Amazon.com Inc. generated about 60% of total U.S. online sales growth in 2015 far outpacing the competition, according to data compiled by Forrester Research.
The retail giant tallied $23 billion more in U.S. e-commerce sales in 2015 than 2014, the report found.
“Amazon makes up a larger percentage of e-commerce in the U.S. than any other player, and its retail growth has outpaced overall online retail,” Forrester Research wrote in a recent report, titled “U.S. Online Retail Forecast: 2015 to 2020.”
“Much of Amazon’s revenue comes from its third-party marketplace and seller services, which we estimate to be 20% of its overall U.S. retail revenue,” the report said.
Amazon AMZN, -0.06% shares are down 1.4% in Tuesday trading.
Overall, Forrester forecasts that U.S. e-commerce sales will grow to more than $530 billion by 2020, with more than 206 million shoppers spending money online. Factors such as low unemployment numbers and improved cross-channel capabilities among retailers are two reasons for e-commerce growth.
Among the suggestions Forrester has for retailers striving to compete with Amazon: offer unique merchandise and seek out new ways to monetize the business.
Amazon shares are up 59.3% for the past year while the S&P 500 is down 2% for the same period.