Retail brands seeking to bypass Amazon (NASDAQ: AMZN) are finding it increasingly difficult to maintain market share, as those embracing the platform tend to outperform competitors.
Amazon Partnerships vs. Direct-to-Consumer Struggles

Estée Lauder, after resisting Amazon for years, finally launched a first-party business in October 2024 following market share losses.
Nike (NYSE: NKE), which pursued a DTC-first strategy since 2018, saw its U.S. footwear market share remain flat through 2022, a disappointing outcome for an industry leader.
In contrast, brands actively working with Amazon, such as L’Oréal, e.l.f. Beauty (NYSE: ELF), Skechers, and Crocs (NASDAQ: CROX), have continued to expand market share.

Retail Growth Outside Amazon Remains Weak

U.S. retail sectors excluding Amazon are growing at a slower pace, making it harder for brands to outpace industry trends without a presence on the platform.
MoffettNathanson analysts emphasize that “all roads lead to Amazon for retail”, stating that fighting against Amazon’s dominance is an “insurmountable lift” for most brands.
The firm maintains a “Buy” rating on Amazon with a price target of $258.

Financial Insights on Retail Performance
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