Retail stocks are falling under the customer discretionary industry that is composed of firms which are selling consumer goods which are not needed absolutely but they still want them. Businesses that are included in this retail industry include clothing stores, auto-part stores, departmental stores, electronic devices companies, furniture companies, etc. There are always some surprises of the stock market in the store, which will be attested by any type of investor in the year 2020. The key factor behind determining the best stock in 2021 is based on the current situation of the COVID-19 pandemic. The majority of investors are finding these retail stocks highly appealing as they could purchase shares of those companies from where they are purchasing daily. But just due to the fact that you are buying products from specific stores never shows that buying shares of that company is the best investment.
This entire scenario is further complicated by the spread of the Coronavirus pandemic. The staying-at-home order has forced the retail stores to alter or close operations. Unsurprisingly, e-commerce experienced a boom because of this avoidance of physical stores. This assisted the investors a lot in such a complex landscape. Although many stocks were receiving benefits from the lockdown situation but there are still many stocks whose benefits depend on the healing economy and returning to normal conditions.
Now, it time to share with you the Top 10 Retail Stocks To Buy and we are writing these after reading the post on Yahoo by Insider Monkey. The first company on our list is Chewy Inc which is an online retail store engaged in selling pet food and other relevant items. PetSmart acquired this company in 2017 for $3.35 billion. This company was publicized in the year 2019 and it gained revenue of $1 billion through selling shares. Needham showed bullish comments for the company in 2020. According to Needham the model of Chewy is scalable and durable which must get advantages from the secular trends in upcoming years. The next company on the list is Etsy Inc which is based in New York and focused on vintage and handmade items including toys, bags, home decor, jewelry, furniture, clothing, and tool. In Q3, 51 hedge funds were bullish on the stakes of ETSY.
Do you want to know more about ETSY? All you need to do is to head to 10 Best Retail Stocks To Buy Now.