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Report: Amazon surpasses Walmart in customer spending, becomes world's largest retailer outside China

August 19, 2021
Source: 98online.com 98online.com
News Snapshot:
Amazon has surpassed Walmart for the title of world’s largest retailer outside China, according to a report from The New York Times. The report is based on data compiled by the financial research firm FactSet. Amazon took in more than $610 billion over the past 12 months while Walmart took in $566 billion. Analysts credit an increased reliance on e-commerce during the pandemic for Amazon’s success. Sears took the title of “world’s largest retailer” from A&P in the 1960s. Walmart took it from Sears in the 1990s. Alibaba, the giant online Chinese retailer, is the world’s top seller. Neither Amazon...
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Tags: Alibaba | Amazon | China | Chinese | credit | customer | data | e-commerce | finance | financial | Giant | IT | New York | online | online shopping | Pandemic | Reliance | report | research | retail | retailer | Walmart

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