Amazon Reportedly Beat Walmart in an Important Category

By Sheridan Fifer

According to a Wells Fargo note, the year 2020 saw a shift in the apparel category. Amazon unseated Walmart as the nation's biggest apparel retailer, with apparel sales reportedly exceeding Walmart's by 20% to 25%. Americans spend a great deal of money online on clothes, much more than on electronics or furniture, and both Amazon and Walmart have stepped up their efforts to capture more of those dollars. Walmart has launched private label clothing brands and partnered with designers in an effort to become a fashion destination. Amazon has taken market share in the category away from rivals such as Macy's. The pandemic didn't hurt Amazon's apparel performance, either. 

Last year's e-commerce boom increased Amazon's apparel and foot ware sales to $41 billion in 2020, representing 11-12% of all clothes sold in the US, according to a Wells Fargo analyst note cited by CNBC.

Read the full story at Business Insider.