How COVID Impacted Amazon And All Online Shopping
Mike (Mish) Shedlock | Nov 18, 2020 01:16AM ET
Online shopping surged at the start of the COVID pandemic and still remains far above the previous trend.
COVID gave a boost to online shopping.
The lead chart excludes things one does not normally buy online like restaurants, gasoline, grocery stores, and autos.
While one can purchase a car online, it is picked up at the dealer and a dealer books the sale.
Of the remaining retail sales, nonstore retailers account for 31% of all retail sales.
h2 Retail Sales Trends 1992-Present/h2COVID did not change the trend towards online shopping but it did accelerate the trend, and there is no going back.
h2 Amazon Black Friday Week/h2Amazon (NASDAQ:AMZN) Black Friday Week starts Friday, Nov.20. You can ask “Alexa, what are my deals?” Amazon says tens of thousands of deals are coming.
Every online retailer will have to do the same to compete.
h2 Department Stores Clobbered/h2Online sales pressure department stores more and more. Most will struggle to survive.
Congress is still bickering over a COVID package so a lot more pain is in store for those who don't have a job or are about to lose one.
The trend towards online shopping will accelerate.
More layoffs in the hospitality and restaurant sector are coming. Mom and pop retail stores won't make it. And more malls will die.
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