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Thursday, 18 March 2021 08:29

Amazon becomes US’ top apparel retailer: CNBC

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As per CNBC reports, Amazon has surpassed Walmart to become US’ top apparel retailer.

In 2020, Amazan sold around $41 billion apparels and footwears, representing 11-12 per cent of all clothes sold in the US, says a Wells Fargo analyst.

Amazon’s apparel sales during the year increased by 20 per cent than that of Walmart, and the online retailer is expected to sell over $45 billion worth of apparels and footwears this year.

Amazon posted its highest e-commerce growth in three years during the COVID-19 pandemic, when many Americans avoided shopping indoors. The company's web services generated huge growth last year as well due to companies transitioning to work-from-home models.

On the other hand, Walmart has introduced new clothing brands and partnered with fashion designers in recent years to boost sales. The retailer recently added a whole selection of sports apparel, and partnered with a fashion designer who dressed Michelle Obama.