South Florida Retail Report

can also be part of a last-mile delivery and fulfillment strategy. South Florida is a key region for retailers because the number of consumers and buying power it has. Amazon, the largest e-commerce company, has plans to open several physical retail locations across the country. The locations were expected to be around 30,000 square feet, much smaller than the typical 100,000 square feet for most department stores. Warby Parker, another e-commerce company, also has plans to open 30-35 new physical locations annually.

E-commerce is a major player in the retail landscape and the Pandemic only accelerated online buying trends. E-commerce sales were only 14% of all retail sales in 2020 and the number was expected to grow to 20% over the next 5 years. Physical stores remain a priority for retailers. In fact, several E-commerce companies are opening brick-and- mortar stores to maintain a direct touch point with customers. These standalone touch-points serve as a driver for brand awareness and as a connection to the online marketplace. New physical stores

There was a 31.7% increase in e-commerce sales from 2019 to 2020 , the largest year-over- year (YOY) increase ever recorded.

U.S. E-commerce Sales

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