Walmart is stealing Amazon's thunder
Walmart (NYSE:WMT), the world’s largest brick-and-mortar retailer, and the champion of ‘everyday low prices’ is now offering Amazon (NASDAQ:AMZN), the ecommerce behemoth, a run for its money.
While Amazon has been disrupting the retail sector by offering consumers the ability to order a variety of goods at competitive prices and with quick shipping to their doorsteps, prices at Walmart.com are now only 0.3% more expensive than Amazon.com on average, according to a study by Market Track.
A Walmart spokesperson told Fox Business that, “Walmart has always operated efficiently to offer low prices. We’ve also built sophisticated tools to manage online pricing. What’s probably most exciting is that customers can now also see store prices online and choose to save more than any top online site by picking up in a store.”
Walmart’s share of e-commerce sales is expected to grow to 3.6% in 2017, up from 2.8% in 2016, according to eMarketer. Amazon is expected to rake in 43.5% of ecommerce sales, including third party sales through Amazon’s marketplace.
The Market Track survey analyzed prices of 213 products in 11 categories over a period of 700 days ending Nov. 7.
