The top five best sellers are no longer considered top sellers, and they’re no longer as popular as they were when they first started selling.
A study released Tuesday by retail consultancy Zacks suggests that sales of the top sellers are dropping and that the gap between them and the rest of the market is widening.
While the top-selling items still have strong fundamentals, they’ve fallen behind the pack in terms of market share.
“These sellers are getting squeezed,” said Daniel Vachon, a senior analyst at Zacks.
“It’s not just a few sellers, it’s the entire pack.”
Among the top 10 sellers, six of them are gone, including Macy’s and the Gap.
The rest of their sales have fallen to a new low.
The Gap and a number of other brands have seen their market share plummet, and a group of major retailers are seeing their stock prices fall.
Macy’s, which has a market value of $26 billion, lost 3% of its value in the past 12 months.
Walmart, which had a market cap of $47 billion, had a $1.8 billion loss in the same period.
Meanwhile, Zacks analyst Jodi K. Zivkovic said the gap among the top 50 sellers is shrinking.
“The top sellers in the pack have gotten to a point where they’ve been overtaken by the pack,” she said.
“This has happened over time.
The pack was not the leader.”
The Gap is still the top seller, with an average of 2.5 million sales per month.
The average sales per unit for the top five is $2,800, but sales have declined in the last two months.
Macy, which made headlines earlier this year for the purchase of Kmart for $1 billion, is still second at 2.7 million.
Zacks predicts that the Gap will lose its top spot by 2019.
Macy has been in the top three for the past seven months.
The biggest losers are department stores, which have been falling behind Amazon and Apple.
The decline of department stores has been fueled by consumers moving to online shopping and the rise of e-commerce.
“We are seeing a significant decline in sales in the retail space, and it is happening at a faster pace than we anticipated,” Zivkovics said.
Walgreens, which makes the popular Hand & Wash hand soap, is also a casualty of the trend.
It saw its sales fall to an average price of $1,300 per unit in the 12 months through March, down nearly 7% from the previous year.
The group’s stock is down about 11% from its $47.6 billion valuation in March, but it has a strong position in the supply chain.
The loss of its top seller is the biggest since 2013, when Zivksi said Walgens had lost nearly 50% of sales.
Walmarts’ shares have also dropped significantly in the year.
Its share price has dropped from a peak of $75.65 in April to a low of $17.25 today.
Walmart has about 3 million stores, including its flagship Supercenter, which it bought in the 1990s for $3.4 billion.
Zikovics said that Walmart has the potential to surpass Amazon as the top retailer, but its future is far from certain.
“Walmart is not going anywhere,” she told The Washington Times.
“But the way that Walmart is looking at it, there are more ways to go.
They don’t have the infrastructure to scale out to the mass market.”