How much did e-commerce grow in 2021?

14 Jul 2022 By PAYCEC

According to Statista , e-commerce in the United States will reach $469.2 billion in 2021, up from $431.6 billion in 2020.

The share of e-commerce in total U.S. retail sales in the fourth quarter of 2021 was 12.9 percent, down from 13.6 percent in the same quarter the previous year.

Additional information: Consumption trends of the young generation

According to Morgan Stanley's AlphaWise survey, retailers and clothing companies that focus on value are well-positioned. "While trends are less relevant to Gen Z, value is still a major factor in purchase decisions. According to the AlphaWise study, only 21% of Gen Z customers consider fashion trends to be extremely or somewhat essential, compared to 34% of Gen Y "soft lines retail research (clothing, footwear, and linens) director Kimberly Greenberger adds, "the survey findings." Also noteworthy is the fact that almost half of Gen Z respondents are more likely to choose the cheapest product over the branded one—a finding that is similar to previous studies "The Millennial Generation."

America’s youth spent an imbalanced share of wallets on consumption in 2017