales by 2028.
As seen from the numbers, the retail market was not affected significantly by the recent economic fluctuations and is likely to continue to grow further in the upcoming years.
General merchandise
One of the largest sectors within the United States retail market is general merchandise. This sector is comprised of stores which do not specialize in one type of product, but offer a wide range or consumer goods, from apparel and home furnishings to electronics. These are stores such as department stores, dollar stores, or big box retailers. In 2023, general merchandise stores made sales of approximately 874 billion U.S. dollars, continuing the pattern of constant year-on-year growth since 2009. In comparison, clothing and clothing accessories store sales amounted to roughly 307 billion dollars in the same year.Amazon vs. Walmart
Two of the largest retailers in the United States are Amazon and Walmart. Amazon is undoubtedly the leading company in the e-commerce market, with net e-commerce sales of close to 153 billion U.S. dollars in 2024, and one of the most trusted companies by consumers in the retail market. While Amazon was the leading online retailer, Walmart was the top U.S. retailer overall in 2023, based on retail sales. Founded by Sam Walton in Arkansas in the 1960s, Walmart is one of the largest retail corporations in the United States and the world. The company generated an estimated 534 billion U.S. dollars’ worth of retail sales in the United States, which was more than double the amount generated by Amazon.com that year.As seen from the numbers, the retail market was not affected significantly by the recent economic fluctuations and is likely to continue to grow further in the upcoming years.
