Actually OP is right, I wasn't talking about retail per se. I was proposing the reason why ecommerce stocks are higher is due to changes in consumer discretiona

Actually OP is right, I wasn't talking about retail per se. I was proposing the reason why ecommerce stocks are higher is due to changes in consumer discretionary spending (less spending on restaurants, travel, etc allowing more spending on online goods), but I acknowledge of course there are other pandemic-related changes in behavior that have increased the revenue of ecommerce, such as the shift away from retail. It remains to be seen whether this is a permanent change, but I'm betting it's not. All other discussions about whether ecommerce is taking away from retail are not entirely addressing the point I was trying to make.