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.”