Retail Sales in the United States

Update as of May 29, 2024

In 2023, retail sales in the United States reached $7,242 billion. They were $3,600 billion for the first six months of 2023, while in 2022 they were $7,095 billion. U.S. retail sales in 2023 thus mark a 2% increase compared to the previous year.

In April 2024, retail sales in the American market were $705 billion, with a 3% increase compared to the same month in 2022.  Total sales for the period from February 2024 to April 2024 increased by 3.0% compared to the same period a year ago. However, the percentage change from February 2024 to March 2024 was revised from a 0.7% increase to a 0.6% increase

Update as of October 13, 2023

Retail sales in America have consistently grown over the past ten years: from $4,200 billion in 2012 to $7,100 in 2022, the market has recorded a 65.2% increase in just one decade, despite the setback due to the COVID-19 pandemic. [Source: Bureau of Labor Statistics, US Census Bureau]

Considering that the country is home to some of the world's largest retail companies (Walmart, Amazon, and Costco, to name a few), the United States represents the ideal target for offering your products.

How much does an American consumer spend annually?

According to the latest statistics, in 2022, the average annual spending of an American reached $72,967: more than $6,000 per month, against an average monthly income of $7,833.

This represents a 9% increase compared to the previous year.

What are the main spending categories in the USA?

The top expense for Americans is related to housing: rent, mortgage payments, and out-of-town hotels account for 33% of the total. Following this, transportation accounts for 17% and includes vehicle purchases, fuel, public transportation, and other maintenance services. In third place is food (12%).

Despite the three mentioned categories being necessities related to survival, Americans also invest their financial resources in non-essential expenses.

For example, it is interesting to note that spending on dining out increased by 20% compared to 2021, while spending on clothing increased by 11%. Spending on entertainment activities also grew by 27%, highlighting Americans' desire not only to meet basic needs but also to allocate resources for fun and time outside their daily routines, often preferring intangible services over physical products.

The American market remains a fertile ground for Italian companies looking to offer their products or services across a wide variety of categories