Study: The markets where Amazon doesn’t dominate are…
Amazon continues to grab consumer wallet share, but Walmart is holding its own in some markets.
Walmart still enjoys more than 60% share of spend among millennials in Florida and Texas, and has maintained a far more stable share of the market over the past three years, according to data from consumer payments data firm Arm Insight.
According to data, Florida consumers’ Walmart spend is more than twice that of their Amazon spending. This is more than twice their Target spend.
While Walmart is holding its own in these regions, Amazon continues to gain considerable ground on the discount giant — and this momentum is much more pronounced in California and New York. Here, the online retailer overtook Walmart in share of spend in December 2016, and again for good in May 2017.
Since May, Amazon has increased from just over one-third share of spend to nearly half. It is a similar story in the nation’s capital, where Amazon spend across all generations is more than Walmart and Target combined — a percentage that includes all online and in-store sales. As a whole, Amazon has 51% of consumers spend, Walmart earned 34%, and Target gained a mere 15%.
Spending share is even more pronounced from a millennial perspective, where Amazon grabbed 53%, Walmart gained 30%, and Target lagged with 17%, the data revealed.
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