E-commerce was on fire in 2020 with many stocks in the industry increasing by triple-digit percentages. With effects from the pandemic ongoing and unlikely to disappear anytime soon, shopping on the web could be in for another big year in 2021.
But one area that underperformed in the last year was apparel, especially brick-and-mortar clothing and department stores. Stuck at home, consumers were in need of far fewer threads than before.
Things could start to improve for this beatdown area of retail in the next year, however, and Stitch Fix ( NASDAQ:SFIX ) should be one of the top ways to ride the rebound.
A gem among so many stones Barring a massive revision to the upside, retail sales for apparel and accessories are going to end 2020 down nearly 30% year over year according to the U.S. Census Bureau — even worse than the nearly 20% drop in sales for the also-beleaguered restaurant sector.
Remote work and a new self-employment trend are altering consumer behavior in this shopping category, and it’s unclear when and how clothing sales will make a comeback. Nevertheless, Stitch Fix’s data-driven shopping experience is a standout in an otherwise ugly […]