Chase Paymentech Index Indicates Amazon Growth, Piper Jaffray Reports

Indications from multiple sources are that online retail sales growth has decelerated somewhat heading into the peak online shopping days from the pace of sales growth earlier in the holiday season, while larger online retailers continue to take share from smaller online retailers, Piper Jaffray reports. “Online retail sales grew 15% y/y the week ending 12/14 following 24% y/y growth the prior week ending 12/7, according to the Chase Paymentech index,” Piper Jaffray writes. “Meanwhile, comScore reported total eCommerce sales grew 12% y/y the week ending 12/12 and have grown 12% y/y season-to-date (compared to up 3% y/y in 2009).” Piper Jaffray said that the Chase Paymentech Index skews towards larger retailers, including 50 of the top 250 online retailers, indicating share gain by the larger retailers such as Amazon AMZN. Amazon closed Wednesday at $175.57.