Canada and Mexico get cosy with trade plan to bypass US
Canada and Mexico are closing in on a scheme to bypass the US to reduce ...
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By Alex Lennane
If you ever wanted to fully understand the difference between Walmart and Amazon – which turns out to be vast – you should read this article on recode. Sources told the author Walmart is expecting a $1bn+ loss for its US e-commerce division this year, despite revenue of $21-$22bn. Its jet.com acquisition is said to be struggling and, while Amazon accounts for some 38% of the online retail market in the US, Walmart is on just 4.7%. It’s causing internal problems.
“E-commerce in the US is becoming a “winner take all” industry. Or, at a minimum, a “winner take most” market,” notes the article. And for Walmart – which has 20 fulfilment centres in the US, to Amazon’s 110 – catch-up is a cash issue. But Wall Street is favouring the e-tailer.
Well worth a read.
Comment on this article
Russ Wood
July 04, 2019 at 8:11 am1 Billion loss is ok.. as long as it’s Uber