Amazon to overtake Walmart as biggest U.S. retailer in 2022, says report

Move over Walmart.

Amazon is set to overtake Walmart as the largest retailer in the United States in 2022, according to JP Morgan research.

 Between 2014 and 2020, Amazon’s U.S. gross merchandise volume, or GMV — a closely watched industry metric used to measure the total value of goods sold over a certain time period — has grown “significantly faster”  than both U.S. adjusted retail sales and U.S. e-commerce, the Morgan analysts said,  reported  CNBC.  Amazon’s U.S. retail business is the “fastest growing at scale,” according to the company’s analysts.

“Based on current estimates, we believe Amazon could surpass Walmart to become the largest U.S. retailer in 2022,” J.P. Morgan analysts Christopher Horvers and Doug Anmuth wrote Friday.

To read the full CNBC story, click here https://www.cnbc.com/2021/06/11/amazon-to-overtake-walmart-as-largest-us-retailer-in-2022-jpmorgan.html