Target Breaks Into The Top 10 List Of U.S. E-Commerce Retailers
Target’s investments in store remodels, same-day delivery and drive-up services are paying off. The retailer, which used to rank No. 11 in U.S. e-commerce sales, is now forecast to jump three spots to break into the top 10 list as the No. 8 retailer, according to a new report from analyst firm eMarketer. This puts Target ahead of declining businesses QVC and Qurate Retail Group (HSN’s owner), as well as No. 9 Costco and No. 10 Macy’s, the new forecast says. The firm estimates Target’s e-commerce business will grow 24% in 2020 to reach $8.34 billion, allowing it to crack the top 10 list. However, Target’s overall share of the U.S. e-commerce market remains small in the shadow of Amazon’s dominance. Amazon will claim a 38.7% share of the market this year, versus Target’s 1.2%. Even Amazon’s next nearest competitor Walmart is far behind, with just a 5.3% share. Read more at TechCrunch.
