Executives of Etsy applaud as they open the Nasdaq MarketSite ahead of Etsy’s initial public offering in New York, April 16, 2015.
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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.