As brick-and-mortar retail giants struggle to keep their doors open, the root of their problems may lie with a company that isn’t even competing with them for customers at the mall: Amazon.
Retail giants have recently been feeling the heat of competition from the online retailer, which has recently made an aggressive push into apparel and fashion, the Wall Street Journal reported. In a research note Thursday, analysts from Morgan Stanley estimated that Amazon makes up about 7% of the U.S. apparel market, and that figure will increase to 19% by 2020. They also estimate that the online retailer sells more apparel than all U.S. retailers with the exception of Wal-Mart.
