With inflation levels expected to ease for the US economy during 2024, this is expected to further support eCommerce growth in the country, which is projected to reach a staggering $843.82 billion this year. Staying abreast of key trends and developments in the US’ rapidly changing online landscape is key to unlocking new opportunities for growth in the country.
In our latest whitepaper, the Global Payments Outlook 2024, we analyse the evolving behaviour of American consumers, uncovering their preferred payment methods for the forthcoming years and their emerging purchasing preferences, such as in-store pickup options and app-based ordering. Additionally, several key categories are driving eCommerce growth in the US, including clothing (43%), shoes (33%) and food and beverages (26%), according to Statista.
Our research shows that the US is a prime market for merchants looking to expand their cross-border eCommerce reach, with approximately 69.8 million cross-border shoppers. Alongside this, credit and debit cards remain the most popular payment method. However, the usage of eWallets is projected to grow significantly in the coming years in the US.
Our infographic uncovers how the payment landscape will evolve in the next few years, emphasising the importance of developing tailored payment strategies for the US eCommerce market. Download our infographic now to discover valuable insights for business expansion into the country’s prospering eCommerce market.