A new report by Cowen reveals that Amazon is set to be the top retailer in 2017, reports Business Insider. The ecommerce company is estimated to bring in $27 billion, which is enough to take the top spot from Macy's.
According to the report, the retailer has been thriving specifically in the accessories department, selling mostly handbags and jewelry. Amazon has recently brought attention to it's growing fashion segment by sponsoring the inaugural New York Fashion Week: Men's and cementing new partnerships with brands like Tommy Hilfiger, Gucci, and Levi's.
Amazon will also offer 343,000 items on it's website, which is thousands more than stores like Target and Nordstrom, making it hard for anyone to compete.