Amazon, the online retailing giant founded by Jeff Bezos, is fast approaching capturing 50 percent of the U.S. e-commerce market, according to data research firm eMarketer.
The company is forecast to hit sales of $258.2 billion by the end of 2018, a roughly 30 percent increase from the previous year. Amazon captured approximately 44 percent of the e-commerce market in 2017. The online retailing giant’s market share dwarfs eBay’s, which currently has around 6.6 percent of all U.S. e-commerce sales. The third is Apple with 3.9 percent and Walmart in fourth places, capturing 3.7 percent of the market.
“Also striking is the fact that Amazon’s marketplace is exploding — the marketplace refers to transactions that take place via third-party sellers, instead of a shopper buying one of Amazon’s in-house brands. Sales generated from the marketplace will be more than double Amazon’s direct sales in the U.S. by the end of the year,” reports CNBC.
Analysts expect Prime Day 2018, scheduled to begin Monday afternoon, will have a major impact on the company’s Q3 sales.
Amazon’s monopolistic dominance across multiple industries and its use of U.S. tax loopholes have drawn ire across the political spectrum, including from President Donald Trump. “I have stated my concerns with Amazon long before the Election,” he tweeted in March. “Unlike others, they pay little or no taxes to state and local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!”