53 Retail Statistics To Know for 2022 + Beyond
Recent retail statistics show a shifting industry that’s quick to adapt to consumer tastes and preferences. 2020 was a pivotal year for retail, giving the industry an opportunity to rebound lighting fast from an unforeseeable decline. More shoppers than ever before turned to online sources for basic necessities like .
For 2022 and beyond, many retailers are focusing on their digital presence. Convenience is a must for consumers who increasingly report having less time to shop, and a brand that doesn’t make itself available across multiple channels may see business suffer as a result.
To get the scoop on trends shaping the future of retail, read on for 53 retail statistics that cover online shopping, brick-and-mortar retail, employment patterns and much more.
Retail Industry Statistics
In 2022, the retail industry is expected to increase reliance on e-commerce and omnichannel efforts. Retail industry statistics indicate that the sector is growing at a rapid rate, despite recent shifts in consumer behavior.
U.S. retail sales grew by 6.7% in 2020, compared to an average of 4.4% over the previous five years. (National Retail Federation (NRF))
The top 10 global retailers post combined annual revenues of nearly $1.6 trillion. (NRF)
Total retail sales in the U.S. are expected to grow between 10% and 13% in 2021. (NRF)
Total worker wages in U.S. retail amount to $1 trillion. (NRF)
77% of consumers rate the retail industry as untrustworthy when it comes to their interests. (Deloitte)
Online Retail Sales Statistics
In the second quarter of 2020, consumption habits pushed online shopping to its largest ever share of total retail spending, at nearly 18%. Looking forward, shopping online and on mobile devices is sure to become more commonplace as Americans prioritize convenience and safety.
There are 2.1 million online retailers in the U.S. (etailinsights)
E-commerce retail grew by over 70% from 2018 through 2020. (NRF)
Online shopping represented 15% of total retail sales as of early 2021, up from 10% in 2019. (NRF)
M-commerce, or shopping on a mobile device, represents 73% of the total e-commerce market, up 39% from 2016. (Oberlo)
3 out of 4 consumers shop with a mobile device in order to save time. (Dynamic Yield)
Omnichannel shoppers (customers who shop both online and in stores) account for 17% of customers and 34% of total spending. (International Council of Shopping Centers)
Around 7 in 10 retail executives aren’t confident in the digital capabilities of their brand. (Deloitte)
Among retail leaders, 88% believe digital acceleration is their company’s top priority. (Deloitte)
Brick-and-Mortar Retail Statistics
While online shopping popularity is increasing, that doesn’t mean brick-and-mortar retail is dying. In fact, 75 cents of every retail dollar spent goes to a physical store. Retailers are using tactics like unexpected brand collaborations and experiential marketing to draw customers to their stores.
Data indicates that both tactics are working, so you’re likely to see more of your favorite brands experiment with fun in-store setups in the future.
At least 75% of all shopping is still done in physical stores. (Deloitte)
Around 90% of top-performing e-commerce retailers maintain a physical store presence. (NRF)
83% of all shoppers believe that stores should offer a flexible shopping experience, blending in-store and online shopping. (NRF)
More than 50% of retailers offer ship-from-store ordering options. (NRF)
At least 60% of retailers give consumers an option to buy online and pick up in-store. (NRF)
About 72% of shoppers report using a mobile device to assist their in-store experience. (PYMNTS)
Retailers on Upper Fifth Avenue in New York City pay upwards of $2,600 per square foot in monthly rent — three times as much as Rodeo Drive in Beverly Hills, the second most expensive commercial shopping destination in the U.S. (Real Estate Board of New York)
Gift Card Statistics
Everyone loves — for Americans, that’s not an exaggeration. Plastic gift cards, first introduced in 1994, are a way to show your support for a business while giving someone the chance to buy whatever they like. These gift card statistics show that this trend isn’t going anywhere in the near future.
Gift cards were the second most popular holiday gift in 2020, purchased by 49% of all shoppers. (NRF)
Americans ask for gift cards more often than any other gift — 59% asked for one in 2019. (NRF)
The average shopper spends around $160 — or 35% of their seasonal gifting budget — on gift cards during the holidays. (NRF)
Holiday gift card sales regularly account for around half of all annual gift card sales. (PYMNTS)
A study found that 74% of consumers regularly purchase gift cards from small businesses. (Fiserv)
In a survey, almost 80% of recipients would willingly visit a store to redeem a gift card valued at only 88 cents. (Fiserv)
Dallas-based retailer was the first to offer a plastic gift card. (Smithsonian Magazine)
Shopper Demographics and Preferences
While the shopping habits of men and women are more aligned now than in the past, there are still some distinct differences. For example, women are more likely to buy electronics in-person and apparel online. Consumer preferences also show an increased focus on convenience in the shopping experience that retailers are adapting to.
