Amazon has been the largest web based retail platform for sometime now. But as its sales begin to surpass $258.22 billion, the company is closer than ever to holding more market share than all other US e-tailers combined, according to Tech Crunch. With sales up more than 29 percent from last year, Amazon's growth looks unstoppable.
Even it's closest competitor, eBay, is miles behind—holding a still impressive 6.6% of the market.
The area where Amazon has seen the most growth as of late is in Amazon Marketplace - the platform that allows third parties to use Amazon's retail and logistical infrastructure to sell their own wares. The Marketplacecurrently brings in 68 percent (or almost $176 billion) of total sales. And there is no reason to expect things will slow down anytime soon, according to Andrew Lipsman - the principal analyst for eMarketer.
"The continued growth of Amazon’s Marketplace makes sense on a number of levels," Lipsman told Tech Crunch. "More buyers transacting more often on Amazon will naturally attract third-party sellers. But because third-party transactions are also more profitable, Amazon has every incentive to make the process as seamless as possible for those selling on the platform."
Amazon has also been making moves to become a force to be reckoned with in four specific sales categories: tech, apparel, health and beauty, and food and drink. And while markets such as food and drink have been traditionally difficult to migrate online, Amazon may be poised to make it work says eMarketer senior analyst Patricia Orsini.
"Amazon has an advantage because its shopper base is comfortable with shopping online. Along with insights gathered about Whole Foods shoppers, Amazon probably has the best chance of converting in-store grocery buyers to online grocery buyers."
So, if you were ever sceptical of Jeff Bezos' title as the richest person in the world, you can put those doubts to rest.