Amazon Passes Walmart As Top US Apparel Retailer

The Hill reports:

Amazon has surpassed Walmart as the top apparel retailer in the U.S, according to an analysis released by Wells Fargo.

Wells Fargo estimated that Amazon’s apparel and footwear sales in the U.S. jumped by 15 percent in 2020, raking in $41 billion in sales, according to a report by CNBC. This placed the tech giant 20 to 25 percent above Walmart.

“This represents highly impressive 11%-12% share of all apparel sold in the U.S. and 34%-35% share of all apparel sold online,” Wells Fargo analysts Ike Boruchow and Tom Nikic wrote. “We now estimate Amazon will surpass $45 billion in apparel/footwear sales in 2021.”

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