While online shopping was always doing very well – especially in the last decade – it was only after the pandemic menace, one witnessed e-commerce expanding big across the globe.
And if reports by Retail Insight are anything to go by, then the online giant Amazon is all set to surpass Walmart and become the largest American retailer by 2025.
The firm has, reportedly, made a forecast that Amazon’s gross merchandise value (GMV) will record US $ 631.6 billion by 2025.
It added that overall online sales in the country will hit US $ 1 trillion in next 4 years.
While making the prediction through a press release, the firm also predicted that Walmart’s domestic sales will reach US $ 523.3 billion by 2025.
The firm says in next 4 years, third-party sellers will account for 66 per cent of Amazon’s GMV by 2025 – a 60 per cent rise from what it was in 2020.
Yes, there’s prediction that Walmart too will continue to grow every year at a rate of 15 per cent to clock US 87.5 billion in 2025. That’s a very good number, but may not be enough to keep Amazon away.
The numbers indicate Amazon is surely going to overtake Walmart, but in these tough times when the retail scenario is changing very fast every quarter, it will be interesting to see where both of them stand in next 1 year.