Holiday reports confirm the fear: Amazon is eating away at department stores

Seeking Alpha's financial analysts say that the recent rally by investors that has pushed up Amazon's share price is justified based on a number of reports showing how Amazon "dominated the 2016 holiday spending season." According to the analysts, non-store retail sales growth had slowed from 2010 until 2015 but the 2016 holiday season marked a resurgence with the year-over-year growth rate jumping back up to 13 percent.