A favorite pandemic property bet faces tougher times now that a boom in online shopping is waning, but still offers shelter for long-term investors.
People are taking a breather from online shopping. Amazon.com AMZN 5.37%▲ is the most visible victim, but the vast warehouse ecosystem that has sprouted to serve it could be hit too.
Consumers have gone back to buying goods in stores, which is slowing the blistering growth in e-commerce seen during the pandemic. U.S. sales in brick and mortar shops have grown faster than online purchases for four consecutive quarters, real-estate research house Green Street points out. Several European online-only retailers, including fashion website Zalando and furniture brand Made.com, have issued profit warnings in recent weeks, following a sudden drop in demand.
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