Walmart Making Moves Against Amazon
October 21, 2016
In response to consumer attitudes becoming increasingly enthusiastic towards online shopping, Walmart (WMT -.41%) has begun to adapt its strategy accordingly and has plans to take on Amazon head on (AMZN -1.17%) in the next year. Walmart has seen a consecutive eight quarters of consistent sales growth in recent years, has just finalized its acquisition of online retailer Jett.com, and now moves to implement an 11-billion-dollar plan to help the company make the transition to ultimately look more like an e-commerce company, according to CEO Doug McMillon. Although at present Walmart’s online presence is only a fraction that of Amazon, McMillon expects online sales to increase 20-30% this year alone. Walmart will open 55 stores in 2017, compared to 155 in 2015, and 133 stores this year.
