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Wells Fargo predicts that Amazon will be the No. 1 seller of apparel in the U.S. in 2018, raising its price target on the eCommerce giant on Monday (September 10).
Amazon’s apparel and footwear gross sales are expected to top $30 billion this year, beating out longtime incumbent Walmart for the top spot, wrote Wells Fargo analyst Ike Boruchow, according to CNBC.
“Amazon dominates the online market for apparel and footwear (35 percent of share, or four times the No. 2 player) and they even have remarkably high market share in the total apparel/footwear market
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