WMT, AMZN: Walmart Wallops Amazon in Online Sales

Retail giant is on a mission to catch up to AMZN's online dominance

   

WMT, AMZN: Walmart Wallops Amazon in Online Sales

Walmart (WMT) has scored a big win over rival Amazon (AMZN): The retail giant’s worldwide online sales gained 30% last year, while Amazon saw 20% online growth.

Walmart185 WMT, AMZN: Walmart Wallops Amazon in Online SalesThe Wall Street Journal reports that Amazon “still surpasses its rival with online sales in electronics, media and other products with $67.8 billion, six times higher than Wal-Mart’s.”

Global Internet sales at Wal-Mart Stores rose by 30% to $10 billion during the year ended Jan. 31, surpassing Amazon.com Inc.’s 20% sales growth during the year ended Dec. 31, according to data from trade publication Internet Retailer.

Amazon still dwarfs Wal-Mart’s Web sales in scale. Amazon’s online sales of $67.8 billion of electronics, media and other products last year are more than six times bigger than Wal-Mart’s.

Walmart is continuing to buy e-commerce sites as a way to compete with Amazon — and remains steadfast in its goal to beat the online retailer.

It’s expected purchase of Adchemy, a search-engine marketing company will marks Walmart’s 12th e-commerce buy in some three years.

WMT is down .5% in early morning trading. AMZN stock is down 1.6%.

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Article printed from InvestorPlace Media, http://investorplace.com/2014/05/wmt-amzn-walmart-wallops-amazon-online-sales/.

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