Big retailers already dominate Americans' lives. Their grasp on consumers is only getting stronger.
The three biggest retailers by revenue in the U.S.—Costco, Walmart, and Amazon—accounted for about 11% of total retail sales back in 2014, based on their reported figures measured against national retail sales data from the Commerce Department. Their share of the market has been growing since then. In their last three reported quarters, the behemoths selling everything from groceries to appliances made up about 17% of retail sales and roughly 57% of retail sales growth over that period.
Supermarkets have been a chronic casualty of the big retailers' rise. Grocery stores accounted for about two-thirds of food-at-home spending in the U.S. in 2000, but their share shrank to 54% in 2023, according to the U.S. Department of Agriculture. Over the same period, warehouse clubs and supercenters such as Costco and Walmart nearly doubled their market share to 23%.
Amazon hasn't grown its share of the grocery market much, but it captures a sizable share of everything else: About three-fourths of U.S. households have Amazon Prime, its paid membership program, according to a 2024 survey from Evercore.
This story is from the January 03, 2025 edition of Mint New Delhi.
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This story is from the January 03, 2025 edition of Mint New Delhi.
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