We know Amazon is popular. We know each year it gets more popular. But it’s not always clear what that looks like on paper for the rest of the retail industry.
Enter the analysts at Macquarie Research, who did the hard math to lay it out. Macquarie estimates that Amazon accounts for half of all sales growth in U.S. e-commerce, meaning online retailers not named Amazon are battling for around 50 cents of every new $1 spent online. As if that weren’t enough, Amazon also accounts for about a quarter of every new $1 of growth in all of retail, including brick-and-mortar sales, too.
Here’s what it looks like in one little chart. Daunting.
This article originally appeared on Recode.net.