The market capitalization of retail companies jumped 35% between February 2020 and April 2021, according to an analysis by consulting firm McKinsey. This increase, however, has not been even across all subsectors. While pure-play e-commerce retailers saw their market cap rise by 48% (without Amazon, which saw its market cap rise by 62%), food-focused retailers saw their market cap fall by 1%. This reflects the changes in consumer spending during the pandemic, with apparel and footwear retailers posting declines in sales while home improvement and décor stores saw their sales rise. Here's a fact: this year Amazon surpassed Walmart in sales, with $610 billion (in the twelve months ending June 2021) versus $566 billion (in the twelve months ending July 2021), respectively, according to FacSet data cited by The New York Times.