- Some retailers benefited from the boom in sales and e-commerce amid the coronavirus pandemic, according to tomorrow’s AFR Rich List.
- Ruslan Kogan, founder and CEO of Kogan, saw his net wealth rise to $575 million, putting him back on the Rich List after falling off last year’s edition.
- Retail baron Gerry Harvey saw his wealth surge by 35% to $2.57 billion.
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When the ship steadies from the coronavirus pandemic and we start returning to some semblance of normality, retail is one of the sectors which will change permanently.
The advent of lockdowns and social distancing saw Australians accelerate a long trend toward e-commerce and online retail. According to research by Deloitte, Australia enjoyed a $4 billion e-commerce boom during the pandemic, with online small businesses seeing a boon from the country’s supercharged online spending habits.
Of course, it’s not the small business strivers who end up emblazoned on …