Chart of the week: the online shopping revolution
Online shopping has come of age. Data from Wells Fargo shows internet retailer Amazon has left US supermarket giant Walmart behind in the sales stakes.
It seems 2008 and 2009, when overall American retail sales fell, "was the moment when we stopped going to the shops and moved online", says Fidelity's Tom Stevenson. The key driver of online retail sales growth has been the advent of the smartphone, he adds.
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