Amazon still has tremendous growth opportunities ahead, Morgan Stanley analyst Scott Devitt writes today.
Despite Amazon’s growth so far, it still only represents 8% of global e-commerce, Devitt writes — and ecommerce is only 6% of retail.
Therefore, as Amazon continues to steal market share from retailers — Barnes & Noble, Borders, and Best Buy are immediate U.S. targets — Devitt thinks it can reach $100 billion in revenue by 2015. That’s more than double the $45 billion in sales that the Street expects from Amazon this year.
Even Amazon’s mature industries like books can still produce plenty of growth. Today’s chart shows Amazon’s media and “EGM” (electronics and general merchandise) sales — versus the competition, and versus the broader books and consumer electronics market.
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