Retail giant Walmart, which perfected the business model of driving down costs to dominate the market, has been surpassed by e-commerce leader Amazon, which just became the largest retail seller outside of China. Driven by a surge in online shopping during the global COVID-19 pandemic, Amazon raked in $610+ billion over the year ending in June, according to FactSet. Walmart just posted sales of $566 billion for the year ending in July. Both are eclipsed by Chinese online retailer Alibaba, the world’s top seller. Continue reading Amazon Bests Walmart as Top Retail Seller Outside of China

In the next year, Walmart may invest $3 billion in India-based, Amazon rival Flipkart by purchasing new shares at the same price as the purchase transaction, according to a filing with the Securities and Exchange Commission. The all-cash deal is groundbreaking as the world’s largest e-commerce transaction, in which Walmart will buy $2 billion new shares and a stake worth $14 billion from Flipkart investors. Amazon, meanwhile, has invested $2 billion in June 2014 and $3 billion in June 2016 in India. Continue reading The Roadmap for Walmart’s Purchase, Planned IPO of Flipkart

In August, Walmart purchased Jet.com for $3.3 billion in cash and stock, a vote of confidence that the e-commerce startup’s founder/chief executive Marc Lore understood the way that Walmart could successfully compete with Amazon. Lore believes that Walmart should focus on product areas that are newly popular online, including clothing, fresh food and everyday essentials found in the drugstore. Shortly after acquisition, Lore and his management team took over Walmart’s domestic e-commerce operations, including 15,000 employees. Continue reading Walmart Pushes into E-Commerce, Now Offers 40M Products