This ad will be closed automatically in X seconds.

Amazon to account for 5% of global retail

Prediction made as online retailer hits trillion-dollar market valuation.

Analysts are predicting that Amazon will account for 5% of global retail in the near future.

The predictions come as the online retailer became only the second company after Apple to hit the trillion-dollar market valuation milestone on Wednesday.

According to the research firm eMarketer, Amazon’s e-commerce revenue will grow more than 28% this year to reach $394 billion, and will account for 49% of US online retail sales and nearly 5% of all retail spending.

Michael Pachter, analyst at financial services company Wedbush Securities, was quoted on Retail Sector as saying he estimated Amazon to be at “about 1.5% market capitalisation and I believe it could go up to 5%”.

Neil Saunders, managing director of GlobalData Retail, said: “To reach a market capitalisation of over $1trn is impressive. To do it in a little over 24 years is extraordinary.

“That Amazon has achieved this demonstrates its dramatic advancement in both the retail and technology sectors, as well as the influence it now wields over large parts of the consumer landscape.”

Want to read more news like this? Simply sign up to our daily digest in the box below. You can also follow @LicensingSource on Twitter.

MORE NEWS
CPearceTesco500x500
 
Harry Potter, Friends, Barbie, Frozen and personalisation highlighted as key brands and trends....
Panini2020500x500
 
Football 2020 will be backed by a multi-faceted marketing campaign....
MCBirds500x500
 
New gift and home range will be launching at Spring Fair in February 2020....
VetementsSW500x500
 
Fashion brand to unveil 44-piece collection ahead of The Rise of Skywalker arrival....
HelenePJ500x500
 
Hélène El Arouni joins media group's French office....
PatrickParty500x500
 
Popular licensing executive bids farewell after 30 years in the trade....
Get the latest news sent to your inbox
Subscribe to our daily newsletter