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Online sales stay elevated as pandemic shopping habits stick around

  • E-commerce growth for the week ended August 1 rose 71% Y/Y, per aggregated Bank of America credit and debit card data. The mark is consistent with the Q3 growth being seen in the prior few weeks.
  • Excluding grocery and restaurant spending, e-commerce sales were up 59% for the week ended August 1 vs. the peak of +75% for the week ended May 23.
  • Electronics e-commerce growth was up 101% for the latest week and sporting goods products saw a 94% jump. Best Buy (NYSE:BBY) and Dick's Sporting Goods (NYSE:DKS) are both part of that action.
  • Online penetration of total retail sales hasn't fallen that far off the peak, per BofA's chart below.
  • Related stocks: Amazon (NASDAQ:AMZN), Wayfair (NYSE:W), Shopify (NYSE:SHOP), Etsy (NASDAQ:ETSY), Overstock.com, Farfetch (NYSE:FTCH) and Chewy (NYSE:CHWY), eBay (NASDAQ:EBAY), Fiverr (NYSE:FVRR), Carvana (NYSE:CVNA) and Blue Apron (NYSE:APRN)

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Comments (69)

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Story has it that Morgan Stanley and Renaissance Technologies are dumping CHWY shares. This may trigger major selloff in CHWY shares. Watch out for it..
Tall Seller profile picture
Fasten your seatbelts Shopify LONGS. Shopify airs their new TV show on the Discovery Channel this week, on August 18th, called I Quit, seen here:

👉🏻 news.shopify.com/...

👉🏻 m.youtube.com/...

This inspiring show will further build brand recognition for Shopify, to further cement them as the de facto B2B and D2C omnichannel e-commerce provider, and accelerate the tidal wave of new merchants coming on to their platform. Check out the PARABOLIC trajectory of the TOP merchants sites growth on Shopify:👇🏻



kuldipsingh profile picture
SHOP will be north of 1500 in the first week of Oct 2020 will hit 1900 + Jan 2021. Snooze you lose. Buy and sell option pick up 20% PREMIUM
Based on what?

Shopify is already valued 6x entire TAM which is beyond absurd. :)
Tall Seller profile picture

Shopify is the BEST in the world COMBINED B2B and D2C omnichannel e-commerce provider and that market was $29TRILLION in 2017 (seen here: unctad.org/... ), which probably puts it today closer to $40TRILLION...AND GROWING!

WHO do you think is better poised in the B2B and D2C omnichannel niche to win businesses new to B2B and D2C omnichannel e-commerce, as that market grows by $TRILLIONS/year in GMV?


Shopify, that’s who!!
Tall Seller profile picture

Thursday (tomorrow) at 10:00am EST, Shopify is hosting a Town Hall, where Shopify’s Chief Technology Officer is due to present:

👉🏻 meetups.shopify.com/...

I’ll be TUNING IN to see if they announce anything new or give any insights into anything accretive to Shopify’s growth.

In a recent Town Hall, Shopify’s Chief Operating Officer mentioned that the 2,000,000 employees of Shopify’s 3rd party partners generated $6.9BILLION in revenue in 2019 servicing Shopify merchants (at the 4:24 mark here: https://youtu.be/NmVRdw4Zsg8 ), so there are interesting tidbits to be heard.

OR, I’ll be the first to let you know what exciting things may be revealed Thursday at 10:00am EST.
Tall Seller profile picture
This is probably an easier link to watch the town hall on, as it does not require registering:

👉🏻 https://youtu.be/JhxIFipk1_k
Tall Seller profile picture

96% of TipRanks Analysts rate Shopify as a BUY AND HOLD, seen here:

👉🏻 www.tipranks.com/...
GameBuzz profile picture
@Tall Seller I clicked on the link and it listed 9 buys, 15 holds and 1 sell. Is that the same one you intended to link to? (I actually prefer it to 99% buys because A) it suggests that everyone who may want it does not yet own it and B) there's more room for upgrades.)
Tall Seller profile picture

YES! That equates to NINETY-SIX% rate Shopify BUY AND HOLD.

GameBuzz profile picture
I gotcha. I misunderstood the "hold" part, LOL. Lots of room for upgrades.
Amazon still growing. On the other hand Shopify's growth collapsed in May/June and massive churn wave is incoming. Big merchants win over small ones. Nothing new under the Sun.
Tall Seller profile picture

ALL e-commerce for BEST PLAYERS, like Shopify and amazon, is due to SURGE into year end. 

