Big Boxes Accounted for 29.1% of Retail Sales in Q2
New York, NY, August 25, 2020-Walmart, Amazon, Target, Home Depot, Lowe’s and Costco accounted for 29.1% of all U.S. retail sales in Q2, according to Craig Johnson, president of consulting firm Customer Growth Partners, and reported by the Wall Street Journal in an article called “Big-Box Stores, Worried About Amazon, Were Ready for Coronavirus.”
This is a 25.6% year over year increase.
The article further extrapolates on why some retailers have been winners in the Coronavirus pandemic,
“Several factors tie their success together. These big companies had already invested to build their online businesses and had cash on hand to adjust to the pandemic. They were selling what people were buying and had large supply networks they could tap to eventually restock. In addition, most were deemed essential retailers early in the pandemic and thus have largely remained open.”