A report has surfaced on the Web claiming that Amazon has surpassed Walmart as the top apparel retailer in the United States in 2020.
That Amazon will soon surpass Walmart in sales of clothing, on which Americans spend more money online, compared to electronics and furniture, analysts have been saying for a long time. Well, since many small stores and malls remained closed for much of 2020, it's no surprise that online sales are on the rise.
And now CNBC, citing the analytical agency Wells Fargo, says that Amazon is 20-25% ahead of Walmart in sales of clothing and footwear. Over the same period, the e-commerce giant managed to reach $41 billion, 11-12% of total clothing sales in the United States. Analysts at Wells Fargo believe that this year Amazon will increase its volume, even more, reaching a figure of $4.5 billion.
Interestingly, the growth in sales at Amazon has contributed to the fact that some fashion brands have stopped selling clothes on its platform. For example, once on the electronic giant's site, it was possible to buy Nike shoes. There was even an agreement between the companies, under which Amazon was to monitor third-party sellers' offerings, preventing them from having counterfeit products. In 2019, however, Nike claimed that the retailer could not honor the deal and removed its products. But because of this, Amazon no longer had to deal with additional oversight, which scared some merchants.
Walmart declined to say anything about Wells Fargo's data, saying it was not involved in commenting on analysts' concerns. Amazon also declined to comment.
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