Quick Look! The Latest Trends in the US Market

According to the U.S. Census Bureau , spending in 16 major retail categories in the U.S. market increased from 2020 to 2021. Among them, apparel saw the highest increase of 47%. At the same time, items that people stockpiled during the epidemic , such as cooking supplies, sports equipment, and home repair tools, remain very popular.

Sales of many categories of goods in the United States have increased significantly

According to the NPD Group, 68% of consumers said they " placed a greater emphasis on health and wellness since the pandemic began ," leading Americans to increase spending on exercise equipment by 20% in 2021.

Americans also increased their time outdoors and spending more time playing sports, with Amazon data showing a 130% increase in demand for outdoor and camping products . Meanwhile , sales of sweatshirts and athleisure apparel increased again by 60% and 40% , respectively, building on significant growth in 2020 .

With about 45% of U.S. employees working from home at least part of the year, according to Gallup , many people are still beautifying their home spaces . Sales of home goods and furniture were up 15% year-over-year at the end of the holiday season , according to the National Retail Federation . Sales of home improvement and gardening supplies were also up 14%, according to the Census Bureau .

Amazon reported that many Americans are still cautious about entering public places, and they often choose to host gatherings for family and friends outdoors . This has led to a near doubling of sales of outdoor furniture and a 70% increase in sales of barbecue products .

As people go out more often, spending on cosmetics has also increased. According to Amazon, sales of toothpaste, teeth whiteners and mouthwash increased by 66%; sunscreen and tanning products increased by 70%; lipstick and curling iron sales increased by 58% and 30% , respectively .

Physical commodity spending to fall in 2022

Industry insiders said that growing supply chain problems and inflation could dampen consumers' enthusiasm and ability to spend.

It is understood that the personal savings rate in the United States has dropped from 33.8% in April 2020 to 7.9%, which is equivalent to the level before the epidemic , and two-thirds of American consumers believe that their budgets have been squeezed. This is due to the dual impact of reduced government subsidies and inflation .

Some experts predict that although overall consumer spending will rise in 2022 , the growth rate will decline . Due to the continued recovery of service spending such as flights, accommodation and dining out, the growth of commodity spending is expected to be more moderate. In turn, spending on major physical goods may decline in 2021 , and consumption and purchasing trends will return to normal levels before the epidemic .

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