Amazon’s U.S. Sales To Match Walmart’s Within Three Years
Amazon’s e-commerce empire is on track to match Walmart sales domestically within the next two to three years, according to J.P. Morgan. According to the bank’s analysis, Amazon’s U.S. gross merchandise volume (GMV) — a key industry metric measuring total dollar value of merchandise sold online — is set to match Walmart’s net U.S. sales by 2020 or 2021. “Amazon is the second-largest U.S. retailer and fastest growing at scale,” analyst Christopher Horvers wrote Monday. “We believe key drivers of Amazon’s share gains include: the Prime ecosystem; endless aisle driven by third-party seller expansion; outsized growth in large, under-penetrated categories; and removing friction and moving closer to customers.” Though Walmart remains king of sales with $495.8 billion in annual revenue and U.S. sales of $318.5 billion (a 3.5 percent increase year over year) for the fiscal year ended in January, Amazon is growing at a faster pace in the United States. Read more at CNBC.
