News & Views

Amazon becoming the worst nightmare for retailers

The new data and analysis shows the fact that retailers should increasingly be scared of Amazon dominating e-commerce.

When consumers are ready to buy a specific product, nearly 74 percent, are going straight to Amazon to do it, according to a study by Feed-visor, which helps brands grow on e-commerce marketplaces. The group studied the shopping behaviors of more than 2,000 consumers in the U.S. who have bought something on Amazon within the past two years.

Amazon remains a threat for some of the biggest retailers in the country like Walmart, Target and Macy’s that are trying to grow their businesses online. Shoppers are getting more comfortable with buying things from their smartphones, than to visit mall. By the end of this year, Amazon is expected to account for 52.4 percent of the e-commerce market in the U.S., up from 48 percent in 2018, according to data from e-Marketer.

Key to Amazon’s success is its loyal base of paying Prime members, which surpassed more than 100 million people last year.

Consumer loyalty to Amazon is at an “all-time high,” with 48 percent of people visiting Amazon at least a few times a week, and 89 percent of people visiting Amazon at least once a month. Unfortunately for its rivals, “Amazon has deeply integrated itself into consumers’ daily lives,” the group said.

As Amazon expands more into bricks-and-mortar retail, now, analysts expect its threat will grow even larger.

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