As Amazon (NASDAQ:AMZN) prepares for its annual Prime Day megasale, its reign as the biggest online retailer in the country is eye-popping: It’s projected to be raking in more than 40% of the nation’s e-commerce sales by the end of 2021.
Amazon’s dominance on the internet has only grown as shopping online becomes second nature for many consumers. That’s exactly what has transpired over the past 13 years.
In 2008, e-commerce sales accounted for just 3.6% of total retail sales in the United States, according to data from eMarketer. Following gradual growth year after year, that figure skyrocketed to 14% in 2020, as the Covid pandemic fueled online spending on everything from groceries and toilet paper to spin bikes and workout clothes. E-commerce sales are predicted to account for 15.3% of total retail sales by the end of this year and jump to 23.5% by 2025, eMarketer said.
Falling second to Amazon and far behind, big-box chain Walmart (NYSE:WMT) is predicted to take about 7% of the digital retail market this year. The two are followed by eBay (NASDAQ:EBAY), Apple (NASDAQ:AAPL), Home Depot (NYSE:HD), Target (NYSE:TGT) and Best Buy (NYSE:BBY), according to eMarketer.
Walmart and Target are holding competing deals events — as they have in past years — to coincide with Amazon Prime Day 2021. Both discounters will start sales on Sunday, but Walmart’s offers extend through Wednesday, while Target and Amazon end on Tuesday. Both Walmart and Target hope to reach customers who are already browsing the web on Prime Day for summer discounts.
AMZN shares skidded $3.10 to $3,486.14
