This chart shows how Amazon is totally crushing its retail competitors

Big box retailer stocks are getting hit hard Wednesday, following Macy’s dismal earnings report.

Macy’s shares are down 13%, while some of the largest retailers like Sears, Target, and Nordstrom all dropped by at least 5% during the day.

Amidst all this, Amazon, the online retailer that just opened its first physical store last year, is trading at an all-time high, reflecting a clear shift in consumer behaviour.

The growth of online shopping is nothing new. But this chart that compares the 12-month stock movement of Amazon, Walmart, Macy’s, Target, and the retail index fund “XRT” clearly illustrate the online retailer’s growing dominance in this space:

And don’t expect things to change anytime soon. Macy’s CEO Terry Lundgren gave lowered guidance with a comment that should concern the rest of the retail industry 0n Wednesday, saying, “We are seeing continued weakness in consumer spending levels for apparel and related categories.”

That’s in stark contrast to the level of growth Amazon has been seeing in its apparel sales. According to the financial services firm Cowen & Co., Amazon’s apparel and accessories business is one of its key growth categories and is forecast to see steady expansion, eventually replacing Macy’s as the largest US apparel retailer by 2017.

In the first quarter of this year, Amazon’s apparel sales jumped 19%, while Walmart and Target each saw 1% and 5% year-over-year dip, respectively, according to Cowen & Co. Longer term, Amazon’s apparel business grew 28% each quarter since 2014 versus Walmart’s 4% and Target’s 3% growth rate.

“Amazon’s success is being driven by accelerating apparel purchaser growth in 2015 and continued strong growth in 1Q 2016,” Cowen’s John Blackledge wrote in a note Wednesday.

Disclosure: Jeff Bezos is an investor in Business Insider through hispersonal investment company Bezos Expeditions.

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