TECH

Amazon Basics is killing every category it touches, including batteries

Amazon has expanded into a number of different categories over the years, including private label goods, under its Amazon Basics label. The unit is now so big that it now sells more batteries than Duracell and almost as many diapers as Pampers, according to a new report.

Continue Reading Below

Prominent venture capitalist Mary Meeker has released her annual internet trends report, which shows Amazon now sells more private-label batteries than Duracell, owning slightly more than 30 percent of the U.S. market, as of August 2016. 

It also ranks third in selling baby diapers, behind Pampers and Huggies, capturing just slightly more than 15 percent of the market.

Under its Amazon Basics label, the Jeff Bezos-led company now sells everything from sheets to phone chargers to backpacks.

The entire slide deck from Kleiner Perkins' Meeker can be read here.

ALEXA COULD BE AMAZON'S NEXT BIG WINNER

Continue Reading Below

Retailers have been hit particularly hard this year, as store closures could reach a 20-year high this year, as more consumers shop on the internet, with Amazon increasing its lead over Walmart and others.

According to Business Insider Intelligence, Amazon accounts for 43 percent of all U.S. online sales.

Despite the strength Amazon has seen over its competitors in the e-commerce space, consumers still do most of their shopping in physical stores.

According to data from the U.S. Department of Commerce, e-commerce sales accounted for only 8.5 percent of total sales in the first-quarter of 2017, or $105.7 billion on a seasonally adjusted basis. Total retail sales during the period were $1.25 trillion.

Due in part to its expanding presence in retail, as well as several other factors, Amazon's stock recently hit $1,000 per share, giving the company a market capitalization of almost $500 billion.

Outbrain