According to the National Broadcasting Corporation Business Channel (CNBC) report, a research report released by financial services company JPMorgan Chase on the 11th predicts that Amazon will replace Wal-Mart as the largest retailer in the United States next year.

JPMorgan Chase concluded that Amazon's U.S. retailer business is not only growing faster than Wal-Mart, but also faster than the overall U.S. retail sales and e-commerce growth rate.

According to the analysis of the JP Morgan Chase report by the research institution Stansberry Research, Amazon's total transaction volume increased by 41% in 2020, reaching US$316 billion, while Wal-Mart increased by 10% to US$439 billion. According to research, Amazon alone accounts for 39% of the entire e-commerce market.

Stansberry pointed out that earlier this year, Wells Fargo analysts concluded that Amazon has surpassed Wal-Mart to become the largest clothing retailer in the United States.

However, in the field of household goods, Amazon has not yet fully led the way. According to US media reports, in 2019, Amazon's total household goods sales were at least $12 billion less than Wal-Mart. In terms of home textiles, Amazon ranked fourth, followed by Wal-Mart, Bed Bath (3B) and Target.