After a successful foray into the world of brick-and-mortar following the acquisition of Whole Foods Market last year, industry experts believe the e-commerce titan may set its sights on retail giant Target Corp. next.
Loup Venture co-founder Gene Munster, an influential tech analyst, wrote in a recent report that a Target acquisition could be on the horizon within the next year as Amazon continues to compete with market leader Walmart, Bloomberg reports.
Even with a Target takeover, Walmart would still hold the largest share of the market. The acquisition would help Amazon edge closer to its rival and Target's products would blend nicely with the e-commerce giant's current offerings, Munster said. Target markets to a similar demographic and much like Amazon, its products and sales appeal largely to families. The acquisition could also come at a good time for Target, which saw shares fall 10% over the last year. Amazon shares rose an estimated 56% during the same period, Bloomberg reports. This is not the first time analysts have predicted an Amazon acquisition. Lululemon Athletica Inc., Abercrombie & Fitch Co., Bed Bath & Beyond Inc. and even banks have made it onto the list of rumored future buyouts.
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