E-commerce has seen rapid growth, particularly accelerated by the COVID-19 pandemic. In just 90 days, the industry experienced 10 years of growth, fundamentally altering how consumers shop. While traditional brick-and-mortar stores still account for a significant portion of retail sales, e-commerce's share continues to grow, reaching 19.6% of total retail sales in 2020. The rise of aggregators, particularly in the Fulfillment by Amazon (FBA) market, is driving consolidation, with private equity and venture capital backing many acquisitions. Despite this growth, competition is increasing.

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