When shopping online, women are more likely than men to prioritize website security over scoring a good deal. (ClearSale)
Men collectively spent $11 billion more than women on in 2018. (Shullman Research Center)
66% of shoppers pay for the convenience of delivery services. (NRF)
1 in 10 customers lists convenience as the most important factor in a shopping experience, but 97% have backed out of an inconvenient buy. (NRF)
A recent survey indicated that nearly 9 in 10 shoppers prefer to use self-checkout options in stores. (Shekel Group)
In a survey, 78% of U.S. shoppers reported shopping at a store because they aligned with the retailer’s values. (Zeno Group)
While 94% of consumers believe a retailer’s mission and purpose is important to gain their business, 63% of consumers believe many companies lack a clear purpose. (Zeno Group)
Retail Foot Traffic Statistics
While 2020 saw a noticeable dip in foot traffic to nonessential businesses across the country, new data shows a pattern of shoppers returning to malls and other stores. In addition to experiential marketing and brand collaborations, retailers are using new approaches to omnichannel shopping to lure shoppers through their doors.
saw foot traffic from new customers top 2 million in 2020 thanks to an in-store package return program. (CNBC)
U.S. malls saw a 2% increase in monthly visits in July 2021 compared to the same period in 2019. (Placer.ai)
U.S. shopping malls’ average true trade area (the distance that consumers are willing to travel to visit a specific venue) was 159 square miles in June 2021. (Placer.ai)
Shoppers are willing to travel farther to visit King of Prussia Mall in Philadelphia than any other mall in the U.S. Its true trade area in June 2021 was over 502 square miles. (Placer.ai)
Retail Employment Statistics
Retail employment is a gateway to new opportunities for many Americans. Wages are increasing for most retail workers, while hours worked are slowly going up as well. This indicates that more Americans are able to afford basic necessities on a retail salary, though more retail workers live below the poverty level than the average across all industries.
Nearly 99% of retail employers are small businesses with fewer than 50 employees. (NRF)
There are more than 15 million retail employees in the U.S. as of 2021. (Bureau of Labor Statistics (BLS))
The retail industry supports more than 52 million jobs — a quarter of all jobs in the U.S. (NRF)
There are more than 17,000 employed personal shoppers in the U.S., and nearly 60% are women. (Zippia)
Approximately 5% of retail employees have union representation. (BLS)
Average hourly wages for all retail workers reached a new peak of $21.85 in May 2021. (BLS)
As of 2018, 10% of retail employees lived below the poverty level, compared to 6% of all U.S. workers. (United States Census Bureau (USCB))
More than half of retail employees are between the ages of 16 and 34. (USCB)
Benton County, AR, has the highest concentration of retail workers in the U.S. (Data USA)
The average salary for women in retail positions is $29,859 — compared to an average salary of $43,924 for men. (Data USA)
Retail Theft Statistics
Loss prevention is a hot topic among retailers. Despite decreased foot traffic, average shoplifting efforts increased by double-digit percentages in 2020, especially for essential retailers. These retail theft statistics show that retail shrink is still a serious problem.
Retail theft increased by nearly 22% from 2018 to 2019, totaling $61.7 billion in losses. (NRF)
Organized retail crime costs retailers an average of over $700,000 for every $1 billion in sales. (NRF)
In 2020, average shoplifting efforts grew 13% to $310 per case. (Hayes International)
Retail employee theft averaged $1,220 per case in 2020. (Hayes International)
Approximately 3% of all retail theft cases are recovered by loss prevention. (Hayes International)
The retail industry is strong and resilient, even in the face of drastic economic changes and rapidly shifting consumer preferences. Retailers are smarter about blending online and in-store offerings to cater to shoppers’ needs, which results in a better shopping experience for everyone.
Retail will continue to face new challenges, and the future of shopping will adapt to these changes in new ways. Whether you’re or just window shopping to pass the time, your time and attention are valuable commodities for retailers. The power of the purse continues to be strong.