Amazon is likely to pass Walmart to become the largest retailer in the U.S. next year, according to research by JP Morgan reported by CNBC.  The reason is Amazon’s growth rate, with is much faster than Walmart’s; Amazon’s "Gross Merchandise Volume" grew at a 41% rate last year, while Walmart’s grew at a 10% rate according to the report.  Amazon’s share of the U.S. e-commerce market was 39% in 2020, the report estimated.

Amazon’s rapidly expanding logistics network is a driver of growth and is beginning to surpass delivery companies’ scale; it will deliver 7 billion packages in 2021, more than the 6 billion delivered by UPS, the report said.