Will Amazon Take Up TOO MUCH of Our Life?
Staff Content Writer
August 17, 2021 • 1 minute read
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Amazon’s e-commerce sales have risen by $168.53 billion from 2019 to 2021, to reach an astonishing $386.40 billion by the end of 2021, according to a report released by eMarketer.While many retailers benefited from pandemic-driven e-commerce growth over the past 18 months, Amazon still retains its supremacy in the industry by earning more than $2 of every $5 spent on online shopping in the US in 2021. Its closest rival, Walmart, only accounts for 7.2% of the e-commerce market and isn’t able to hold a candle to Amazon.FIGURE 1Much of Amazon’s growth comes from Consumer electronics sales, which make up $94.40 billion of Amazon’s gross merchandise value (GMV) in 2020. While the sales of Books & Magazines only generates $11.86 billion of GMV, although not as high as the other categories, it pockets a staggering 80% of online sales in 2020 as per data from J.P. Morgan.FIGURE 2Though consumer behaviours may return to pre-pandemic levels, Amazon’s dominance will remain and its sales will continue to grow in the following years according to eMarketer. It estimates that by the end of 2022, Amazon will rack up $463.10 billion in US e-commerce sales.
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