Online Sales Exploded In 2020 – But Mostly For Retail Giants
Online sales skyrocketed in 2020–but mostly for the largest retailers and well-known brands. That’s according to a report on the top 500 retailers in North America, released Tuesday by Digital Commerce 360, a Chicago-based research and media firm. The Top 500, measured by the prior year’s online sales, generated a combined $849.5 billion worldwide in 2020, a 45.3 percent increase from the previous year. That was the largest year-over-year jump in growth rate since Digital Commerce 360 started the report in 2006. The spoils of 2020’s e-commerce boom disproportionately went to the large, well-established brands like Amazon, Walmart, and Target that make up the top 500. While online sales increased for businesses of all sizes, the report found that “strong 2020 growth enabled the Top 500 to take market share from their smaller competitors in North America.” Read more at Inc.
