These Are The Big Winners As Retail’s Online Transformation Accelerates, Says Bank Of America

Bank of America expects a handful of stocks to particularly benefit as online shopping’s invasion accelerates to all parts of the retail industry during Covid-19. “We believe that COVID-19 will result in a 4-5 year pull forward in online penetration of the global apparel and grocery market,” Bank of America research analyst Ashley Wallace said in a note titled “From bricks to clicks.” The coronavirus pandemic has accelerated certain shopping trends in the retail and grocery space. During the nationwide lockdown, millions of Americans signed up for online or curbside grocery shopping and ordered household items from e-commerce companies. Bank of America expects these habits to solidify and create momentum in the internet shopping space. Read more at CNBC.