NEW YORK (TheStreet) -- (AMZN) dominated Cyber Monday last year with over 36% of all online sales coming via the e-commerce giant. This year, Amazon will look to benefit from an estimated 122 million people that are expected to shop on Cyber Monday, according to the National Retail Federation. 

Amazon "will do about 2% of their total sales today, and about seven billion units this year, so it's almost one for every person in the world," Piper Jaffray senior research analyst Gene Munster said on CNBC's "Squawk Box" Monday morning.

Cyber Monday illustrates the market share Amazon is taking from traditional retailers, Munster noted. "They are going to grow twice as fast as traditional online. They are going to grow about six times faster than traditional retail," he said.

Looking beyond Cyber Monday, Munster believes Amazon tightening its grip on traditional retailers will prove more significant for the online giant in the long run. "I think traditional retail longer term is in a very bad place," Munster contended. "Amazon is building an infrastructure that is going to be difficult to defeat."

( is held in the Growth Seeker portfolio. See all of the holdings with a free trial).

Shares of Amazon were down nearly 4% in pre-market trading. 

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.

The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, robust revenue growth, expanding profit margins and good cash flow from operations.

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