Amazon the expect year end to SURGE beyond their capacity and Amazons top performing cohort of merchants is 3rd party integrators (aka Shopify merchants, at 26% growth last year and make up around 60% of their sales.

And UPS and Fedex hiked surcharges for their expected end of SURGE in e-commerce for big online sellers, which actually means individual businesses like Shopify merchants won’t qualify for the added surcharge and there make MORE SALES.

BUY AND HOLD for me.
Gary J is Rich on AMZN profile picture
@Tall Seller

Gee I wonder why so many questioned Amazon's delivery network build out all the way through to the last mile? It's about to pay off big time.
Tall Seller profile picture
@Gary J

Ya, and Shopify is the ONLY omnichannel e-commerce provider with a Fulfilment Network where it’s about to pay off majorly for them too.

And, Amazon’s 3rd party integrators (aka Shopify merchants) are Amazon’s fastest growing cohort and where Amazon’s majority of sales comes from.

Shopify WINS both ways.
I‘ve found a reference period. It is called the great nordic war plague outbreak around 1710. it most likely didn‘t hit the new world, so it is especially important to study the events, because there is no knowledge baked into common sense thinking.
Panic Button profile picture
Need Amazon managers the check the Amazon Whole Foods logistics/lead-time. The 2 (or 3) hours delivery is turning in 5 hours. Maybe that's a nice problem being busy with lots of customers!
the rocket stopped rocketing
Gary J is Rich on AMZN profile picture
huh? I get richer year after year on AMZN. try to keep up
Alexander the Great II profile picture
@Gary J ,

AMZN is not the future, it is NOW. And this "Pandemic" will be around for another 20 years.

After 9/11 the world changed in which security became paramount, as well as going after terrorists. Military spending increased and defense contractors gained for years to come. Now with the pandemic, people are learning how great it is to shop online. I am getting there myself. No longer will buy certain items in the store period.

Hand soap thru Amazon is cheaper than Wal-mart. Foot powder ( for my stinky feet ) cheaper thru Amazon. And printer cartridges.....$8 for an HP 17A compatible vs minimum $60 at Microcenter. And Microcenter does not sell the compatible print cartridges only the "re-manufactured" HP 17A ( if they got them in stock). Shaving heads for my Norelco razor, $25 at the Phillips website vs. $8 for a compatible at Amazon. And the Amazon products are just as high quality as the "real" thing. So much cheaper, same quality, and to purchase them at other retailers, you have to order online too, but at the higher cost.

I am sure you are getting richer on AMZN, I am buying on AMZN on a regular basis. And they do provide good service. AMZN truck drivers are respectful of parking in my neighborhood vs Postal drivers who are total.....never mind.

All levels Bezos is running a top notch organization.

Might consider buying stock, since I buy so much from them anyway.
Gary J is Rich on AMZN profile picture
@Alexander the Great II

Not sure about that. Vaccines and treatments will be developed.
Tall Seller profile picture
Shopify is the only real omnichannel game in town.

UPS today said they expect e-commerce to SURGE in the second half of the year and just added holiday surcharges. Thats a MASSIVE buy and hold signal for Shopify for me.

Be honest, you want to say that SHOP is the only game in town.
Be honest, you want to say that SHOP is the only game in town...it ain't.

What is an omnichannel? How can I get one? Is it expensive?
Tall Seller profile picture

Here are some of the channels Shopify merchants can integrate to for sales, marketing, and more....

- amazon

- google products

- Facebook

- Instagram

- Pinterest

- Snapchat

- Kik

- Wish

- Bonanza

- Fruugo

- Catch

- Tophatter

- Rakuten

- Sophie

- Sears

- Newegg

- Jet

- Reverb

- Xero


- PowerBuy

- Buy Button

- Ddiscount

- MyDeal

- Wanelo

- Messenger

- GOTit

- Jioukuo

- linkr

- Lyst

- Apple chat

- Microsoft products

- Best Buy

- Walmart

- TikTok

- JD

- TMall

- wechat

- Etsy

- Bing

- eBay

- Houzz

- buzzfeed

- some video games


This explains how POWERFUL Shopify’s omnichannel e-commerce solutions are for businesses....


👉🏻 www.shopify.com/...

mschratter profile picture
How did this company and stock price develop immunity to reality? Why are retail investors buying at these hyper-inflated levels while insiders sell? LOL

The burst in furniture spending reminds me of the Bush tax handout of 500 dollars a while back that everyone spent on flat screen tv's because they all went on sale... because there were actually cargo ships full of them that were old models that they needed to move. This is a short term survival nesting move and to think that it will be 'sticky' is delusional. See 'Do Androids Dream of Electric Sheep'...amazing psychology taking place, fighting a viral pandemic with a couch purchase.

The one-time help from Coronavirus in Q2 is over, so Wayfair will see a massive deceleration in Q3 and Q4. Wayfair will report losses in Q3 and Q4 due to these reasons:

- Due to the recent child trafficking issue, the magnitude of the negative impact on the company remains to be seen.

- The brick-and-mortar stores have re-opened since late May with discounts up to 70%.

- Amazon (AMZN) has returned to normalcy since June.

- Many brick-and-mortar stores have strengthened significantly their online presence due to Coronavirus.

- Wayfair's total operating expenses that hit a record at $1 billion (!) in Q2 will remain at about $1 billion in Q3 and Q4 primarily due to the fierce competition from the brick-and-mortar stores and AMZN that have returned to normalcy since June.

- The $600 weekly unemployment benefit is over.

- And with billions of convertible notes and stock options, Wayfair real market cap is approximately $40B already. Don't get mislead by current EPS.

Wayfair stock sits above even the most outlandish bullish price predictions. Meanwhile, I am building a sizable short position.
Gary J is Rich on AMZN profile picture

"How did this company and stock price develop immunity to reality? "

Because it trades on growth prospects. /skipped the rest
@mschratter learn what moves markets when
Gary J is Rich on AMZN profile picture
@Richmeister00720304050 hey that's trademarked. 😁
"Excluding grocery and restaurant spending" - I think there could be more info circulating about food handling/safety during Covid 19. Informing people that at certain temperature, prepared cooked food has less risk/exposure to Covid 19.

"Normal cooking temperatures for foods will kill COVID-19 and other microbes in food. As with other microbes our advice is to always use a thermometer to check that the internal temperature of the food has reached 74°C."


More news about death tolls THAN news about how businesses/individuals can do things differently to sustain the economy.
AMAZON has been 'sticky' before the pandemic and will remain so even after we have a vaccine. The go to choice!
@Up and Away - yes! Yes!! Get all your drugs, er, I mean GOODS from the great Amazon king. Just set up direct deposit with the company and have everything you shall need delivered straight to your door!!
Gary J is Rich on AMZN profile picture
@Iron Eagle

I know I do. Except with the Amazon Prime Chase Visa - 5% off.
More importantly, why are people still supporting a child trafficking company. Too many sick people in this world. Wake up sheep
Gary J is Rich on AMZN profile picture
"E-commerce growth for the week ended August 1 rose 71%"

That's a spicy meatball.

Amazon getting most of that. 💲💲💲
@Gary J I'm here for comments like this
@dls5051 - really? Have you been living in a cave for a while?? While Gary spouts everything and all things of the imperial Amazon, his comment should not be surprising to anyone. Oh, it’s your first comment and you came on here looking for investment advice! Well, SA land has plenty of that to offer but watch where you step as there are some land mines on here.
Gary J is Rich on AMZN profile picture
@Iron Eagle

count the Likes
captaindividend profile picture
Hardly surprising whilst the pandemic sticks around.
Oh, so the online sales seem to be down QoQ. Unfortunately SHOP is priced for at least 25 % QoQ growth every quarter for next decade.
It won’t last unless stimulus is renewed quickly.
@prof126. Why should ANYONE get taxpayer money of $15 per hour OVER what they make on unemployment? This has got to stop.
@WMX213 any specific reason why? Its already had sucha huge run. You think its still a buy?
@Robertpower420 So many people in America care more about their pets than human beings. Plus, the convenience. It's a screaming buy.
mschratter profile picture


Related Stocks

SymbolLast Price% Chg
Amazon.com, Inc.
Wayfair Inc.
Shopify Inc.
Best Buy Co., Inc.
DICK'S Sporting Goods, Inc.
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