Amazon owns the online retail market so much that competing with it, at least for newer players, requires doing something very different from the online leader.
eBay, for example, in its heyday used an auction model, creating the possibility that consumers could “win” an item for less than traditional commerce.
Traditional brick and mortar chains have competed with Amazon by capitalizing on their stores. It helps Best Buy sell appliances and electronics because people can see what they’re buying in a brick-and-mortar store, but have it delivered to them with all the convenience of an all-digital retailer.
Another Amazon rival, FlexShopper, has tried to make electronics, appliances, computers, furniture and more affordable for everyone. FlexShopper and seven affiliates filed for Chapter 11 bankruptcy in Delaware on Dec. 22, 2025, reporting minimal assets and liabilities, according to MarketScreener.
However, as you can see, the top five online retailers are all giant brands that have a brick-and-mortar presence, with Amazon being the only exception.
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Amazon.com, 143.7 billion dollars in US online sales: Amazon leads the US e-commerce market by a wide margin.
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Walmart.com, 79.2 billion dollars in US e-commerce revenue: Walmart is clearly in second place.
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Apple.comestimate41-42 billion dollars in online sales: Apple’s online sales rank among the top sites in the US (higher than Target by many estimates, but the company doesn’t break out those numbers in its earnings reports).
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HomeDepot.com, 22.5 billion dollars in US e-commerce revenue: Home Depot rounds out the top five.
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Target.com: 20.5 billion dollars in US e-commerce sales
“Amazon’s US e-commerce share tops 40%, outpacing smaller online retailers, according to Bernstein analysts, Investing.com reported.
“Amazon’s ability to grow absolute sales faster than its biggest rivals comes from the fact that it’s no longer just a retail company. In fact, it makes more profit from its cloud computing and advertising businesses than it does from retail,” wrote The Motley Fool’s Adam Levy.
Amazon can actually afford to lose money on a sale because of its other businesses, according to Citi Research.
“We believe Amazon is intentionally selling goods to consumers at a loss,” Citi Research analyst Jason Bazinet wrote in a note. “But it uses dual-purpose infrastructure (servers, delivery centers, web traffic) to profitably sell services to businesses.”
This makes it difficult for any retailer to compete with Amazon, but FlexShopper has tried to win over customers by building its business around a consumer-friendly payment model.
FlexShopper uses a lease-to-own business model.
“Leasing with FlexShopper lets you get the products you love—like furniture, electronics, and appliances—without paying full price up front. Take your item home today and make affordable weekly or monthly payments; once the plan is up, you can keep it. Or pay it off in 90 days for the advertised cash price, with no commitment hidden on its website.
Traditionally, rent-to-own or rent-to-own models have used markup prices, so consumers pay much more over time than if they were purchasing from a traditional store. FlexShopper undertakes not to mark down items.
More bankruptcy:
“If you pay off your lease within 90 days, you will be required to pay only the cash price stated in your lease without incurring any rental charges,” it said.
In some cases, customers only want to use the item for a period of time, and it can be returned at the end of the lease.
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FlexShopper, Inc. and seven affiliates filed voluntary requests for reorganization under Chapter 11 in US Bankruptcy Court (District of Delaware) on December 22, 2025.
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The listed company assets and liabilities each between $0.01 million and $0.05 millionindicating the remaining extremely limited financial resources.
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A Chapter 11 filing means FlexShopper is trying to restructures its debts and continues its activity (rather than liquidating assets under Chapter 7).
Source: MarketScreener -
Legal advisor: Represented by Robert J. Dehney of Morris, Nichols, Arsht & Tunnell.
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Financial advisors:
• GlassRatner Advisory & Capital Group, LLC – financial consultancy
• Two Roads Advisors LLC – the investment bank
• Epiq Corporate Restructuring, LLC – complaints services and administrative agent -
FlexShopper previously had faced Nasdaq compliance struggles because of multiple late financial deposits (10-K and 10-Qs) and it was cannot meet SEC filing deadlinestriggering notices of deficiencies and a the erasure processaccording to Seeking Alpha.
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The company received a extension from Nasdaq to mid-2025 to regain compliance, but still failed to submit the required reports by the deadline, resulting in suspension/removal actionsInvesting.com reported.
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Throughout 2025, FlexShopper has been experimenting driving departures and executive restructuring, including board and officer resignations amid financial stress and reporting issues, according to Ad Hoc News.
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The firm also resisted defaults on the credit agreement and forbearance changes with creditorsindicating deep financial pressure before bankruptcy, AInvest reported.
FlexShopper received a notice on October 14, 2025 from the Listing Qualifications Department of the Nasdaq Stock Exchange informing the Company that it has initiated a process to delist the Company’s common stock from Nasdaq, according to Nasdaq.com.
“According to Nasdaq’s notice, the delisting is a result of the Company’s failure to file its Annual Report on Form 10-K for the period ended December 31, 2024, its Quarterly Report on Form 10-Q for the period ended March 31, 2025, and its Quarterly Report on Form 10-Q for the period ended June 25 and October 25, 2025, with the Stock Exchange. 13, 2025, the final deadline for filing delinquent reports pursuant to Nasdaq Listing Rule 5250(c)(1),” the company said in a press release.
The company filed a formal notification with the SEC delisting in November.
Related: Walmart Makes Bold Holiday Promise to Customers
This story was originally published by TheStreet on December 22, 2025, where it first appeared in the Retail section. Add TheStreet as a favorite source by clicking here.