Sadie Keljikian, Stern Corporate Services Group
Walmart is gaining ground in its efforts to remain competitive with Amazon.
Walmart and Amazon continue to compete for market dominance, but experts are saying that neither is going anywhere. As Amazon consistently diversifies its offerings (recently including lending and brick and mortar locations) and innovates the delivery process, Walmart is also leveraging every advantage it’s got.
Although some say (understandably) that Amazon’s hold on the ecommerce market is monopoly-esque, Walmart can actually offer services that Amazon can’t. No longer focusing so closely on direct competition with Amazon, Walmart has been focusing its attention on extensive product variety and availability, improved customer service, and keeping prices as low as possible. The super-store is also partnering with Lord & Taylor on a branded shop slated to launch next spring.
One of the ways Walmart is able to offer prices that even rival Amazon is by offering the option to purchase products online and pick them up in-store, which saves on costly packaging and shipping. Marc Lore, president and CEO of Walmart eCommerce U.S., said “There are lots of cases where it’s just cheaper to sell products out of a store.” Walmart is taking full advantage of its more than 4,700 stores across the US and thus making products as accessible, affordable and varied as possible.
Experts are impressed with Walmart’s ability to continue to redefine its own growth, particularly given how big a corporation it already is and the fact that it is primarily a brick and mortar establishment.
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