Amazon, Walmart and Costco are getting bigger at a faster pace, according to new research from Morgan Stanley.
And the biggest are getting bigger even quicker, according to the latest “Retail Funnel” report by Morgan Stanley stock analysts Simeon Gutman and Brian Nowak.Inc. and Costco Wholesale Corp. accounted for about 46 percent of all incremental retail sales in the third quarter.
The trio was even stronger online, accounting for more than 75 percent of all new e-commerce sales in the quarter. “With the rest of retail losing share of incremental sales on average, the Funnel tells the story of retail right now with the big getting bigger at an accelerating pace,” the analysts said. is on top, the e-commerce giant saw its share of incremental retail growth slip about 5 points between the second and third quarters.
Doug McMillon, Walmart’s president and chief executive officer, said 75 percent of the company’s market share gains were coming from households earning more than $100,000 and that the company has more room to grow in fashion. In addition to going after higher-income fashion shoppers with its online marketplace, Walmart has been sharpening its in-store presentation and looking to transform very large private label programs into national brands. in the third quarter and saw comparable sales inch up just 0.3 percent after a 4.9 percent comp decline a year earlier.
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