Fastest-Growing Consumer Products in the US
One of the best ways to detect and leverage ecommerce trends is to look at data on the fastest-growing consumer products to know which niches have the highest potential to perform.
According to a recent study analyzing the fastest-growing consumer products, products in the food and beverage are set to experience the biggest surge in online sales in 2023.
Total retail ecommerce sales from these products are set to grow by 24.3% in 2023. In fact, they’re projected to be the fastest-growing consumer products in the US every year from 2023 to at least 2026, highlighting a strong growth potential for online businesses operating in this sector.
The second-fastest-growing ecommerce category is health, personal care, and beauty, with an expected year-over-year sales increase of 18.4% this year. These products are also expected to be the second fastest-growing consumer products in the US in the next three years, with total sales set to rise by over 10% per annum.
Office equipment and supplies is the third-fastest-growing consumer products category, with online sales expected to rise 9.7% year over year in 2023. This is followed by products related to apparel and accessories, whose total retail ecommerce sales are projected to increase by 8.5%.
Rounding out the five fastest-growing ecommerce categories of 2023 is auto and parts. Sales in this category are expected to increase by 8% this year.
The impressive growths from the food and beverage and auto and parts categories, in particular, set new precedence, as products from these two categories have traditionally been brick-and-mortar purchases. Experts attribute the increase in digital sales of these items to the pandemic, which they say has altered online shopping behavior among consumers in the long run.
Sixth on the list of the fastest-growing consumer products are items related to computer and consumer electronics. Sales from this category are projected to grow by 7.9% in 2023.
This is followed by books, music, and audio, whose total online sales are forecast to rise by 6.4%. The toys and hobby category ranks next, with an expected growth rate of 5.9%. Furniture and home furnishings products wrap up the list of the fastest-growing consumer products in the US. Experts say overall online sales from these items are to increase by 5.1% this year.
