News

Walmart: We're making inroads against powerhouse Amazon

June 13, 2017

Walmart is beginning to close in on Amazon's territory as top online retailer and its online operations chief attributes the successful strategy, in part, to the acquisition of Jet.com.

"I can tell you we are happy with the moves we're making and we are happy with the results," Marc Lore, Walmart's leader of online operations and c-ofounder of Jet.com, told The Seattle Times.

Lore's confident about greater success ahead, citing a revamped shipping strategy as a key element to Walmart's ecommerce success, as well as the retailer's speed of strategy change and innovative approach. He's also eyeing additional online retail acquisitions to boost weak spots in Walmart's ecommerce foundation.

"We want to sell them everything," Lore told the Seattle Times. "The assortment is growing fast. But we know in certain categories, we need to make more progress."

The report noted Walmart's online sales jumped 63 percent in the first quarter of this year, representing the fourth consecutive quarter of growth. Yet Walmart has more than a few challenges ahead given Amazon owned 33 percent of U.S. online sales in 2016, according to Euromonitor research data.