Retail Data

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Retail Data

The US GDP contracted by 2.3% in 2020 as a result of the COVID-19 pandemic. In 2021, the growth is projected at 3.5 percent. Further information regarding the impact of COVID-19 on retail, expected turn-around, and the acrylic displays market is presented below.

Anticipated Demand In The US Acrylic Displays Market (3yrs)

  • Market Reports World estimates that the global demand for acrylic displays will reach $5.270 billion in 2024.
  • North America accounts for about 45.78% of the worldwide demand for acrylic displays, representing roughly $2.41 billion by 2024 (45.78%*$5.270).

Impact On Retail Growth Post-COVID-19 (2yrs)

  • FTI Consulting's study projects that the total retail e-commerce sales in the United States will grow from $748 billion in 2020 to reach $1 trillion by 2023, as a direct result of the impact of COVID-19.
  • According to the study, the current U.S. e-commerce share of total retail sales is 19.2%. Therefore, the total retail (e-commerce and non-e-commerce) sales will reach approximately $5.2 trillion in 2023 — calculated as {(100%*$1 trillion)/19.2%}.

Expected Turn-Around Schedule

  • Deloitte recently interviewed 15 of their retail subject-matter specialists and 50 retail executives regarding the expected turn-around schedule for the retail segment in the United States post-covid-19. According to their findings, "six in 10 expect a recovery in the next one to two years—but a quarter sees a longer timeline of two to five years."
  • Fitch retail analysts estimate that most retail companies in the United States will return to their pre-pandemic sales levels by the end of 2021. However, weaker categories, such as cosmetics, apparel, jewelry, and accessories, will continue below pre-pandemic levels, "particularly as pandemic-related behavior is likely to sustain early in the year."

GDP Predictions (2020-2021)

Projected Changes in Retail Square Footage

  • Although research firms are predicting the changes in retail square footage in the US shortly, due to COVID-19, no reports are projecting beyond 2021. A Coresight Research report estimates that the US retail industry may see about 10,000 retail store closures by the end of 2021. The research firm also forecasts that "retailers will announce 4,000 store openings in 2021, driven by growth from grocery discounters and dollar store chains."
  • FTI study expects that many consumers, including those forced to use e-commerce channels for purchase due to COVID-19, will continue to do so through 2025. Therefore, retailers might not require much square footage moving forward.

Research Strategy

The research team searched through precompiled reports from authoritative market research databases and reliable news sites like Markets And Markets, PR Newswire, Transparency Market Research, Business Wire, Market Reports World, CNBC, and Deloitte, for the demand for acrylic displays in the United States. Although we found the global and North American demand for acrylic display, the US demand or metrics to calculate the same were not available. We proceeded to provide helpful insights related to the US acrylic displays market.
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