Amazon close to catching Walmart in US sales

Amazon may be considerably behind Walmart when it comes to U.S. sales, but the e-commerce behemoth’s rapid pace of growth means that the company will be on par with Walmart in terms of domestic sales by 2020-2021, according to a JPMorgan Chase analyst.

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TickerSecurityLastChangeChange %
AMZNAMAZON.COM INC.3,204.40+28.00+0.88%
WMTWALMART INC.143.85+0.30+0.21%

In 2017, Walmart had U.S. sales of $318.5 billion, up 3.5% year-over-year, whereas Amazon reported $186 billion in U.S. gross merchandise volume last year, up 31% year-over-year.

Amazon’s growth will come from, “the prime ecosystem; endless aisle driven by third-party seller expansion; outsized growth in large, unpenetrated categories, and removing friction and moving closer to customers.”

Walmart declined to comment to FOX Business about its growth.