Amazon has been the center of attention lately. Today, JPMorgan published its report predicting Amazon will become the US’ largest retailer in 2022.
JPMorgan’s report called Amazon’s business the “fastest growing at scale.” Analysts estimate Amazon’s gross merchandise volume (GMV) is even growing faster than Walmart, the US’ current largest retailer.
JPM analysts Christopher Horvers and Doug Anmuth shared:
Based on current estimates, we believe Amazon could surpass Walmart to become the largest U.S. retailer in 2022.
Thanks to the pandemic’s boost to online ordering and Amazon’s expansion into grocery and apparel industries, the e-commerce giant will deliver 1 billion more packages than UPS this year.
Not bad, Amazon— this is certainly better news for the company than yesterday.