record: Amazon To turn out to be top American clothing Retailer through 2017

Amazon is not off course to turn into the united states’s largest attire retailer by way of 2017, according to a file by way of monetary analysts at Cowen. The e-commerce massive is gearing as much as usurp the title held by way of Macy’s, Cowen studies:

We estimate AMZN’s US retail attire GMV [gross merchandise value] grows from $16BN in ’15 to $52BN in ’20, with US market share rising from 5% to 14% and simply passing Macy’s in ’17.

Amazon’s boom in apparel purchases has outpaced both Walmart and target for the earlier six quarters, Bloomberg writes, although the corporate handiest began promoting clothing in 2002. within the first half of 2015, Cowen’s report notes that eleven% of clothing clients at the two chains additionally offered clothing from Amazon, as in comparison with eight% in 2014.

Amazon is asserting its quarterly income later this week.

[via Bloomberg]