The internet was already quickly transforming commerce before 2020. But the pandemic did a number on the old way of buying and selling things. E-commerce became an essential part of life, and the trend looks far from spent. To that end, Target (NYSE: TGT), Farfetch (NYSE: FTCH), and Redfin (NASDAQ: RDFN) look like solid stocks to buy right now as 2021 gets under way.
This big-box store has cracked the digital retail conundrum and has been booming in the last year. Total revenue at Target increased 19% year over year through the first nine months of its 2020 fiscal year, and earnings per share increased 25%, as investments the company made in recent years started to pay off. Whereas e-commerce used to represent a drag on Target’s bottom line, it is turning into a serious tailwind.