Amazon Inc. could surpass Walmart Inc. as the largest retailer in the United States by 2022.
Market research firm Packaged Facts predicts Seattle-based Amazon’s sales will grow at a much faster rate after analyzing the company’s grocery, pet products and financial services divisions. The report says Amazon could account for half of all U.S. e-commerce sales in three years. It is currently projected to comprise 43% of online sales this year.
The report notes that Walmart, based in Bentonville, Arkansas, “does have advantages Amazon cannot presently match,” including pricing and click and collect, where consumers purchase items online and pick them up in the store.
Walmart recorded fiscal year 2019 revenue of $514.4 billion, while Amazon reported annual revenue of about $233 billion in fiscal 2018, a 31% increase from the previous year.