In 2013, retail represented 27.0% of nominal US gross domestic product (GDP), up from 26.8% in 2012, comparing eMarketer figures against GDP figures from the US Department of Commerce. That share has been increasing consistently since a drop-off in 2009, when consumer confidence was at a low after the recession.
While brick-and-mortar sales still command a vast majority of the retail market—nearly $4.27 trillion in 2013—ecommerce sales are increasing much faster, contributing significantly to retail’s overall growth throughout our forecast period. eMarketer estimates that US retail ecommerce sales will increase 15.5% in 2014 to reach $304.1 billion, up from $263.3 billion in 2013. That growth will represent more than 20% of this year’s $199.4 billion increase in total retail sales. Read the rest at eMarketer.