The numbers are in—total US retail sales totaled more than $4.5 trillion in 2013. The growth over the past year is largely attributed to e-commerce sales, which accounted for $40 billion out of the above amount. Although that seems like a relatively small piece of the pie, e-commerce sales actually rose by 17% in 2013, leading experts to believe that $4.5 trillion number will continue to grow in 2014.
What is Causing US Retail Sales to Grow?
While the majority of that $4.5 trillion came from in-store purchases, there are a number of other factors that are contributing to the rise in US retail sales. E-Commerce continues to be a rising star in the American retail market, with 5.8% of retail purchases happening online. 5.8% is not a lot by any means, however, experts are predicting that number could double next year.
Mobile commerce growth also contributed to the spike in retail sales. Products purchased on mobile devices—or m-commerce—increased by an astonishing 70% in 2013 to reach $42.13 billion. By the end of 2014, this number will have risen to $57 billion, accounting for one-fifth of all e-commerce purchases.
What Does this All Mean?
For merchants, this is nothing but good news. With skyrocketing US retail sales stimulating the economy, more businesses are starting up, which means more jobs, and more money in consumer pockets. For US retail businesses, the time is right to go online and enter the e-commerce market. With American e-commerce on the rise, US businesses can take advantage of avid online shoppers to sell more products. With more shoppers coming into your retail storefront as well, the combination could result in skyrocketing profits for you.
Take Advantage of Rising US Retail Sales with Instabill
Instabill is a merchant services provider in the United States dedicated to providing the very best credit card processing solutions to merchants worldwide. With our US, you can find perfect in-store credit card processing software and POS systems for your business. Couple that with one of our online merchant accounts, and your customers can enjoy purchasing products from you online or on-the-go. To learn more about Instabill’s merchant services, or to apply for one of our merchant accounts, contact us today at 1-800-530-2444.