| Carvana will become the eighth-largest US retailer by online sales in 2022, speeding ahead of established companies like Best Buy, Costco Wholesale, and Wayfair, according to the latest retail forecast from Insider Intelligence.
The company first joined the Top 10 list in 2021 by meeting consumers' demand for a socially distanced alternative to in-person car dealerships. Carvana also "lowered buyers' risk of purchase by offering a money-back guarantee and a seven-day return policy," said Whitney Birdsall, forecasting analyst at Insider Intelligence.
Additionally, the global semiconductor chip shortage—which has affected new car dealers—has further fueled demand for used cars. As Carvana offers this type of inventory, it's not surprising that the company is poised to make up 22.2% of the entire US auto and parts ecommerce sales this year. | |
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