Amazon Maintains E-Commerce Lead, JPM Says

Amazon (AMZN) maintains its lead in US e-commerce retail, according to JPMorgan. The company's retail business grew faster than the overall market, with global first-party sales up 10% and third-party sales also rising 10%. Amazon's share of the US e-commerce market increased to 46.8% in Q2, and is expected to grow further in Q3 and Q4. JPMorgan analysts maintain that Amazon is positioned as the leader in e-commerce and keep it as their "Best Idea."

Amazon (AMZN) continues to solidify its position as the leading player in the U.S. e-commerce market, according to a recent report from JPMorgan. The company's retail business experienced robust growth in the second quarter of 2025, with global first-party sales and third-party sales both rising by 10%. This growth was accompanied by a significant increase in Amazon's share of the U.S. e-commerce market, which reached 46.8% in Q2. JPMorgan analysts have maintained that Amazon is well-positioned to continue its leadership in the e-commerce sector, reaffirming their "Best Idea" status for the company.

Amazon's retail business has been bolstered by several factors, including its expansive logistics network, personalized shopping experiences, and innovative technologies such as same-day delivery and cashierless stores. These investments have enabled Amazon to outpace competitors like Walmart, which has seen its growth rate slow in comparison. According to PYMNTS Intelligence, Amazon's U.S. retail sales grew by 9.5% year over year in Q2 2025, significantly outpacing Walmart's 4.6% growth rate [1].

Despite the strong performance, Amazon's Prime membership program faced a slowdown in sign-ups during the 2025 Prime Day event. While the four-day event saw a record number of sales and sign-ups, the three weeks leading up to Prime Day showed a 5% decrease in new U.S. Prime memberships compared to the same period last year. This decline, however, did not impact the overall subscription revenue, which remained strong, generating $23.9 billion in the first half of 2024 [2].

Looking ahead, Amazon's share of the U.S. e-commerce market is expected to continue to grow in the third and fourth quarters of 2025, driven by its strategic investments in logistics, technology, and customer experiences. JPMorgan analysts believe that Amazon's ability to maintain its competitive edge and innovate will ensure its continued dominance in the e-commerce sector.

References:
[1] https://www.pymnts.com/news/retail/2025/amazons-ecommerce-flywheel-gathers-speed-while-walmart-loses-ground/
[2] https://brandequity.economictimes.indiatimes.com/news/business-of-brands/amazon-us-prime-sign-ups-slow-despite-expanded-of-prime-day-sales-data-shows/123656985