Amazon Defeated The ‘retail King’ Walmart

Amazon officially surpassed Walmart to become the world's largest retailer (not counting China) .0: 00/1: 48 namamazon defeated Walmart empire. (Photo: NYT) According to Financial Research FactSet, due to the skyrocketing demand in Covid-19, everyone has spent more than 610 billion USD on Amazon in the past 12 months (as of June). Meanwhile, in 12 months (as of July), Walmart's sales are 566 billion USD. On the global range, China's Alibaba is the largest retailer in the world

. Amazon and Walmart are not big players in China. With this achievement, Amazon has lost one of the most successful and most powerful companies in history. Walmart's retail model limits maximum costs, resulting in reduced prices and destroys all competitors
However, with all his strength and effectiveness, Walmart still lost to Amazon, the company takes advantage of the Internet better than anyone. In fact, fast delivery service and rich items have attracted customers and make them shopping many unprecedented. Amazon also takes a founder of Jeff Bezos into one of the richest people in the world.Juozas Kaziukenas, founder of Marketplace Pulse research firm, commenting here is a historic moment. "Walmart already existed for a long time and Amazon appeared with a completely different model, replacing them in the first place." Wall has predicted that the retail market will be changed in the next few years. But the disease speeds up this process when people are at home and depend on online shopping. Walmart sales also increased rapidly during the Covid-19 but did not keep up with Amazon. From the beginning of 2020, Amazon added hundreds of warehouses and recruited about half a million workers. Walmart, their 2020 sales increased by 24 billion USD
In the same period, the total value of commodity people who buy on Amazon are estimated to increase nearly 200 billion USD. LAM (according to NYT)

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