Amazon close to catching Walmart in US sales

By EcommerceFOXBusiness

Declining retail sales a ‘warning shot for Wall Street’

Macromavens President Stephanie Pomboy explains why declining retail signs could spell trouble for Wall Street.

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.

Continue Reading Below

AMZNAMAZON.COM INC.1,805.60-17.94-0.98%
WMTWALMART INC.111.91-0.11-0.10%

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.

More from FOX Business

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.