Executives of Etsy applaud as they open the Nasdaq MarketSite ahead of Etsy's initial public offering in New York, April 16, 2015.With Covid-19 cases soaring around the Black Friday shopping holiday, Jefferies expects online stores to take center stage, with a few companies emerging as big winners.
The Wall Street firm is forecasting a record holiday for e-commerce, with sales growth of 33%, an 18% jump since last year. "We expect a surge in COVID cases to drive strong e-commerce sales this holiday season, with over 50% of consumers planning to spend more online according to our proprietary survey," Jefferies retail analyst Brent Thill told clients.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: