The Real Deal New York

Here’s why Amazon’s reign continues stronger than ever

Hint: it's due to a certain generation
January 07, 2018 04:34PM

(Credit back to front: Álvaro Ibáñez/Wikimedia Commons; Pixabay)

Amazon had a banner 2017 accounting for 44 percent of all online sales and 4 percent in overall sales in the U.S. but who and what helped Amazon reach its lofty heights?

According to data by One Click Retail, the who is largely aging millennials, reports CNBC.

“Every major trend we see across 2017 can be explained by the fact that more of Amazon’s core demographic (millennials) are growing up: they’re increasingly owning homes, raising children, and buying a TON of stuff to go with it,” wrote One Click Retail’s CEO Spencer Millerberg.

The products flying off the virtual shelves the fastest are beauty products, groceries and non-perishables, and furniture, while electronics remained the biggest seller bringing in a whopping $8 billion last year.

Millerberg expects 2018 to focus on the e-commerce giant’s custom brands and products like Alexa and AmazonBasics, which accounted for about $450 million in sales.

[CNBC] — Erin Hudson