{"id":33011,"date":"2023-09-12T11:41:47","date_gmt":"2023-09-12T15:41:47","guid":{"rendered":"https:\/\/www.bloomberg.com\/company\/press\/e-commerce-to-account-for-33-of-us-retail-sales-by-2027-finds-bloomberg-intelligence\/"},"modified":"2023-09-12T11:41:47","modified_gmt":"2023-09-12T15:41:47","slug":"e-commerce-to-account-for-33-of-us-retail-sales-by-2027-finds-bloomberg-intelligence","status":"publish","type":"press","link":"https:\/\/www.bloomberg.com\/company\/press\/e-commerce-to-account-for-33-of-us-retail-sales-by-2027-finds-bloomberg-intelligence\/","title":{"rendered":"E-Commerce to Account for 33% of US Retail Sales by 2027, Finds Bloomberg Intelligence"},"content":{"rendered":"
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A new Bloomberg Intelligence report finds that e-commerce will grow at a 10% CAGR to $2.55 trillion over the next five years<\/b><\/p>\n

Almost 60% of the increase may be driven by digitally native retailers<\/b><\/p>\n

Amazon leads the market, but brick-and-mortar stores are gaining quickly after investing heavily in omnichannel capabilities<\/b><\/p>\n

New York, September 12, 2023<\/em> \u2014 Digital commerce has quickly grown from a nascent technology to many customer\u2019s preferred means of shopping, and is set to grow from just 25% of all US retail sales in 2022 to a third of all sales by 2027, according to a new report by Bloomberg Intelligence (BI). The report finds that the adoption of generative AI, and \u200b\u200blow barriers to entry as well as new sales channels like social, voice, and video commerce could help compound the boost to ecommerce sales driven by the Covid-19 lockdowns in the US with further growth to come.<\/span><\/p>\n

The research finds that the pandemic accelerated digital adoption by about three years as many consumers were forced to rely on these alternative retail channels due to lockdowns across the country. New growth will come from a mix of established digital natives like Amazon.com, which will continue to lead the gains, and digital offerings from brick-and-mortar giants like Walmart will add around $1 trillion to online sales, with digital natives driving more than 50% of these gains.<\/span><\/p>\n

This increased demand is driven by outsized gains across most digital and non-digital companies, but this growth also leads to more expected conveniences, like fulfillment, marketplaces, payments and new technologies like generative AI. Amazon is still the clear leader in the gains of this new technology \u2014 serving over 160 million US Prime members \u2014 but Walmart, Macy\u2019s Kroger, and Best Buy are making strides in the area. Walmart has focused its efforts on ramping up its marketplace with the launch of its own fulfillment service to better compete in the e-commerce space with Amazon.<\/span><\/p>\n

Poonam Goyal<\/b>, Senior Retail Analyst at Bloomberg Intelligence and the lead author of the report said: \u201cE-Commerce is poised to continue its explosive growth since the Covid-19 lockdowns and may account for a third of all US retail sales over the next five years. New technologies like generative AI, augmented reality, e-wallets, and cloud-based software that allows smaller merchants to create their own digital stores are making e-commerce more powerful, more useful, and driving rapid digital adoption.\u201d<\/span><\/p>\n

Figure 1: BI\u2019s U.S. E-Commerce Sales Forecast<\/strong>
\n\"\"<\/p>\n

While digital penetration is strong and will continue to climb at a steady pace according to BI data, it still has significant room to rise across all sectors. Digital sales may be affected most strongly by brick-and-mortar merchants like Walmart, Target, and Costco as they continue to grow their digital efforts. Apparel and electronics digital penetration may reach equilibrium in the coming years but auto continues to be sticky, as most sales and maintenance are still conducted in person. Auto makes up around 22% of total retail, and their resistance to digital penetration may keep US retail sales to reach equilibrium.<\/span><\/p>\n

The full 2023 E-Commerce report, including a series of notes focused on different retail sectors including apparel, food & beverage and building materials will be available to Bloomberg Terminal subscribers who can access the report via {BI<GO>}.\u00a0<\/span><\/p>\n

Contact<\/strong>
\nOktavia Catsaros
\nBloomberg Intelligence
\nocatsaros@bloomberg.net<\/a><\/p>\n

About Bloomberg Intelligence<\/strong>
\nBloomberg Intelligence (BI) research delivers an independent perspective providing interactive data and investment research on over 2,000 companies, 135 industries and all global markets. Our team of over 400 research professionals help our clients make decisions with confidence in the rapidly moving investment landscape. BI analysis is backed by live, transparent data from Bloomberg and more than 600 third-party data contributors that clients can use to refine and support their ideas. Bloomberg Intelligence is available exclusively on the Bloomberg Terminal and the Bloomberg Professional App. Visit us at https:\/\/www.bloomberg.com\/professional\/product\/bloomberg-intelligence\/<\/a> or request a demo.<\/p>\n

Disclaimer
\nThe data included in these materials are for illustrative purposes only. The BLOOMBERG TERMINAL service and Bloomberg data products (the \u201cServices\u201d) are owned and distributed by Bloomberg Finance L.P. (\u201cBFLP\u201d) except (i) in Argentina, Australia and certain jurisdictions in the Pacific Islands, Bermuda, China, India, Japan, Korea and New Zealand, where Bloomberg L.P. and its subsidiaries (\u201cBLP\u201d) distribute these products, and (ii) in Singapore and the jurisdictions serviced by Bloomberg\u2019s Singapore office, where a subsidiary of BFLP distributes these products. BLP provides BFLP and its subsidiaries with global marketing and operational support and service. Certain features, functions, products and services are available only to sophisticated investors and only where permitted. BFLP, BLP and their affiliates do not guarantee the accuracy of prices or other information in the Services. Nothing in the Services shall constitute or be construed as an offering of financial instruments by BFLP, BLP or their affiliates, or as investment advice or recommendations by BFLP, BLP or their affiliates of an investment strategy or whether or not to \u201cbuy\u201d, \u201csell\u201d or \u201chold\u201d an investment. Information available via the Services should not be considered as information sufficient upon which to base an investment decision. The following are trademarks and service marks of BFLP, a Delaware limited partnership, or its subsidiaries: BLOOMBERG, BLOOMBERG ANYWHERE, BLOOMBERG MARKETS, BLOOMBERG NEWS, BLOOMBERG PROFESSIONAL, BLOOMBERG TERMINAL and BLOOMBERG.COM. Absence of any trademark or service mark from this list does not waive Bloomberg\u2019s intellectual property rights in that name, mark or logo. All rights reserved. \u00a9 2023 Bloomberg.<\/p>\n

Bloomberg Intelligence is a service provided by Bloomberg Finance L.P. and its affiliates. Bloomberg Intelligence likewise shall not constitute, nor be construed as, investment advice or investment recommendations, or as information sufficient upon which to base an investment decision. The Bloomberg Intelligence function, and the information provided by Bloomberg Intelligence, is impersonal and is not based on the consideration of any customer’s individual circumstances. You should determine on your own whether you agree with Bloomberg Intelligence.<\/p>\n

Bloomberg Intelligence Credit and Company research is offered only in certain jurisdictions. Bloomberg Intelligence should not be construed as tax or accounting advice or as a service designed to facilitate any Bloomberg Intelligence subscriber’s compliance with its tax, accounting, or other legal obligations. Employees involved in Bloomberg Intelligence may hold positions in the securities analyzed or discussed on Bloomberg Intelligence.<\/p>\n\n<\/div>\n\n\n<\/div>\n\n\t\t\n\t<\/div>\n<\/div>\n

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