Online retail sales surpassed $1 trillion in 2022


January 31, 2023 | By RetailME Bureau

UAE e-commerce market to touch $9.2-bn by 2026

Online retail sales surpassed $1 trillion in 2022 for the first time in the US, indicating a 21% increase in spend year-over-year (YoY). Mobile commerce accounted for 40% of online retail spend.

“At the beginning of the pandemic in 2020, digital commerce was at $705.4 billion. A year later, it hit $904.3 billion, and this year we’re over $1 trillion. That level of growth previously took four years to achieve. Consumers are clearly doubling down on what works best for them – seamless, convenient, online purchasing across many different verticals and product types,” said Ian Essling, Senior Director of Survey Insights, Comscore.

With the fourth quarter of 2022 being the biggest spending quarter of the year online retail spending during the holiday season (November & December 2022) broke $230 billion and grew by 20% YoY. Online grocery and apparel were the top spending categories with $219 billion spent on ‘Grocery, Baby, Pet’ items, $175 billion on ‘Apparel and Accessories’ and $117 billion on ‘Computers and Peripherals’. The top growing digital commerce categories YoY were ‘Event Tickets’ (75%), ‘Digital Content’ (60%) and ‘Apparel and Accessories’ (37%).

Previous Article Next Article

SHARE

YOU MAY ALSO LIKE /


Naresh Kumar Bhawnani, Founder & Chairman, West Zone Group

“Retail is a people’s business. When building a retail brand or the 

Continue Reading

October 3, 2024 | By RetailME Bureau
Sunil Kumar, CEO, Spinneys

From being one of the first retailers in Dubai to ban single-use 

Continue Reading

October 1, 2024 | By RetailME Bureau
Walid Shabana, Co-founder & CTO, Rabbit

For starters, Rabbit is a growing e-commerce grocery platform in Egypt always 

Continue Reading

September 30, 2024 | By RetailME Bureau
Arunachalam Palaniappan, CTO, Choithrams

In 2024 grocery retail major Choithrams has achieved several milestones underscoring its 

Continue Reading

September 12, 2024 | By RetailME Bureau
#Topshelftalks session at Food Business Forum 2024

Industry pioneers are embracing a comprehensive strategy that integrates consumer insights, digital 

Continue Reading

July 3, 2024 | By Anurima Das
#EdgeOfTomorrow session at Food Business Forum 2024

The regional grocery retail market is evolving fast keeping pace with constantly 

Continue Reading

July 3, 2024 | By Rupkatha B
#CartToCouch session at Food Business Forum 2024

If anything, the Middle East market is excited about quick commerce – 

Continue Reading

July 2, 2024 | By Rupkatha B
#EcoEchoes session at Food Business Forum 2024

From ethical and local sourcing to adopting cutting-edge technologies to curb food 

Continue Reading

July 2, 2024 | By Rupkatha B
#ByteSizedBreakthroughs session at Food Business Forum 2024

The regional grocery retail market is becoming more and more diverse, offering 

Continue Reading

July 2, 2024 | By Rupkatha B

Spinneys, the leading premium fresh food retailer, has announced the opening of 

Continue Reading

June 24, 2024 | By RetailME Bureau

Spinneys has announced the launch of The Kitchen by Spinneys, its first-ever 

Continue Reading

May 20, 2024 | By RetailME Bureau

In a move set to redefine the landscape of the Fast Moving 

Continue Reading

May 16, 2024 | By RetailME Bureau




Download Images RetailME Magazine