Amazon is now the UK’s fifth largest retailer.
According to analyst GlobalData, the online giant accounted for more than £4 in every £100 spent in retail in 2017.
Figures show that Amazon continues to outstrip growth in the UK online channel, with retail revenue estimated to have risen by 22.5 per cent in 2017, by comparison with total online spending, which rose by 8.4 per cent.
The company is not only taking share from its UK competitors, but is forecast to have accounted for 33.5 per cent of all UK spend online in 2017 versus 29.6 per cent in 2016.
GlobalData figures highlighted the top 10 retailers in the UK, according to their share of retail spend. Tesco was in the number-one position, with Sainsbury’s and Asda coming second and third. John Lewis came in at number six and Dixons Carphone was in 10th place.
Said Sofie Willmott, senior retail analyst at GlobalData: “Amazon is soaring up the ranks of UK retail with the online behemoth only held off the top spot by the big four grocers in 2017. Its dominance in the retail market, considering it primarily sells non-essential items by comparison with the grocers who benefit from selling indispensable, everyday goods, and that it does not have any physical stores in the UK, is evidence of how Amazon has continually innovated and succeeded in meeting consumer needs, in terms of both product range and shopping experience.’’
She added: “It is imperative that retailers continue to give shoppers a reason to visit and purchase from their own sites, such as exclusive products or loyalty rewards, to maximise profits and consolidate their place in the market.’’