As the world’s largest eCommerce retailer by revenue and market capitalisation, Amazon has witnessed explosive growth over the past two years. In 2021, the eCommerce net sales of the retail giant are expected to hit over US$146bn, or US$60bn more than in 2019, and the increasing trend is set to continue next year.
According to data presented by StockApps, the eCommerce net sales of Amazon’s marketplace are expected to jump by a further US $16bn and hit over US$162bn in 2022.
eCommerce net sales to nearly double in three years
The global surge in online sales amid the pandemic has been a major booster of Amazon’s sales and revenue growth.
In 2020 only, sellers on the Amazon marketplace sold US$300bn worth of goods, US$100bn more than in 2019. On the other hand, The Future Shopper Report 2020 showed 48 per cent of global online shoppers chose Amazon as their favourite shopping destination for entertainment items last year. Another 37 per cent of respondents preferred its marketplace for buying toys and 29 per cent for tech purchases.
According to eCommerceDB data, the retail giant has seen its eCommerce net sales grow by around US$10bn per year even before the COVID-19. But, after the pandemic hit, annual growth almost tripled, causing net sales to reach US$120.9bn in 2020, up from US$86bn a year before that.
Statistics show the retail giant is expected to see its eCommerce net sales grow by further US$25.4bn in 2021 and another US$16bn in 2022. Despite the slowdown, total net sales on Amazon’s marketplace are expected to nearly double compared to the pre-pandemic levels.
US accounts for 93 per cent of total sales, electronics and media the most popular product category
Although amazon runs multiple other online stores like amazon.co.uk, amazon.de, and amazon.fr, statistics show that the United States is convincingly its largest market. In 2020, around 93 per cent of first-party net sales on amazon.com were shipped to customers in the US. Far behind, Canada ranked as the second-largest market with a 1 per cent sales share. Greater China, the United Kingdom, and Australia followed, with 0.6 per cent, 0.4 per cent, and 0.3 per cent share, respectively.
Statistics also show electronics and media was the most popular product category on Amazon’s marketplace, with almost 55 per cent share last year. Toys and hobby products made around 22 per cent of all online purchases in 2020. Furniture and appliances, food and personal care, and fashion followed, with a 14 per cent, 5 per cent, and 4 per cent share, respectively.
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