Retail market share in 2026 is moving toward the companies that can deliver online at scale, and the Census Bureau's data and the latest company results agree on who they are. E-commerce sales reached $340.2 billion in the second quarter of 2026, up 12.2% from a year earlier, while total retail sales grew 6.7% to $1,986.5 billion, lifting the online share to a record 17.1% [1]. Amazon (AMZN) grew North America sales 16% to $116.2 billion, Walmart (WMT) grew US e-commerce 24%, and Target (TGT) grew comparable sales 3.8%, as of August 20, 2026 [3][4][5]. This note uses the Census figures as the benchmark and shows which retailers are growing faster than the market.
What the Census data says about retail market share in 2026
The Census Bureau's quarterly e-commerce report, released August 18, 2026, is the cleanest measure of channel share. Seasonally adjusted e-commerce sales rose 3.8% from the first quarter to $340.2 billion, the strongest quarterly gain in the five quarters covered, and 12.2% from the second quarter of 2025 [1]. Total retail sales rose 2.9% from the first quarter and 6.7% from a year earlier to $1,986.5 billion [1]. E-commerce accounted for 17.1% of total sales, up from 17.0% in the first quarter and 16.3% a year earlier [1]. Online growth of 12.2% against total growth of 6.7% means physical stores grew roughly 5.6%, so both channels are expanding but online is taking share at about one percentage point a year.
The monthly data show the same nominal strength with some softening in July. Advance retail and food services sales for July 2026 were $763.6 billion, down 0.6% from June but up 5.0% from July 2025, and sales for May through July were 6.3% above the same period a year earlier [2]. A retailer growing sales at 5% in mid-2026 is holding share; one growing faster is gaining it.
| Benchmark or company | Period | Sales growth | Online growth |
|---|---|---|---|
| Census total retail sales | Q2 2026 | +6.7% | +12.2% e-commerce [1] |
| Amazon North America segment | Q2 2026 | +16% | Not separately reported [3] |
| Walmart total revenue | Quarter ended July 31, 2026 | +5.9% | +24% Walmart US e-commerce [4] |
| Target net sales | Q2 2026 | +5.3% | +8.7% digital comparable sales [5] |
Amazon is growing at more than twice the market rate
Amazon's second-quarter results, released July 30, 2026, show net sales up 20% to $200.6 billion [3]. The retail-relevant number is the North America segment, where sales rose 16% to $116.2 billion and operating income rose to $9.1 billion from $7.5 billion a year earlier; the International segment grew 15% to $42.2 billion [3]. Against Census total retail growth of 6.7% and e-commerce growth of 12.2%, Amazon's domestic retail business is gaining share within the online channel as well as against stores [1][3].
The cloud business remains the profit engine: Amazon Web Services grew 37% to $42.2 billion with operating income of $16.6 billion, and total operating income rose 43% to $27.5 billion [3]. Reported net income of $62.6 billion included a $53.4 billion gain on the company's investment in Anthropic, so it overstates operating performance [3]. Third-quarter guidance calls for net sales of $197.0 billion to $202.0 billion, growth of 9% to 12% [3].
Walmart and Target: stores plus delivery
Walmart: e-commerce up 24%, advertising up 38%
Walmart's results for the quarter ended July 31, 2026, released August 20, show total revenue up 5.9% to $187.9 billion, or 5.1% in constant currency, roughly in line with the market [4]. The share gains are inside the mix. Walmart US comparable sales rose 2.6% excluding fuel, led by transactions, while Walmart US e-commerce rose 24% and global e-commerce 23% on store-fulfilled pickup and delivery [4]. Global advertising grew 38% and membership income 17%, with record second-quarter Walmart Plus additions [4]. Operating income rose 28.8% to $9.4 billion and adjusted earnings per share were $0.81, helped by a 96 basis point gross margin expansion that came mainly from tariff refunds [4]. Walmart raised full-year guidance to constant currency net sales growth of 4.0% to 5.0% and adjusted earnings per share of $2.80 to $2.87 [4].
