The Top 20 Fastest Growing Retail Sectors


December 14, 2023

Kentley Insights has compiled the top 20 fastest-growing retail industries. In 2023, many of the fastest-growing retail sectors in the U.S. continued to enjoy the post-pandemic spending spree but are facing headwinds entering 2024. Below are the 20 fastest-growing retail sectors based on their 5-year total revenue compound annual growth rate from 2018 to 2023.

No surprise that e-commerce and online auctions is at the top of the list. The pandemic gave a boost to retailers focused on the outdoors and recreation, and retailers focused on the home and backyard. All types of new and used motorized vehicles got a boost post-pandemic. It will be interesting to see how these retail industries perform over the next few years.

2024 will be a challenging year for the $30+ trillion global retail sector as retailers deal with pockets of stubborn inflation, a potential recession, waning demand, continued geopolitical issues. It's important to approach this year from a data-first perspective.


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