E-marketer is out with its annual projections of US e-commerce market shares, and Amazon retains its overwhelming leadership position at 38.7 percent. Walmart is second at 5.3 percent.
The analysis points to the fact that "Target’s increased focus on building its ecommerce business" seems to be working. Last year, Target didn't even make the top 10 (it was #11), but this year it has jumped to the eighth spot, with 1.2 percent of e-commerce business. E-marketer writes that "this year, Target’s ecommerce business will jump 24.0% to $8.34 billion. That means its share of the total US ecommerce market will grow to 1.2%, up from 1.1% in 2019." This moves Target past both Costco and Macy's in e-commerce market share over the past year.
The balance of the top 10 include eBay at #3 with a 4.7 percent market share, followed by Apple with 3.7 percent, Home Depot with 1.7 percent, Wayfair with 1.5 percent, and Best Buy with 1.3 percent. Following Target there is Costco at 1.2 percent, and Macy's at 1.1 percent.
Both e-Bay and Apple saw their shares drop slightly, while "Amazon’s share will grow to 38.7%, up from 37.3% in 2019. This year, Amazon will capture 4.6% of total retail sales (online and offline) in the US."
- KC's View:
I would always argue that Amazon sees robust competition - like direct competitors such as Walmart and Target seeing their e-commerce market shares increasing - as an overall positive, because it creates the kind of argument that can quell some concerns about its growing power. Of course, Amazon's market share also is growing, and Amazon's power is only party about its e-commerce business.
Anyone want to bet the over-under on when Amazon will have 10 percent of total US retail sales?