3 Retailers Gaining on Strong E-Commerce Platforms By StockNews

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© Reuters. 3 Retailers Gaining on Strong E-Commerce Platforms

The COVID-19 pandemic has accelerated the pace at which brick-and-mortar retailers are adopting online platforms to compete with the e-commerce giants. Walmart (NYSE:), Target (TGT), and Best Buy (BBY) are cases in point. They are continuing to make improvements to their e-commerce platforms and their stocks are benefiting from this. Read on.The COVID-19 pandemic delivered a severe blow to most retail companies that were focused on solely providing goods and services through their physical retail stores. The fast effects of the public health crisis left many retailers scrambling to effectively serve customers through e-commerce platforms. Digital and Omni channel retailers have shifted more easily, but retailers that prioritized physical stores and face-to-face engagement over Omni channel strategies have struggled to respond to the crisis. However, the shift to online platforms has been driving solid growth in the e-commerce market, which is expected to grow at a CAGR of 22.9% from 2020 to hit $16,215.6 billion by 2027.

Furthermore, as the technology continues to improve and companies employ artificial intelligence (AI) enabled technologies on their platforms or increase the use of AR/VR to attract more consumers, the industry is expected to thrive in the coming quarters. Investors interest in this space is in-part evident in the Amplify Online Retail ETF’s (IBUY) 145.9% returns over the past year, compared to SPDR S&P 500 ETF Trust’s (SPY) 47.6% gains over this period.

Given this favorable backdrop, we think it is wise to buy the shares of established retail companies Walmart Inc. (WMT), Target Corporation (NYSE:), and Best Buy Co., Inc. (NYSE:), which have strong e-commerce platform.

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