Amazon Continues to Boost Its Market Share

The standout winner in ecommerce of late is Amazon, where global sales have soared thanks to aggressive discount pricing and an ever-growing variety of merchandise categories. The gross value of merchandise sold through the company’s “Marketplace” partners is roughly equal to Amazon’s own sales. (Amazon records only the service fees it charges these Marketplace retailers, not the full price of the merchandise sold.) Amazon has become a market leader in vital merchandise categories including apparel and such consumer goods as health and beauty products. By 2022, Amazon accounted for over 40% of all U.S. ecommerce merchandise sales. (Another big winner is the Shopify platform that operates websites for smaller retailers.)

Amazon’s phenomenal growth is a result of excellent corporate strategy plus its competitive pricing and convenience. Shoppers don’t have to drive to a store, thereby saving on gasoline as well as time. Amazon has also diversified to an amazing extent, offering everything from jewelry to appliances to groceries to industrial and scientific supplies. Shipping can be expedited through the Amazon Prime program which, for a modest annual fee, offers unlimited free two-day shipping, the option to upgrade to one-day shipping for a few dollars and no minimum order size. Amazon had approximately 167.2 million Prime members in the U.S. alone as of 2023 (and more than 200 million globally), according to eMarketer, and those customers spend, on average, considerably more than non-Prime customers. Amazon Prime Now offers two-hour delivery for groceries and other household items in many major U.S. cities.

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