The e-commerce boom is here to stay.
With recent events, many more people are now shopping strictly online.
In fact, analysts at Baird say demand for online shopping could create a “$200 billion annual tailwind” and could represent a major, permanent shift in consumer behavior.
Wedbush analysts also argue the pandemic had created big behavioral shifts in consumer behavior, adding many consumers won’t go back to physical store shopping as they did before. “The retail landscape will look dramatically different in the coming years.”
Better, the Department of Commerce just reported that retail eCommerce sales for the second quarter, came in at $200.7 billion, up 37 percent sequentially, from the first quarter of the year, as reported by PYMNTS.com.
“That jump comes at total retail sales were $1.3 trillion, down 3.4 percent year on year. Online sales, then, stood at 15.1 percent of the total tally, and the overall decrease (in aggregated sales) comes as, of course, the lingering impacts of lockdown and staggered re-openings continued.”
Those numbers are only likely to increase going forward. Not only with the pandemic, but as more consumers opt to shop online out of convenience.
Of course, one of the top stocks to consider with the boom is Amazon.com (AMZN), which has now rocketed from a low of $1,626.03 to a recent high of $3,302.
Other top stocks to keep an eye on include:
- Shopify Inc. (SHOP), which currently trades at $1,020 a share, and could run to $1,200, near-term. All as it offers e-commerce platforms for small to mid-size businesses, many of which are just now starting to move online.
- Baozun (BZUN), which is considered the “Shopify of China” as it provides site creation tools and support services to launch and scale online retail operations.
- Etsy Inc. (ETSY), which is now up to $131 a share. Just weeks ago, the company posted a five-fold increase in earnings. It earned $96.4 million, or 75 cents a share, up from 14 cents a share year over year. Revenue was up 137% to $429 million. Analysts were only looking for 39 cents on sales of $330 million.