Retailers do not need to fear Amazon taking “over everything” as there are limits, according to a leading economist.
Daniel Lacalle, chief economist at Tressis Gestion, told CNBC on Thursday that "what will likely stop Amazon in terms of market perception will be reality".
He added that: "I think that Amazon is also delivering, but what you cannot expect is this sort of global takeover, that Amazon will destroy every single sector because people are getting smart and I think that that is a positive.”
Amazon stock closed up about 1% yesterday at $1,482.92, after hitting $1,503.49 a share, the highest level since the e-commerce company's initial public offering in 1997, according to FactSet.
Amazon shares are up 74% for the past year. This has been largely driven by excitement about its competitive advantages and its ever-growing push into new categories.
The retail giant took up 44% of all US online retail sales in 2017 — and 4% of America's total retail sales — according to data released by One Click Retail last month.
Amazon's stock is currently trading up 0.7% at $1,493.50.