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  • 69 Important Retail Statistics: 2020 Data Analysis & Market Share

69 Important Retail Statistics: 2020 Data Analysis & Market Share

Category: B2B News

Online stores and all things ecommerce have proven to be such disruptive forces in the global economy, sweeping all before them but the most robust businesses. Many have already seen the writing on the wall, but many have yet to follow suit. Businesses big and small have to look hard at the retail statistics if they want to steer their companies to this drastically altered world of commerce.

We’ve compiled here important research findings on retail across a wide range of factors, from global and US sales to the latest ecommerce penetration data, to the impact of mobile, to the role of new technologies such as inventory management software, and much more.

key retail statistics

1. Global Retail Market Statistics

The journey to mastering the new rule of doing business must start by using retail reports that are widely available from diverse sources. From the resulting retail reports, we can see how the retail market size reflects the tide of changes now taking over economies all over the world. From this retail data, it’s easy to see that global retail is still growing, led by the Chinese economy behemoth and its ecommerce push everywhere.

The growth of retail and ecommerce relies on the applications that allow them to manage vast amounts of data that change every day. These data follow the movement of goods and people. SaaS applications play a critical role, and they’re also part of the global economic disruption taking place before us.

  • Total global retail sales is projected to reach $26.29 trillion in 2019 and $27.73 trillion by 2020. [1]
  • 4% – The CAGR of global retail sales from 2013-2018 [2]
  • The total value of ecommerce sales is projected to reach $3.45 trillion in 2019. [3]
  • 15.5% – The CAGR of ecommerce from 2013-2018. [2]
  • China is the largest ecommerce market in the world. [3]
  • 95% of all purchases are projected to be done via ecommerce. [3]
  • There are 12 to 24 million ecommerce sites in the world. [3]
  • Building supplies and distribution centers are the most profitable industries by a 5% net margin. [4]

Source: Statista

2. US Retail Market Statistics

US retail sales continue to rise despite the closure of many big-name companies. The fall of these familiar brands is mitigated by new ventures emerging from laboratories and conceptual nurseries. They are more adept at modern tools, too. The young ones are no stranger to advanced business tools, CRM systems amongst them.

  • Total US retail sales was valued at $5.7 trillion in 2017 [5]
  • 3.4% – The CAGR of US retail sales [6]
  • 4.3% – Year-on-year sales growth of US retail sales. [6]
  • 11.9% – the growth of US online retail since last year [6]
  • Amazon accounts for 49% of online spending in the US, representing about 5% of total US retail sales. [7]
  • For every $100 spent on a local small business, around $68 stays in town. [8]
  • $53.98 – average retail transaction value [9]
  • 50.96% – average gross margin in retail [9]
  • 300% – the growth of US online retail from 2000-2018 [6]
  • 50% – the decline of department stores from 2000-2018 [6]
  • 5.9% – the decline of US department stores since last year [6]
  • 20% – of US annual retail sales are from the holiday season [6]

Gloom and doom for big traditional retailers

While injecting much-needed life into the global economy, the surge of online stores has resulted in the death of many known brands. Toys R Us and many more are fair game for these new kids on the block.

  • 5,994 US stores already closed in 2019 alone [10]
  • 5,864 US stores closed in 2018 [10]
  • Payless, Gymboree, and Charlotte Russe head the big-name retailers that were hardest hit. [10]

growth rate of US online retail

3. Big and Small Retailers Statistics

Small retailers pick up from the slack of big retailers. Armed with business intelligence tools, they dive into businesses with savviness unavailable to their enterprising predecessors. With a better understanding of their markets, they are able to avoid many of the pitfalls that litter the modern world.

  • Amazon, Apple, Google, Microsoft, and Visa are the top brands in 2019 [11]
  • 52.8% of American consumers visit Walmart in any given month. [12]
  • Walmart has 11,766 stores as of 2019 [13]
  • Small retailers with 50 employees or less represent 98.6% of all retail firms. [14]
  • Furniture with $40,000 in average revenue heads small retailers by industry, followed by beer, wine, and spirits ($39,000). [14]
  • 65% of retailers plan to invest in new products. [15]
  • 61% of retailers plan to invest in their store associates. [15]
  • Small retailers hire 39.8% of all retail employees. [14]
  • Small retailers have an average monthly revenue of $22,341. [14]
  • Small retailers have an average gross margin of 51%. [14]
  • US SMBs process about 482 transactions per month. [9]

However, big or small retail businesses today manage both frontend and backend processes using digital tools such as solutions for inventory management. These keep inventory lists and item statuses in one place. Some platforms also integrate with other front-end systems for sales and marketing.

