Amazon Nears 10% US Retail Spend Share as Online Shopping Dominates

A recent report from PYMENTS Intelligence shows that Amazon's U.S. retail spending share has reached 9.6% in the second quarter, its highest level to date.

This is a significant milestone for the e-commerce giant, which has been steadily increasing its market share over the years.

Amazon was found to be winning in five out of seven tracked retail categories, but it still lags behind Walmart when it comes to grocery spending share. In fact, it would take Amazon 100 years to close Walmart's grocery lead, according to analysts at PYMNTS Intelligence.

The report highlights the shift in consumer behavior towards online shopping, with order categories' share of the retail market reaching a new high in the second quarter, hitting 24% of retail spending. This is up from 21.1% in 2019.