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The World’s Second Most Valuable Brand
Moves up to Number 11 in US Domestic Sales
Moves up to Number 11 in US Domestic Sales
There is no better sign that online shopping is here to stay than when a pure play online retailer is poised to join the ranks of America’s largest brick and mortar retail giants. The new kid on the block is Amazon, which jumped to number 11 on a list of the largest U.S. retailer in terms of domestic sales. Amazon raked in $34.42 billion in U.S. sales in 2012, a 30% year-over-year increase.
The Seattle-based online retailer is already ranked as the second most valuable global retail brand on a list that includes international retail giants like Walmart, Tesco, Carrefour, and Aldi. Cracking the top ten in the influential US market is considered significant because it clearly demonstrates that Americans are changing the way they shop.
Although giants like Walmart, Kroger, Target, and Home Depot, still lead Amazon in domestic sales, they are not growing nearly as fast as the online retailer. Traditional brick and mortar stores haven’t even been able to come close to Amazon’s impressive 30% year-over-year increase in sales.
Amazon’s Growth in the Luxury Industry
Amazon’s steady growth hasn’t gone unnoticed in the fine jewelry industry. For many years, Amazon has been creeping up in the ranks of the largest and most influential fine jewelry and watch sellers. Amazon is already ahead of familiar jewelry and watch sellers like Sears at number 13 on the list, and Macy’s at number 14. To put things in perspective, luxury retailer Neiman Marcus is all the way down at number 84 on this year’s list of domestic sales.
It seems clear that Amazon will soon join the exclusive ranks of the top-10 US retailers. If their performance continues at present rates, Amazon could even be number one in the not too distant future. This explosive growth has serious implications for anyone who makes or sells luxury goods. According to Gevril Group President Samuel Friedmann, Amazon will be an important component in any luxury goods marketing strategy. “Every year, we see an increase in the number of watches selling on Amazon,” says Friedmann. “Amazon sales are a part of world marketing strategy now, and will continue to be so in the future.”
About Gevril Group
Gevril Group is the exclusive US representative for select European watch brands, distributing and servicing luxury, fashion and sports timepieces at a wide range of price points. Gevril Group also operates a full-service watch repair department staffed by master Swiss watchmakers. Contact Gevril Group by email or by calling 845-425-9882.
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