It was predicted that Walmart
was going to lose nearly $2 billion this year. Analysts could not have been
more wrong. The firm has recently revealed its second-quarter earnings. Reports
demonstrate that it has exceeded expectations and it is set to maintain its
position as one of the world’s largest retailers.
For approximately two decades, the supermarket company has
been competing with Amazon in the online
shopping space. While it was struggling to find a place in the e-commerce
market, the latter has dominated nearly half of this sector in the US. It also
has a huge presence in international waters. However, in recent years, Walmart
has started to evolve. With new strategies in place, it is slowly turning into
the online giant that it can become.
The supermarket company has invested several millions to
reach where it is now. In 2016, it acquired the US online retailer Jet and last
year, it purchase a 77% stake in Flipkart. This is an India-based web
marketplace operator. Moreover, it has doubled its spending on e-commerce
and other innovative technologies since 2014. It currently disburses $5 billion
a year to these parts of its business and it is finally making the most of
these investments. An analyst has advanced that “Walmart.com seems to be changing the
conversation among shoppers”.
Walmart
is slowly becoming an online giant
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