The covid-19 pandemic which led to the temporary closure of many retail operations has certainly impacted the sales revenue of many retailers this past year. This is certainly apparent in a large number of permanent physical store closures since March 2020. In some cases, certain retail chains might have already been headed down that path pre-pandemic and their demise had merely been accelerated in 2020. However, there had already been indications of decreased sales at some brick and mortar stores countered by increases in on-line sales for others.
As we wait for 2020 figures to be fully available and the further impact of the pandemic is revealed. let’s take a look at the mid-year 2020 report from TotalRetail outlining the “100 Fastest-Growing Retailers by Sales, 2018-2019” The #1 top retailer on this list is Chewy.com with a sales increase of over 37%. Chewy.com not only falls into the category of being strictly a Direct-To-Consumer selling model, but also one that focuses on the continually growing category of Pet Food and products. Which according to Petfoodindustry.com has been growing by 53% year-over-year.
Next at No. 2 comes Callaway Golf with a Year-to-Year increase of over 36%. It’s said this is due to the introduction of AI to their golf equipment and investments and in becoming more of an active lifestyle company with various brand acquisitions.
In position No. 3, we’re back to an online e-commerce retailer with the Etsy.com marketplace and an increase of over 35% in sales from 2018 to 2019. An investment in technology to ease transactions for the sellers of handmade, vintage, and custom products.
Wayfair.com, the e-commerce company selling furniture and home goods via five website brands experienced an increase of over 34% bringing it into Fourth (4) place. It is likely these figures would continue to grow from 2019 to 2020 with the tremendous reliance on the need for Work-From-Home due to the COVID-19 pandemic and the demand for home office furnishings and products.
CVS drug store chain is No. 5 with an almost 32% increase in sales. This period of time included the push toward a more consumer-focused health experience with the acquisition of Aetna and an integration of health services into the model and streamlining of prescription services.
Besides those top 5 retailers, others in the list include a mix of multi-channel retailers with Brick and Mortar locations as well as strictly e-commerce.
- Gaiam at No. 6
- Amazon at No. 10
- Hibbett Sports at No. 16
- Ollie’s Bargain Outlet at No. 20
- Ulta Beauty at No., 23
- Sprouts Farmers Market at No. 30
- TJS Cos at No. 35
- O’Reilly Auto Parts at No. 39
- Autozone at No. 45
- Dollar Tree at No. 59
- Container Store at No. 70
- Walmart at No. 75
- Best Buy at No. 78
- Weis Markets at No. 88
It will be interesting to track the progress of all these chains since this report and review how they stood the challenges of 2020.