Amazon (AMZN) strengthened its position as the top e-commerce retailer in the US, according to JPMorgan. With a 46.8% market share in Q2, the company is expected to reach 47.4% in Q3 and 49.2% in Q4. Analysts maintain Amazon as their “Best Idea” in e-commerce.

JPMorgan reported that Amazon’s first-party sales globally grew by 10% from last year, outpacing the overall market. Third-party sales also rose by 10%, driven by high demand for essentials and fast delivery services. Amazon’s success was attributed to its strong logistics and the growth of the Prime ecosystem.

Online sales in the US increased by 5.3% in the second quarter, marking the tenth consecutive quarter of growth. E-commerce now accounts for 21.9% of adjusted retail sales. JPMorgan noted that Amazon’s retail business outperformed the market, with a 10% increase in global first-party sales and a 10% rise in third-party sales.

Analysts at JPMorgan predict that Amazon will continue to dominate the e-commerce market, with an expected market share increase in the coming quarters. They see Amazon as a solid investment opportunity and maintain their positive outlook on the company as the leader in the e-commerce industry.

Read more at Yahoo Finance: Amazon (AMZN) Maintains Lead in US E-Commerce Retail, per JPM