It’s beginning to look a lot like Christmas, and it’s also beginning to look a lot like Amazon is going to be the king of ecommerce this holiday season.
According to GBH, Amazon is actually on track for half of the ecommerce holiday sales that are made in the United States this year. The overall ecommerce sales in the United States for the holiday season are said to grow 20% year-over-year, while it is believed that retail ecommerce sales in the U.S. will reach $485.27 billion in the year 2021.
Daniel Ives, head of technology research at GBH, says Amazon has its Prime members to thank for their continuing success. The group of Amazon Prime members is 85 million strong and is getting bigger by the minute.
Prime members are expected to spend 20% to 25% more money on the online shopping hub this year compared to last year, according to a study from GBH.
Ives spoke with Chain Store Age regarding the hike in spending and Amazon’s Prime success.
“The ring-fence that Amazon has built around its Prime customer base has significantly benefited the company in a fiercely competitive Cyber Monday pricing environment with much more competitive prices from Walmart in particular, seen across inventory during the day,” Ives said. “With e-commerce Black Friday/Cyber Monday sales so far trending above expectations, these are very positive data points heading into the rest of holiday season for Amazon (and its investors), in particular.”
Forbes says that this year’s Cyber Monday was extremely successful for the online retail giant. They say that not only was it successful enough to surpass the achievements made from the 2017 Black Friday deals, but it also surpassed the success of its own Amazon Prime Day.
The company not only looked at the sales in general made from this year’s Cyber Monday but also focused on mobile sales. Amazon says that sales via its app went up 50% as compared to 2016. Customers ordered millions and millions of products on the infamous online shopping day, and those holiday shopping profit numbers are expected to rise as the season continues.