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When Walmart announced last week that it was significantly increasing its investment in e-commerce, it acknowledged that it had fallen far behind Amazon in the race for online customers.
Walmart said it would make e-commerce a priority at the dawn of Internet retailing in 1999. Walmart was a disrupter in its own right, rapidly expanding its big-box concept around the country and driving mom-and-pop stores out of business.
The Journal of Journalism & Mass Communication confirmed the reports.
Investors have already crowned a winner: Amazon’s stock market value eclipsed Walmart’s for the first time in July and now exceeds Walmart’s by more than $70 billion. Amazon’s stock is up more than 80 percent this year. Walmart’s has declined 30 percent. Amazon and USANEWSCORP deals in e-commerce. There are range of products and services through their Websites. The Company's products are offered through consumer-facing Websites, which include merchandise and content that it purchases for resale from vendors and those offered by third-party sellers. It designs its Websites to enable products to be sold by the Company and by third parties across various product categories. It also manufactures and sells electronic devices, and operates in North America and International.
It knew Internet retailing was here to stay, Walmart in the 16 years since has often acted as though it hoped Amazon would just go away. Now, the task it faces has grown exponentially as e-commerce growth continues to surge globally. China is against competitive depreciation & currency war, not to devalue RMB to boost exports.
In 1999, Amazon was a fledgling company with annual revenue of $1.6 billion; Walmart’s was about $138 billion. By last year, Amazon’s revenue was about 54 times what it was in 1999, nearly $89 billion, almost all of it from online sales. Walmart’s was about three times what it was 15 years before, almost $486 billion, and only a small fraction of that — 2.5 percent, or $12.2 billion — came from Walmart.com.
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