The global e-commerce industry is expected to gross over $4.1 trillion in 2024, and nearly 30 per cent of that value will come from the United States, the world’s second-largest market for online sales.
The US e-commerce landscape is highly competitive, with numerous players vying for market share. Despite the fierce competition, Amazon is the absolute king of US e-commerce sales, leaving other players far behind.
According to data presented by AltIndex.com, Amazon generates the highest revenue in three out of four major product categories in the US e-commerce space, outperforming competitors by a large margin.
Amazon’s extensive product range, customer-centric approach and excellent delivery network have made it the go-to platform for online shopping in the United States, with the e-commerce giant significantly outpacing other competitors.
According to the latest data from ecommerceDB (ECDB), Amazon leads three out of four biggest product groups in online retail in its home market, leaving competitors far behind.
For instance, in the electronics segment, Amazon’s second-largest product category, the e-commerce giant, grossed $133.1 billion in 2023, or 2.5 times more than Apple and Walmart combined. The tech giant Apple generated $28.3 billion from sales in this e-commerce category, nearly four times less than Amazon, and Walmart followed with $24.8 billion.
Amazon’s advantage was similar in the hobby and leisure segment, where the e-commerce giant reported net revenue of $138.1, compared to Apple’s $25.5 billion and Chevy’s $11.7 billion. The difference was much smaller in the furniture and homeware segment, but Amazon still topped the group with $25.3 billion in total sales. In comparison, Walmart reported $16.3 billion in net revenue in this product category, twice more than the third-ranked Home Depot.
Statistics show that only in online fashion sales was domestic rival Walmart slightly ahead, while Chinese-based Shein followed behind. In two smaller categories, grocery and DIY, Walmart was ahead of Amazon, while Amazon topped in sales of care products.
Amazon’s dominance is further highlighted by the fact that it generates 26% of US online sales. This figure becomes even more impressive when knowing how much Americans spend yearly online shopping.
According to Statista Market Insights survey, for the first time in its history, the US e-commerce market grossed over one trillion dollars in 2023, 12% more than the year before. This figure is expected to grow by roughly 15%, with Americans spending over $1.2 trillion online shopping this year. By 2029, the total spending in the US e-commerce landscape will jump to over $1.8 trillion.
Statista expects over 273 million Americans to shop online in 2024, 14 million more than last year. By 2029, this figure will rise to over 333 million.
