Amazon bumps Walmart as No. 2 in electronics sales

Amazon (NASDAQ:AMZN) has nabbed the spot as the No. 2 seller of electronics in the United States, behind reigning No. 1 retailer Best Buy (NYSE:BBY). However, Amazon recently knocked Walmart (NYSE:WMT) out of the second place spot and is still growing.

Barron's reports on an earnings note this week showed Amazon moving ahead of Walmart for electronics sales, reported Business Journal. In fact, Amazon accounted for nearly all of last year's sales growth in electronics.

In total, Best Buy now has 22.7 percent of the market share and Amazon has 17 percent, up from 6.3 percent in 2010. It's no surprise that Best Buy is losing some of its market share – the electronics retailer reported a rough first quarter, as same-store sales were roughly flat (down 0.1 percent) and are expected to remain so for most of the year. All this is on top of disappointing holiday sales for the retailer.

Wolfe Research recently conducted a price comparison study of consumer electronics and found that Amazon had the cheapest prices (discounting the use of a Target Redcard), slightly less than at Target or Walmart. The online marketplace has long had a lead in offering cheaper electronics to many brick-and-mortar big-box stores, which is why Walmart and Target have been working to narrow or eliminate price differentials with Amazon.

For more:
- see this Business Journal article

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