Wed. Dec 12th, 2018

Amazon and Walmart have been battling for retail dominance for 15 years — and there’s no end in sight (WMT, AMZN)

Amazon and Walmart have been battling for retail dominance for 15 years — and there’s no end in sight (WMT, AMZN)

  • Walmart has been worried about Amazon for years, and it has forced Walmart to make some major changes to its e-commerce strategy.
  • Those changes have included introducing two-day shipping and improved grocery delivery options.
  • Here’s how Walmart has evolved to keep up with Amazon.

Walmart has been worried about Amazon for over a decade, according to former Walmart board member John Chambers. In 2003, Amazon was eight years old and was just starting to turn a profit. Still, Walmart was worried about the growing online retailer.

This is something that I know. I saw Amazon coming at Walmart,” Chambers told Business Insider’s Julie Bort

To keep up with the rapidly growing Amazon, Walmart has had to make a lot of changes to its business, from introducing two-day shipping and grocery delivery to spending more than $3 billion on its acquisition of Jet.com. 

Here are all of the ways Walmart has evolved to keep up with Amazon:

SEE ALSO: We walked around Long Island City, the New York neighborhood where Amazon is reportedly planning to bring HQ2, and saw why it’d be appealing to the e-commerce giant

Walmart.com was initially launched in 2000.

Source: Walmart

Amazon had been founded five years earlier, in 1995, as a website that sold books.

Source: Business Insider

In 2003, Amazon was eight years old and was just starting to turn a profit. Walmart had nearly $245 billion in sales in 2003. Its $8 billion in profit was more than all of Amazon’s sales that year. Still, Walmart was worried about the disruptive online retailer’s potential.

Source: Business Insider

See the rest of the story at Business Insider

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