Amazon is gaining a significantly larger share-of-wallet for everyday household items — and the retailer continues to build momentum.
Across the U.S. housewares, health & personal care and beauty industries, the online retailer has a combined average year-over-year growth (YoY) rate of 38%, compared to the total retail market’s combined growth average of 6%, according to research from One Click Retail. The firm uses a combination of website indexing, machine learning and proprietary software to estimate weekly online sales figures at the SKU level on Amazon.
As Amazon far outpaces total retail growth YoY in American household purchases, the retailer is on track to cause serious disruption to the U.S. superstore, grocery and drug store channels. This can be credited to millennials who are spending more than twice as much as other demographics when purchasing household items online, the report said.
Specifically, Amazon’s growth rate in housewares is three and a half times that of the total U.S. domestic market. The housewares product group proved to be one of the main drivers of Amazon’s 2016 success, accounting for 15%…