2020 saw an online shopping inflection point that is poised to continue, as logistics companies successfully scaled on-demand delivery. Sales for categories like apparel, footwear, and linens had already been moving online in recent years, but digital sales went through the roof in 2020. Morgan Stanley estimates that e-commerce grew by about 40%, or $240 billion. Rapid growth in e-commerce is expected to continue in 2021, as traditional brick-and-mortar retailers feel persistent profit margin pressure.*
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