Online Retail ETF Capturing Move Towards Mobile Shopping

The first quarter was a rough one for traditional retailers like Macy's (M) - Get Report and Nordstrom (JWN) - Get Report , partly due to online players like Amazon.com (AMZN) - Get Report stealing market share. Christian Magoon, CEO of Amplify ETFs, said smartphone shopping will never entirely replace the physical experience, but the recent results illustrate that the trend is not reversing. 'Brick-and-mortar retail is broken and the shift is accelerating to online retail,' said Magoon. 'Even Macy's said its online sales is seeing double digit growth, but it's too small a piece of its business.' Magoon launched the Amplify Online Retail ETF (IBUY) - Get Report last month. TheStreet's Gregg Greenberg reports from Wall Street.