Research and statistics from financial research firm FactSet, in the context of the Covid-19 epidemic raging in the US from last year to this year, has led to a spike in online shopping demand. Specifically, Americans have spent more than 610 billion USD on Amazon in the past 12 months (from June 2020) and 566 billion USD on Walmart’s sales website.
Based on the above data, Amazon has usurped the most successful and most powerful empire in retail history, Walmart. Walmart’s retail model succeeds by minimizing costs, helping to reduce product costs to a minimum while eliminating all competitors. This has helped Walmart since its founding nearly 60 years ago to rise to be the “king” of the world’s retail industry for decades. Walmart’s 2020 sales increased by only $24 billion, while Amazon’s sales are estimated to increase by nearly $200 billion, a huge number.
Despite its strength, Walmart still lost to Amazon because the company took full advantage of the Internet better than any of its competitors. In fact, the fast delivery service plus a wide variety of items that are easy for customers to access, especially during the “season” of Covid, have helped Amazon’s revenue increase day by day. Amazon’s founder, billionaire Jeff Bezos, is also among the world’s richest people for many years.
This event is considered by many financial experts as a “historic moment” because before Amazon for many decades, there was no competitor that could come close, let alone beat Walmart in the sales market. odd.
Wall Street had previously predicted that the “throne” of the retail market would change hands in the next few years, but it is the global pandemic that has accelerated the process as most people stay at home and depend on online shopping. line.
On a global scale, China’s Alibaba Group is the world’s largest retailer. But most of Alibaba’s revenue comes from China’s domestic market, a “own” playing field with a customer base that accounts for one-seventh of the world’s population while Amazon and Walmart are not big names. as well as spend a lot of resources in this market of billions of people.
.
Đọc bài viết bằng Tiếng Việt tại đây
