With Amazon Prime Day well underway, the e-commerce giant already looks set to beat even last year's blockbuster sales volume.
"They'll crush the number of items they sold on Prime Day last year," said Gene Munster, managing partner at Loup Ventures. "We expect Amazon will sell 30 to 40 percent more items on Prime Day 2017 vs. Prime Day 2016."
Last year, the self-created sales holiday was its biggest day ever, said Amazon, with worldwide orders rising more than 60 percent compared with the previous Prime Day. In the U.S., orders rose by more than 50 percent.
But Amazon isn't just dominating the retail landscape. It's beginning to take over other markets, also. Recent data shows that the number of people with an Amazon Prime subscription is on target to rocket past the number of people with a cable TV subscription. Earlier this year, Amazon even picked up a Golden Globe for "Transparent," the first online show to ever win for best television series.
In the battle of clicks versus bricks, Amazon took 18 years as a publicly traded company to catch up to mega-retailer Walmart — but just two more to become twice as big.
Amazon's mark capitalization currently stands at $465 billion. By comparison, Walmart is worth $229 billion.
Amazon started out in 1995 as a bookseller with modest goals. But after wiping out a vast swath of brick-and-mortar bookstores with its cut rate prices to end up dominating the literary landscape, CEO and founder Jeff Bezos recognized that he was onto something. In 2003 the e-retailer expanded to include sporting goods, clothes, jewelry, electronics, outdoor equipment, fresh food delivery, and health and personal care products.
Now, with Amazon moving into new territory, iconic retailers and department stores, some of which overexpanded, are also getting hit hard. Sears, Macy's, and JCPenney have all shut down locations over the past year. Last month alone, electronics giant Radio Shack shuttered 1,000 locations.
But perhaps it's not all bad news for traditional retailers.
“I don’t think [retail] is dead. It needs a facelift,” Joseph Hancock, a professor of retail at Drexel University’s Westphal College of Media Arts & Design, told NBC News. “Retailers really need to think outside the box on how they want to appeal to consumers to get them back into the malls.”
Actually... Amazon has that covered, too. It just opened its seventh brick-and-mortar bookstore last month, in the Columbus Circle mall in New York City.