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Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI

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Even as Elon Musk calls philanthropy ‘very hard,’ everyday Americans gave a record $617 billion—despite feeling the squeeze over the cost of living

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The stock market is about to suffer a 'snapback' and will lose much of this year's gains as 'speculation is hitting extreme levels,' BofA warns

1

Shark Tank's Kevin O'Leary says if he were 25 today, he'd chase these two booming opportunities in the world of AI

2

Even as Elon Musk calls philanthropy ‘very hard,’ everyday Americans gave a record $617 billion—despite feeling the squeeze over the cost of living

3

The stock market is about to suffer a 'snapback' and will lose much of this year's gains as 'speculation is hitting extreme levels,' BofA warns
RetailAmazon

Most Online Shoppers Turn to Amazon First

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Michal Addady
Michal Addady
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By
Michal Addady
Michal Addady
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September 27, 2016, 11:03 AM ET
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Amazon (AMZN) has just widened its lead in the e-commerce space, putting it in a strong position ahead of the holiday season.

BloomReach Inc., an Internet marketing firm, surveyed 2,000 people and found that 55% of online shoppers check Amazon first when they’re searching for a product. That’s an 11% increase over last year’s survey. Search engines are in second place at 28%, a 6% decrease from 2015; specific retailers are now the first choice of 16% of online shoppers, down from 21% a year earlier.

“Amazon has become the reference point for shoppers,” Jason Seeba, BloomReach’s head of marketing, told Bloomberg. “Shoppers will go to Amazon first to find a product and check prices.” E-commerce is becoming increasingly important, and online sales are expected to go up to $385 billion this year, which is a 13% boost from last year; Amazon’s stock has responded in sync.

$AMZN hits all-time intraday high; on pace for its 5th positive session in 6 per @CNBC pic.twitter.com/cpahBjpmSP

— Josh Lipton (@joshuahlipton) September 27, 2016

“Amazon keeps adding layers and is innovating at a faster pace than everyone, especially with Prime,” Cowen & Co. analyst John Blackledge told Bloomberg. Retailers have been attempting to compete with Amazon in the e-commerce space—Walmart (WMT), for one, recently bought e-commerce startup Jet.com for $3 billion.

It’s uncertain how effective the new addition will be in taking on Amazon, which already seems to have established itself as a leader in the online market. Blackledge estimates that Amazon had 49 million Prime subscribers as of August, and it’s continuing to grow.

Amazon could not immediately be reached for comment.

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