Yesterday, Walmart, the retail giant of the United States, reported its quarterly earnings, which quickly became a hot topic in the US retail industry. Walmart reported a total revenue of $180.554 billion, a 4.1% increase from the same period the previous year. This number was compared to the latest quarterly earnings of Amazon, an online retail giant, with a total revenue of $187.792 billion, marking the first time in history that Amazon’s revenue exceeded Walmart’s.
However, it is worth noting that these numbers do not immediately indicate online surpassing offline, as Amazon also generates a significant portion of its revenue from its cloud service AWS ($29 billion), while Walmart is not purely a brick-and-mortar retailer anymore, continuously expanding its online presence.
The competitive strategies and growth drivers for both Walmart and Amazon are strikingly similar at the moment, including increasing revenue from advertising business and developing membership systems. Walmart has Walmart+ while Amazon boasts Amazon Prime.
Source: CNBC
TLDR: Walmart and Amazon are in a neck-and-neck competition with similar growth strategies, such as increasing revenue from advertising and developing membership systems like Walmart+ and Amazon Prime.
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