We’re always talking about how big Amazon is, how it’s such a success story – but just how well are they actually doing?
Here’s a couple of ‘Amazon’ facts to think about:
1. They sold 6 times more online than the next 8 largest US retailers combined.
Amazon sold around US$59B worth of product in it’s second quarter this year. In comparison, the next 8 retailers – Walmart, Target, Best Buy, Nordstrom, Home Depot, Macy’s, Kohls and Costco – sold around US$10B online during the same period – combined.
2. Amazon generated 30% of the US’ retail sales growth.
Data from the US Department of Commerce suggests that retail sales grew $31.5B year-on-year in Q2 ’16. If you take into account that Amazon’s North American sales are estimated to have grown by $9.1B year-on-year over the same period, that means that they basically drove 30% of the total US retail growth. That’s crazy!
3. Finally, their (online) sales growth was 10 times higher than the next 8 US retailers combined.
Amazon’s sales increased by $14B year-on-year (globally) in Q2’16. If you compare that again to the same 8 retailers in point 1, who’s online sales grew by $1.3B during the same period. That means that Amazon was growing 10x that of all the 8 combined.
Anyway – so the hype is real!