{
  "id": 11913355,
  "title": "Why has e-Commerce accelerated and who is gaining?",
  "url": "https://urgent.news/2026/10/04/why-has-e-commerce-accelerated-and-who-is-gaining",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-04T11:07:13.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/stock-market-news/why-has-ecommerce-accelerated-and-who-is-gaining-4930926"
  },
  "original_language": "en",
  "account": "U.S. e-commerce growth has outpaced expectations in 2026, expanding at approximately 10% year-over-year during the first three quarters, surpassing Bernstein's initial 8% forecast. This surge is largely attributed to AI-driven enhancements in Google and Meta advertising, which have increased conversion rates. Adjustment for Prime Day timing led to an estimated 8.4% growth for the third quarter, with a combined 10.4% increase across the second and third quarters. First-quarter growth stood at 9.7%.\n\nSeveral factors are driving this robust performance, including improved digital advertising strategies, steady consumer spending, and reduced online retail competition from platforms like Temu and Shein. The top 14 U.S. e-commerce platforms captured around 82% of the gross merchandise value in the second quarter, a 3 percentage point increase from the previous year. Shopify and Walmart experienced the most significant gains among large platforms, while Carvana and eBay also outperformed relative to their size.\n\nShopify's share of U.S. e-commerce rose to 14.2% from 13.2%, and Walmart's share increased to 8.7% from 7.8%. Amazon's share edged up to 42.9% from 42.3%. Bernstein projects second-quarter growth at 52% for Carvana, 25% for Walmart, 24% for eBay, and 21% for Shopify, compared to 14% for Amazon and 12% for the entire market. Amazon, Shopify, and Walmart have largely benefited from the additional online spending, although Amazon's growth has been more modest than its competitors.\n\nVarious company-specific factors are contributing to this growth. Amazon is expanding its everyday essentials and same-day delivery services, while Shopify is capitalizing on larger enterprise customers and international expansion. Wayfair's rewards program accounts for nearly half of its estimated growth this year, and eBay is seeing increased demand for collectibles, second-hand goods, auto parts, and accessories. However, Bernstein warns that rising interest rates and surging oil prices could potentially hamper consumer spending. Despite these concerns, company management teams remain optimistic.\n\nAnalysts anticipate that U.S. e-commerce growth may decelerate in 2027. If growth remains around 10% next year, Bernstein expects analysts to revise revenue forecasts upward across the sector. A return to mid-single-digit growth could, however, lead to lower valuation multiples. Bernstein rates Amazon, Shopify, and Wayfair as \"outperform,\" while eBay and Etsy are rated as \"market perform.\" The firm estimates online retail penetration at 17%.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}