We recently published an article from Adobe referencing Black Friday / Cyber Monday holiday weekend shopping results. One of the interesting thoughts that resulted from this was the fact that the Adobe data didn't take into account online sales from Amazon, the #1 retailer in the IR Top 500. Internet Retailer just released a report highlighting how Amazon accounts for 82% of the eCommerce growth in Q3 2016. Here are the details:
Internet Retailer’s exclusive quarterly financial report for the third quarter shows that the 32 publicly held companies that break out e-commerce sales on a quarterly basis grew 22.5% in the quarter to $41.32 billion, up from $33.73 billion in the same period of 2015. By comparison, the U.S. Commerce Department reports that total e-retail sales for the quarter grew by 15.6%. That suggests that the publicly traded online retailers outperformed the rest of the industry, thereby grabbing market share.
But a closer look reveals that Amazon, No. 1 in the Internet Retailer 2016 Top 500 Guide, accounted for 81.7% of the quarter’s web revenue growth reported by the 32 publicly held web merchants tracked in the report. Including sales of its own products and the commissions and fees it receives from marketplace sellers, Amazon’s third quarter revenue increased 26.7% to $29.48 billion from $23.27 billion a year ago. That figure does not include revenue from its cloud storage service, Amazon Web Services, which totaled $3.23 billion during the quarter, Amazon reported in October.
When you bring this data together with the Adobe Black Friday article, it really puts into perspective (the somewhat obvious) driving forces behind the holiday online retail numbers.
For more reading:
Adobe Data Shows Black Friday Breaks Online Sales Record with $3.34 Billion
First Look: Black Friday & Cyber Monday Video
Amazon accounts for the majority of Q3 online sales growth