E-commerce spending in the U.S. exceeded $1 trillion over the past twelve months. A milestone that pre-pandemic trends predicted would only occur in 2024.
According to the Department of Commerce, e-commerce sales over the past twelve months reached $1.02 trillion. The market has nearly doubled in size in three years.
But for the first time since 2009, e-commerce growth will likely be down to single digits in 2022. The trailing twelve months are up only 9% from the period before, and Q4 will probably grow slower. Admittedly, that’s compared to the historic growth in 2020 and 2021.
E-commerce spending is 25% bigger than pre-pandemic forecasts would have suggested. If the pandemic didn’t happen and e-commerce grew at the rate it was growing for years before, 14-15%, the annualized run rate would have been $815 billion today. A massive $200 billion smaller than the current $1 trillion run rate.US E-Commerce Sales Surpass $1 Trillion – Marketplace Pulse