Source: EMARKETER Forecast, May 2025 - June 2025
Note: represents the gross value of products or services sold on amazon.com (browser or app), regardless of the method of payment or fulfillment; excludes travel and event tickets, Amazon Web Services (AWS) sales, advertising services, and credit card agreements; includes direct and marketplace sales
Additional Note: The “limited tariffs” scenario assumes that US tariffs apply only to select trading partners. The “moderate tariffs” scenario assumes that US economic growth slows, but the downturn is limited due to partial tariff relief brought by trade negotiations with other countries. The “heavy tariffs” scenario assumes that broad US tariffs spark a global recession, leading to inflation, retaliation from other countries, and weakened business and consumer sentiment.
Methodology: Estimates are based on the analysis of data from other research firms and government agencies, historical trends, reported and estimated revenues of major online retailers, consumer online buying trends, and macro-level economic conditions.