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Amazon Unveils Charts in Canada, Boosts Book Retail Presence
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Amazon (AMZN - Free Report) is firing on all cylinders to gain momentum in the world of books on the back of its huge amount of collected data on customers reading habits.
Recently, the e-commerce giant has rolled out Amazon Charts in Canada which lists the bestselling books across Kindle, Audible and Amazon Book stores on a weekly basis.
Amazon Charts strives to cater to the habit of reading books among the Canadians by aiding them find a good book. It intends to fulfill that with the help of reviews from readers, ranking of books, social proof and entertaining facts regarding a book listed in its “The Top 20 Most Read” and “The Top 20 Most Sold” sections.
We believe that these abovementioned factors will help the company bolster its customer base. This in turn will aid sales growth of its print books, audio books and e-books, consequently driving the company’s top-line.
Coming to the price performance, shares of Amazon have returned 70.2% on a year-to-date basis, outperforming the industry’s rally of 32%.
Countering the Threat of Walmart
With the latest move, Amazon gains a competitive edge against the retail giant, Walmart (WMT - Free Report) in the book retail space.
Walmart also sells e-books and audiobooks on its Canadian website, in addition to its huge portfolio of printed books.
However, Amazon Charts in Canada is likely to give a tough competition to Walmart’s position in Canada’s books market with the help of its fun insights and detailed book reviews as well as ratings.
Notably, Amazon’s rich collection of books and aggressive retail strategies will aid its market position in Canada.
According to a report from Technavio, revenues in the global consumer book publishing market are expected to hit $67 billion by 2021.
This proves that the global book market is booming. Per a report from Grand View Research, this market is projected to reach $124.2 billion by 2025.
Consequently, Amazon is well poised to reap benefits from this growing book market with its increasing number of physical book stores. Currently, the company operates 15 brick-and-mortar book stores in total.
Additionally, today’s fast-paced world is also witnessing the emergence of e-books and audiobooks.
Per the latest report from Statista, the global e-book market is anticipated to generate $11.9 billion revenues in 2018. Further, revenues are anticipated to witness a CAGR of 3.3% between 2018 and 2022 and to reach $13.5 billion by 2022.
We believe Amazon is capable enough to cater to the rising demand for e-books worldwide with the help of its Kindle devices.
Further, Audible’s growing portfolio of books will continue to aid the company’s position in the audiobook space.
All these endeavors will help Amazon to strengthen its footprint in the book retail market.
Long-term earnings growth for Match Group and Garmin is currently pegged at 12.5% and 7.35%, respectively.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
Amazon Unveils Charts in Canada, Boosts Book Retail Presence
Amazon (AMZN - Free Report) is firing on all cylinders to gain momentum in the world of books on the back of its huge amount of collected data on customers reading habits.
Recently, the e-commerce giant has rolled out Amazon Charts in Canada which lists the bestselling books across Kindle, Audible and Amazon Book stores on a weekly basis.
Amazon Charts strives to cater to the habit of reading books among the Canadians by aiding them find a good book. It intends to fulfill that with the help of reviews from readers, ranking of books, social proof and entertaining facts regarding a book listed in its “The Top 20 Most Read” and “The Top 20 Most Sold” sections.
We believe that these abovementioned factors will help the company bolster its customer base. This in turn will aid sales growth of its print books, audio books and e-books, consequently driving the company’s top-line.
Coming to the price performance, shares of Amazon have returned 70.2% on a year-to-date basis, outperforming the industry’s rally of 32%.
Countering the Threat of Walmart
With the latest move, Amazon gains a competitive edge against the retail giant, Walmart (WMT - Free Report) in the book retail space.
Walmart also sells e-books and audiobooks on its Canadian website, in addition to its huge portfolio of printed books.
However, Amazon Charts in Canada is likely to give a tough competition to Walmart’s position in Canada’s books market with the help of its fun insights and detailed book reviews as well as ratings.
Notably, Amazon’s rich collection of books and aggressive retail strategies will aid its market position in Canada.
Amazon.com, Inc. Revenue (TTM)
Amazon.com, Inc. Revenue (TTM) | Amazon.com, Inc. Quote
Growing Focus on Book Retailing
According to a report from Technavio, revenues in the global consumer book publishing market are expected to hit $67 billion by 2021.
This proves that the global book market is booming. Per a report from Grand View Research, this market is projected to reach $124.2 billion by 2025.
Consequently, Amazon is well poised to reap benefits from this growing book market with its increasing number of physical book stores. Currently, the company operates 15 brick-and-mortar book stores in total.
Additionally, today’s fast-paced world is also witnessing the emergence of e-books and audiobooks.
Per the latest report from Statista, the global e-book market is anticipated to generate $11.9 billion revenues in 2018. Further, revenues are anticipated to witness a CAGR of 3.3% between 2018 and 2022 and to reach $13.5 billion by 2022.
We believe Amazon is capable enough to cater to the rising demand for e-books worldwide with the help of its Kindle devices.
Further, Audible’s growing portfolio of books will continue to aid the company’s position in the audiobook space.
All these endeavors will help Amazon to strengthen its footprint in the book retail market.
Zacks Rank & Other Stocks to Consider
Currently, Amazon carries a Zacks Rank #2 (Buy).
Some better-ranked stocks that can be considered in the broader technology sector are Match Group (MTCH - Free Report) and Garmin (GRMN - Free Report) . Both the stocks carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth for Match Group and Garmin is currently pegged at 12.5% and 7.35%, respectively.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>