Amazon to become top US clothing retailer over Macy’s
Amazon is primed to become the number one clothing retailer in the US by 2017, dethroning Macy’s.
The company is expected to sell $27.77 billion worth of apparel in the US by 2017, according to a report released Monday by Cowen & Co. The company’s apparel business is expected to reach $16.34 billion this year compared to $22.2 billion by Macy’s. Just four years ago, Macy’s apparel sales were five times greater than Amazon’s, according to Fortune.com.
Amazon offers more apparel options compared to Macy’s and other retailers like Walmart, Nordstrom and Target. According to Cowen, the company sells 343,000 different kinds of items, compared to Walmart that offers 292,000, Macy’s and Nordstrom, which offer 85,000 each, and Target, which offers 35,000.
Customers are increasingly turning to Amazon as reliable source for shopping. 11% of Target and Walmart say they have turned to Amazon as well.
Cowen analyst Oliver Chen told Fortune that Amazon’s distribution infrastructure, speedy delivery and the loyalty of Amazon Prime are increasing Amazon’s growth and are making things more difficult for department stores and general merchandise stores.
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