Government Shutdowns Of “Nonessential” Retailers Were A Huge Gift For Amazon, Walmart, And Target
When stay-at-home orders due to the Covid-19 pandemic forced many US brick-and-mortar retailers to close up shop late winter and into this spring, some industry observers feared the government measures would widen the existing gap between the retail industry’s haves and have-nots. A few months later, that fear has become reality. Amazon, Walmart, and Target all recently reported record sales or profits metrics for their second quarters ending in June or July, as government-mandated store closures gave consumers fewer options for brick-and-mortar shopping and more consumers moved their spending online. Big grocery chains as well as home-improvement giants like Home Depot and Lowe’s that were deemed essential have also fared well. Read more at Recode.
