E-Commerce Sales Surged 78% in May: These 3 Stocks Could Be the Biggest Winners
The COVID-19 pandemic has had a profound impact on the way people live their lives. One of the most obvious changes is that it has accelerated our shift toward e-commerce, as many of us chose to forego in-person shopping at retail stores in order to lower our chances of contracting the coronavirus.
That's a natural caution, but even in light of that, the size of the boost this trend has gotten has been staggering. In April and May alone, the amount of money spent on online purchases exceeded the amount shoppers spent online during the entire 2019 holiday shopping season, according to a recent report by Adobe Analytics. The May 2020 Digital Economy Index, which tracks the state of e-commerce, found that consumers spent over $153 billion online during those two months, 7% more than in November and December 2019. Spending in May alone surged 78% year over year.
This points to further gains for companies leading the online revolution. Here are three that will most likely benefit.
Source Fool.com
