Amazon will displace Macy’s to become the number one US apparel retailer by next year, according to analysts at Cowen and Company.
“[Our calculation] implies a gain in US apparel & accessories market share from 5% to 14%,” said the analysts led by John Blackledge. Bloomberg reported: “We have seen a continued shift away from more traditional retailers…In the first quarter of 2016, Amazon apparel purchasers were up 19% year-over-year, while apparel purchasers fell 1% year-over-year and 5% year-over-year at Wal-Mart and Target, respectively.”
Bloomberg reported that there is an obvious trend looking at the revenue from electronics and general merchandise and that the etail giant has seen continuous growth in its retail business with the expansion of its Prime offering.
Amazon is stepping up its fashion ambitions in the UK with the hire of former M&S womenswear director Frances Russell, who started at the firm in mid-March.