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Top 5 Most Valuable Brands in 2019

(in billion US dollars)

Top 5 Most Valuable Brands in 2019
Amazon: billion

Amazon

billion
Top 5 Most Valuable Brands in 2019
Apple: billion

Apple

billion
Top 5 Most Valuable Brands in 2019
Google: billion

Google

billion
Top 5 Most Valuable Brands in 2019
Microsoft: billion

Microsoft

billion
Top 5 Most Valuable Brands in 2019
Visa: billion

Visa

billion

Source: BrandZ, Kantar Millward Brown

Designed by

Leading Inventory Management Software

  1. NetSuite ERP. This platform gives you complete visibility over your supply chain from inventory to other financial information. Learn about how this can help you optimize both frontend and backend processes in our NetSuite ERP review here.
  2. Vend. This POS software for PC, Mac, and iPad is fitted with a robust inventory platform. Learn how you can leverage this and its other features in this Vend review.
  3. Zoho Inventory. This is a go-to inventory program for both small and big retailers. Read how it can help you track inventory and orders easily in our Zoho Inventory review.
  4. QuickBooks Enterprise. This total business solution from QuickBooks sports an inventory management module that can rival standalone platforms. Read our QuickBooks Enterprise review for a more detailed look at the software.
  5. TradeGecko. This is a popular inventory management system thanks to its clean UI and powerful web-based deployment. Learn more about core program features here in our dedicated TradeGecko review.

4. Customer Retail Preferences Statistics

Customers still prefer physical stores[16], spending a hefty portion of their incomes on these stores. They enjoy events organized by the stores. They attend these events and bring their money along the way. And they go where the bargain offers are.

  • Customers spend 69% of their discretionary income each month in-store. [14]
  • Customers say trying items in a store is 3x more influential than other purchase factors. [14]
  • 89% of consumers shop at bargain-driven retailers. [17]
  • 54% believe they need to focus on customer experience. [18]
  • 87% of customers say they would attend exclusive access to items or sale in physical stores. [14]
  • 81% of customers say they would attend parties organized by physical stores. [14]
  • 80% of customers say they would attend a product demonstration or tutorial by physical stores. [14]
  • 71% of customers say they would attend a game or competition organized by physical stores. [14]
  • 82% of shoppers attended a retail event last year. [14]
  • 58% are interested in going to one in the future. [14]

Stores are only too happy to oblige with this customer participation for events made for them. Businesses can do more with the help of the leading event management software that they can easily find in the market.

How generations shop

  • 31.9% of Baby Boomers prefer buying in a physical store, compared to Millennials at 31.04%, Gen X at 27.5%. Only 9.6% of Gen Z, on the other hand, prefer buying from physical stores. [7]
  • 67% of Millennials and 56% of Gen Xers consumers prefer to shop online [7]
  • 55% of online shoppers would prefer to buy from retailers that have a physical store presence vs. online only. [14]
  • 56% – number of Gen Z consumers who purchased from a physical store in the last 6 months. [7]

shoppers attending a retail event

5. Ecommerce Statistics

While ecommerce statistics merit a separate page of its own, we highlight key figures that you can easily associate with retail developments. The numbers reflect the growing acceptance of consumers who not long ago were opposed to the idea of sending private financial information floating all over the internet.

The latest shopping statistics also help in understanding what’s going on with global economies. If you want to navigate your business ahead, you will do well to look up these figures too.

  • Ecommerce only comprises 9.46% of retail sales. [14]
  • 96% of Americans have made an online purchase. [7]
  • 90% of Americans shop online at least yearly. [18]
  • 51% of Americans prefer to shop online. [7]
  • Around 20% of buyers who return an online purchase in-store make an additional purchase. [19]

Social media in ecommerce

Facebook, Twitter, Instagram, Snapchat, Linkedin, and YouTube have helped ecommerce become the colossal economic force that it is now. What initially started as sites where friends and families gather have become a melting pot for businesses, consumers, and professionals. These last include market and sale influencers, among many others. Their tool of choice: social media management software.

