In the second quarter of 2020, the public spent more than $211.5 billion on e-commerce as many shifted to online shopping in response to the nationwide shutdowns. In the “Retail Roundup – Pandemic Edition” issue of Western Real Estate Business, Partner Victor Sahn provided his outlook on how the industry is responding to COVID-19 and what the future may hold for brick-and-mortar retail, especially as Amazon continues to dominate the e-commerce landscape.
“Amazon enjoyed year-over-year revenue growth of 28 percent for the second quarter of 2020,” said Sahn. “I suggest that for the third quarter, their year-over-year revenue growth will be considerably higher than that. There is likely a close correlation between Amazon’s revenue growth and the corresponding decline in brick-and-mortar sales. COVID-19 has supercharged that trend.”
Western Real Estate Business covers the latest news, developments, and trends in commercial real estate for individuals and businesses involved in the Western real estate market.
Read Sahn’s full commentary here.