Target breaks into the top 10 list of US e-commerce retailers

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Reported today on TechCrunch

For the full article visit: https://techcrunch.com/2020/02/24/target-breaks-into-the-top-10-list-of-u-s-e-commerce-retailers/

Target breaks into the top 10 list of US e-commerce retailers

Target's investments in store remodels, same-day delivery and drive-up services are paying off. The retailer, which used to rank No. 11 in U.S. e-commerce sales, has now jumped three spots to break into the top 10 list as the No. 8 retailer, according to a new report from analyst firm eMarketer. This puts Target ahead of declining businesses QVC and Qurate Retail Group (HSN's owner), as well as No. 9 Costco and No. 10 Macy's, the new forecast says.

The firm estimates Target's e-commerce business will grow 24% in 2020 to reach $8.34 billion, allowing it to crack the top 10 list. However, Target's overall share of the U.S. e-commerce market remains small in the shadow of Amazon's dominance. Amazon will claim a 38.7% share of the market this year, versus Target's 1.2%. Even Amazon's next nearest competitor Walmart is far behind, with just a 5.3% share.

The rest of the top 10 list includes eBay (5.3%), Apple (3.7%), Home Depot (1.7%), Wayfair (1.5%), Best Buy (1.3%), then Target (1.2%) followed by Costco (1.2%) and Macy's (1.1%).

Target will just barely pass Costco, which is forecast to generate $8.33 billion in e-commerce sales in 2020. Its growth also comes at the expense of Macy's, which is dropping from 1.2% in 2019 despite its growing online business. Qurate (HSN) is dropping from 1.2% in 2019 to just 1.0% this year, to find itself out of the top 10 list entirely for the first time.

It's worth noting that Amazon last year took on video shopping networks HSN and QVC with a live-streamed video shopping service of its own. Amazon Live, as its service is called, streams live video shows from both Amazon talent and brands broadcasting their own streams. That may account for some



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