  • 85% of orders from social media channels originate from Facebook [20]
  • 84% of US online buyers review at least one social media platform before buying [21]
  • 30% of online purchasers are likely to buy from Facebook, Twitter, or Snapchat. [7]
  • 39% of Americans share their experiences from vendors on social media platforms. [21]
  • 30% of online customers have posted feedback online. [18]
  • $55 – the average order value for customers referred from Facebook [20]
  • $46.29 – the average order value for customers referred from Twitter. [20]
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Where did consumers buy in the last 6 months?

July 2019 Survey, Big Commerce

Where did consumers buy in the last 6 months?
Amazon: %

Amazon

%
Where did consumers buy in the last 6 months?
Physical Store: %

Physical Store

%
Where did consumers buy in the last 6 months?
Branded Online Store: %

Branded Online Store

%
Where did consumers buy in the last 6 months?
eBay: %

eBay

%
Where did consumers buy in the last 6 months?
Facebook: %

Facebook

%

Source: Big Commerce

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6. Mobile Retail Statistics

As with social media, mobile devices have played a key role in ushering a new age for retail businesses all over the world. What once served as a simple communication device now serves as an internet hub anywhere, anytime. With GPS technologies and incorporating payment gateway platforms, they have become indispensable to businesses and consumers alike.

  • 59% of all sessions on ecommerce sites are done via mobile sessions. [22]
  • Gen Z shoppers are twice as likely to complete an online purchase using a mobile wallet like Apple Pay than the average consumer. [7]
  • 48% of consumers start mobile research with a search engine. [22]
  • 33% of consumers go directly to the site they want. [22]
  • 79% of smartphone users have made an online purchase using a mobile device in the last six months. [23]
  • 88% of consumers who search for a type of local business on a mobile device call or go to that business within 24 hours. [24]
  • 12%  of Americans have paid for in-store purchases by swiping or scanning their cellphones at the register. [21]
  • Mobile offers are redeemed 10x more frequently than print offers. [25]

sessions on ecommerce sites

Leverage These Business Retail Numbers to Help Your Business

The astounding fall of even the biggest names in commerce means that businesses must learn what works for the modern economy. Commercial titans have a lot going against them in a sense, in that it’s harder to implement critical changes right away. You can address issues in one branch, but there could be hundreds more spread elsewhere across the globe.

Small businesses benefit from the simplicity of their operations. If they learn the lessons of their more prominent contemporaries, then they should be safe, steering their businesses to further growth.

You will not find a bigger help in today’s business landscape than the one provided by business intelligence software. It’s the reason other software solutions are incorporating some of their features too.

 


References:

  1. ^Total retail sales worldwide from 2017 to 2023
  2. ^CAGR of retail sales channels worldwide 2013-2018, by channel
  3. ^Ecommerce Statistics
  4. ^What Is a Good Profit Margin for Retailers?
  5. ^QUARTERLY RETAIL E-COMMERCE SALES
  6. ^U.S. Retail Sales Report, Current Statistics, and Recent Trends
  7. ^Evolving Ecommerce: 14 Trends Driving Online Retail In 2020
  8. ^Key Studies: Why Local Matters
  9. ^Retail Data 2018: 30 Retailer Statistics You Need to Know
  10. ^What Retail Recovery? Malls Under Pressure as Stores Close
  11. ^100 Most Valuable Global Brands 2019
  12. ^The most popular stores in America
  13. ^Total number of Walmart stores worldwide from 2008 to 2020
  14. ^Infographic: Small Retailers Can Compete and Win
  15. ^State of Retailing Online
  16. ^85% of Consumers Prefer to Shop at Physical Stores vs. Online
  17. ^The Future of Retail: Trends for 2019
  18. ^50 Statistics About Retail Marketing and Consumer Shopping Trends
  19. ^THE FUTURE OF RETAIL IN THE ERA OF URBANIZATION
  20. ^Social Commerce For Retail: What Is It and 3 Examples of Retailers Doing it Well
  21. ^Online Shopping and E-Commerce
  22. ^38 Indispensable E-commerce stats to inform your 2017 multichannel sales strategy
  23. ^Mobile eCommerce Statistics & Shopping Stats
  24. ^Mobile Trends & Statistics That’ll Change Your Whole Marketing Strategy
  25. ^Mobile Spurs Digital Coupon User Growth

 

Nestor Gilbert

By Nestor Gilbert

Senior writer for FinancesOnline. If he is not writing about the booming SaaS and B2B industry, with special focus on developments in CRM and business intelligence software spaces, he is editing manuscripts for aspiring and veteran authors. He has compiled years of experience editing book titles and writing for popular marketing and technical publications.

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