Tuesday, August 9, 2016

Walmart Takes on Amazon

Competition is heating up in the world of e-commerce. Walmart announced Monday that it will be acquiring the e-commerce site Jet.com for a whopping $3.3 billion as it aggressively moves to take on Amazon’s recent dominance in the online space. Though Walmart is a leader in brick-and-mortar retail sales, online sales for the company only accounted for 3% of its total revenue last year. An acquisition like this is necessary if Walmart is ever going to challenge Amazon. [more...]