Why Levi’s Is Opening 100 New Stores Even As Pandemic Online Sales Boom Keeps Growing
Shoppers are doing more and more purchasing online amid the pandemic, and that has both companies and investors trying to best mix e-commerce and the traditional retail store business moving forward. In 2008, e-commerce sales made up just 3.6% of total retail sales in the U.S., according to data from eMarketer. Amazon saw its business grow tenfold in the 2010s, Walmart further established its online platform, new entrants like Wayfair emerged and almost every retail brand ensured it had a digital presence, as e-commerce boomed. By 2020, online sales made up 14% of total retail sales. The Covid-19 pandemic sped that growth up even more, with e-commerce sales now expected to make up 15.3% of total retail sales by the end of this year, according to eMarketer. That is not expected to slow down — that figure is predicted to increase to 23.5% of total sales by 2025. Read more at CNBC.
