The stock of Amazon.com, Inc (NASDAQ:AMZN) closed at $1,204.20 gaining 1.28% in yesterday’s trading session. It goes without saying that 2017 was a rather impressive year for Amazon’s retail business. The other encouraging thing is the fact that there is still plenty of room for the retailer to expand in several categories over the course of this year.
Last year, the internet giant turned out to be behind almost 44% of all U.S. e-commerce sales. The information was unveiled by One Click Retail, an e-commerce analytics provider.
Spencer Millerberg, CEO of One Click Retail opined, “Every major trend we see across 2017 can be explained by the fact that more of Amazon’s core demographic (millennials) are growing up: they’re increasingly owning homes, raising children, and buying a TON of stuff to go with it. This raises the question: will this create long-term changes and tailwinds for Amazon?”
The other critical question that needed to be asked was on whether or not the 300-ish Whole Foods stores would be in a position to offer meaningful competition in the brick-and-mortar space against the 4000+ stores of Wal-Mart Stores Inc (NYSE:WMT).
It was in 2017 when One Click Retail attested to the fact that it was on Amazon.com where it had come across the fastest-growing product groups. These were furniture (up 33%), pantry items (up 38%) and luxury beauty (up 47% from a year ago).
About $8 billion in sales were closed last year on Amazon.com and an official working with the provider revealed that much of the sales stemmed from the consumer electronics division. It is a segment that comprises headphones, laptops, as well as a wide array of other computer components. Publishing, Home and kitchen as well as sports and outdoors happened to be the other top-grossing categories.
Back in 2017, Amazon is said to have undertaken its operations in a quiet way building out an automated marketing system that catered to the several brands which sold on its website.