William Blair analyst Dylan Carden calls grocery “the next big growth driver” for Amazon (AMZN +2.9%) due to the increased demand from the coronavirus.
Carden says the tech giant is the “biggest looming
threat for the traditional brick-and-mortar grocery industry” and notes
that Amazon’s Prime offers a “clear advantage” with the popularity of
online shopping.
The firm sees Amazon’s grocery tailwind continuing after the pandemic has cleared.
Jefferies says a survey of U.S. consumers showed
that Amazon was the only retailer where they were spending more money
because of the virus.
The firm thinks the virus could lead to more Amazon Prime subscribers.
https://seekingalpha.com/news/3556435-amazon-analysts-praise-coronavirus-tailwinds
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