Target: traffic returns, tariff refunds lift earnings
Target's second quarter, released August 19, shows net sales up 5.3% to $26.5 billion and comparable sales up 3.8%, driven by a 3.6% increase in comparable traffic [5]. Store comparable sales rose 2.7% and digital comparable sales 8.7%, with same-day delivery up more than 25% [5]. Operating income of $2.6 billion, a 9.6% margin, and earnings per share of $4.11 both included $994 million of tariff refunds worth $1.65 per share [5]. Excluding the refund, the underlying operating margin is closer to the roughly 6% the company guides to for the full year, alongside sales growth of around 5% and earnings per share of $9.90 to $10.90 [5].
- Gaining share: Amazon North America (+16%) and Walmart e-commerce (+24%) [3][4].
- Holding share: Walmart total (+5.9%) and Target (+5.3%) against a 6.7% market [1][4][5].
- Channel shift: e-commerce at 17.1% of retail, up 0.8 points in a year [1].
What investors may take from the numbers
DataPorium's sector data shows NASDAQ consumer cyclical stocks down 0.87% on average and consumer defensive stocks down 0.95% on September 4, 2026, a reminder that the market is discriminating among retailers rather than buying the group [6]. Investors can compare retailers by growth, margin and valuation on DataPorium's stock market pages.
The retailers gaining share in 2026 are the ones that turned stores into delivery nodes and added advertising and membership revenue, while the Census data shows the total market growing a healthy 6.7% for everyone else to fight over.
The broader economic point is that consumer spending remains the engine of the expansion, with retail sales growing 5% to 7% in nominal terms through mid-2026 [1][2]. The tariff refunds that boosted Walmart's and Target's second-quarter results are one-time items and, on the counterpoint side, a reminder that trade policy costs were borne first by retailers and their customers before being returned. Lower and more predictable trade costs would let competition, not refunds, drive margins in 2027.
Key takeaways
- Census data show Q2 2026 e-commerce sales up 12.2% to $340.2 billion and total retail up 6.7%, with online share at a record 17.1% [1].
- Amazon's North America segment grew 16% to $116.2 billion, more than twice the market rate [3].
- Walmart's US e-commerce grew 24% and advertising 38%, and it raised full-year sales and EPS guidance [4].
- Target's comparable sales rose 3.8% on higher traffic, with $994 million of tariff refunds adding $1.65 to EPS [5].
- July 2026 retail and food services sales were $763.6 billion, up 5.0% from a year earlier [2].
Frequently asked questions
What percentage of retail sales are online in 2026?
E-commerce was 17.1% of total US retail sales in the second quarter of 2026 on a seasonally adjusted basis, up from 16.3% a year earlier, according to the Census Bureau [1].
Is Amazon still gaining market share in 2026?
Yes. Amazon's North America sales grew 16% in the second quarter of 2026, compared with 6.7% growth for total US retail and 12.2% for e-commerce overall [1][3].
How fast is Walmart's online business growing?
Walmart US e-commerce grew 24% and global e-commerce 23% in the quarter ended July 31, 2026, while total company revenue grew 5.9% [4].
Did Target's sales improve in 2026?
Second-quarter net sales rose 5.3% and comparable sales 3.8%, driven by a 3.6% increase in traffic, with digital comparable sales up 8.7% [5].
Sources & References
- [1] U.S. Census Bureau, Quarterly Retail E-Commerce Sales, 2nd Quarter 2026 (released August 18, 2026)
- [2] U.S. Census Bureau, Advance Monthly Sales for Retail and Food Services, July 2026 (released August 14, 2026)
- [3] Amazon.com Announces Second Quarter Results, Exhibit 99.1 (SEC EDGAR, July 30, 2026)
- [4] Walmart Q2 FY27 Earnings Release, Exhibit 99.1 (SEC EDGAR, August 20, 2026)
- [5] Target Corporation Reports Second Quarter Earnings, Exhibit 99 (SEC EDGAR, August 19, 2026)
- [6] DataPorium Stock Market: sector performance data
