E-commerce

Amazon beats out Walmart for top retailer title

Photo by istock.com

March 19, 2021

Amazon has beat Walmart when it comes to the title of No. 1 retailer, according to Wells Fargo.

It gained the title due to the insurgence of online shopping during the COVID-19 pandemic, and Wells Fargo estimates Amazon's U.S. apparel sales spiked 15% in 2020 alone — about 20% to 25% more than Walmart, according to a CNBC report.

Amazon now claims a 30% to 35% share of the online apparel and footwear market, according to Wells Fargo.