Online retail king Amazon.com, Inc. (NASDAQ:AMZN) absolutely dominated the recent record-breaking e-commerce holiday shopping season, according to just-released data.
Overall, industry-wide online shopping numbers blew away expectations. From Slice Intelligence:
The e-commerce data for the 2016 online Holiday shopping season is in, and it was the strongest season yet, with growth of 20 percent relative to 2015, far higher than the most aggressive e-commerce prognosticators had forecast.
Predictably, the largest beneficiary of the massive uptick in online holiday season sales was Amazon:
Amazon’s share of U.S. e-commerce sales grew significantly as we got closer to Christmas and Hanukkah. From November 1 through Cyber Monday, Amazon’s share of e-commerce was 33 percent, compared with 44 percent during the final stretch (December 15 through December 25). However, this was consistent with Amazon’s share during the 2015 Holiday season. Amazon netted out with a consistent share of 38 percent in both 2015 and 2016.
A big factor helping this year’s holiday sales was the inclusion of two extra shopping days in the season. That’s because of the date that Thanksgiving fell last year — November 24 — was two days earlier than in 2015.
So while just about every retailer got a major boost from online sales this past holiday season, Amazon benefitted the most. If that trend is going to change, then the competition will have to step up its game considerably to stave off the company’s ever-dominant hold on e-commerce.
Amazon.com shares rose $1.39 (+0.18%) in premarket trading Friday. Year-to-date, AMZN has gained 4.08%, versus a 1.28% rise in the benchmark S&P 500 index during the same period.
Try StockNews.com Premium Today!
Get access to our daily newsletters, Best Stocks List, POWR Ratings, and much more!
Free for 14 days -- no credit card required!