The Zhitong Finance App learned that Xiaomo released a research report saying that it maintains Amazon's (AMZN.US) “increase holdings” rating, with a target price of 4,600 US dollars. Analyst Doug Anmuth still lists it as the industry's first choice.

One of the most significant effects of the pandemic is changing the way people shop. Although the shift from physical stores to online shopping began before the outbreak of the pandemic. However, the pandemic brought forward the growth of e-commerce by about 3 years.

According to the US Department of Commerce, e-commerce spending in the US increased 31.8% year over year in 2020 to 19% of adjusted retail sales (excluding food service, car and other motor vehicle dealers, and gas stations). This is far higher than the 6.3% of total adjusted retail sales in 2010.

Xiaomo analyst Doug Anmuth believes that by 2025, e-commerce will account for 30% of total retail sales, and may eventually reach 40-50%. E-commerce giant Amazon (AMZN.US) has benefited the most from this shift in consumption patterns, and it seems likely that it will continue to benefit. Furthermore, with the expansion of e-commerce as the cake, Amazon “did not lose its position.” The bank believes that the expected growth means Amazon will soon become the king of the US retail industry.

Looking ahead, Amazon may surpass Walmart (WMT.US) to become the largest retailer in the US by 2022. In 2020, Amazon's total US merchandise transactions are estimated to reach $316 billion (excluding Whole Foods supermarkets), up 45% year-on-year, driving the 39% share of e-commerce in the US and nearly 8% of total retail sales.