Alibaba overtakes Wal-Mart as world's biggest retailer

© Minipig5188

It has happened. Alibaba, Jack Ma’s Chinese e-commerce site, has become the world’s biggest retailer, leaving Wal-Mart in its wake. Not just significant because a Chinese retailer has overtaken a US one, but also because online has overtaken offline. It was a fairly close run thing though, Alibaba still had 10 days of trading left to announce. Its year ends March 31, but by March 21, gross merchandise volumes were more than $475.89bn, compared with Wal-Mart’s $482.1bn in revenue in its year ...