The e-commerce penetration rate is only 16.3%, which indicates there is still huge potential in this market.

Interesting data: In Q2 2025, the global retail online sales accounted for only 16.3%, in other words, 83.7% of transactions are still offline. What does this mean? The e-commerce sector is far from saturated.

The current question is who can take a bite out of this incremental cake. In the U.S. market, a certain e-commerce giant has already captured nearly 40% of the online market share, while competitors don't even have double digits. Why is the gap so large? Three reasons:

**First, Brand + Logistics Moat**. When it comes to online shopping, the user's first reaction is that brand. The delivery vehicles all over the streets are also live advertisements.

**Second, the fulfillment network is unbeatable**. Distribution centers spread across the United States + a large delivery fleet support same-day delivery or even delivery within a few hours. This experience cannot be replicated by others.

**Third, strong user stickiness**. The lock-in effect brought by over 200 million members subscriptions makes it difficult for competitors to pry them away.

What's even more aggressive is that this company is expanding into new sectors - fresh same-day delivery has covered over 2300 cities in the United States, and used car trading has also launched. As consumers continue to migrate online, these new businesses are all growth opportunities.

With the addition of cloud computing services (29% market share globally) and AI applications (already testing robot delivery and automated sorting), there is still a lot of room for cost optimization.

Conclusion: The e-commerce penetration rate still has a ceiling of 83%, and this company has already occupied the optimal position. From a long-term perspective, this position is difficult to shake.