Amazon is set to nearly double its online food sales globally over the next five years seeing it overtake the US’ largest retailer Walmart.
Amazon’s online grocery sales business is expected to top $26.7 billion by 2026, nearly double its current $14.5 billion, according to figures from Edge Retail Insight.
The online behemoth is set to enjoy a compound annual growth rate (CAGR) of 13 per cent over the same period, seeing it overtake Walmart’s own online grocery arm despite it expected to see a higher CAGR of 14.1 per cent, topping $19.5 billion by 2026.