E-commerce grew 20% for Costco in fiscal 2015—20 times faster than store sales.
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Davis says it will take time to educate Chinese consumers to shop at a brand site like Cn.Puma.com, but the results from last year’s 11/11 shopping holiday convinced him it’s time to invest in a brand site in China. “This is going to be something,” he says. “If we can figure out how this is going to work from the consumer perspective this is going to be massive.”