The rate of inflation in the US remained high in 2023 by recent historical standards, but declined markedly from its 2022 peak. In 2024, US consumers are expected to see even more relief, as the rate of inflation continues to fall.
As recently as 2021, quick commerce seemed to be one of the most promising areas for e-commerce expansion in the US. Unlike third-party delivery services such as Instacart, quick commerce companies sell their own product inventories – typically focused on groceries and other household essentials – sourced from their own dark stores.
Although some of the most popular social media platforms in the US have stumbled slightly of late, TikTok has surged in popularity, and is expected to continue to expand its user base even further in 2024. The platform, which is owned and operated by Chinese tech giant ByteDance Ltd, focuses squarely on short-form video content – a format that has demonstrated tremendous appeal, especially with younger consumers.
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Retail E-Commerce
Online sales of new and used goods to the public from a business for personal or household consumption. This figure includes those purchases made via online marketplaces, assuming it is a business-to-consumer purchase. This figure includes the purchase of mobile apps, games, in-app purchases and downloaded versions of recorded music, film, video games, books, journals and magazines. Note: The streaming versions of these media types, which are not tracked in Retailing, are captured in Streaming Services E-Commerce. Goods purchased via quick-delivery services, such as Amazon Prime, are captured here, whereas the subscription fee for such a service is captured in Other E-Commerce. Retail purchases made via hyperlocal or third-party delivery platforms are also included here, while the delivery fees associated with such services are included in Other E-Commerce. This category excludes the following industries and channels: • Specialist retailers of motor vehicles; motorcycles, vehicle parts and fuel • The rental, hire and leasing of products • Wholesalers, cash and carry outlets • Consumer-to-consumer transactions • Informal retail which is not declared to tax authorities
See All of Our DefinitionsThis report originates from Passport, our Retail E-Commerce research and analysis database.
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