According to a new report by Cowen & Co released on Monday, Amazon is set to sell $27.77 billion worth of apparel domestically in 2017, possibly dethroning Macy’s as the No. 1 clothing retailer in the states. Such a rosy prediction is likely due to the ecommerce giant’s efforts to woo fashion brands during the last few years. More importantly, it also dovetails nicely with the rise of ecommerce in recent years, projected to top $440 billion by 2017 in revenue, while brick-and-mortar retail continues to decline.
Source: Fortune
