Walmart has been king of retail for more than three decades, as the world’s largest company by revenue. By the end of the year, however, Wall Street expects its crown to have been stolen by Amazon.
Joe Feldman, retail analyst at Telsey Advisory Group, said: “On the retail side… I think they both want to get better at the areas that they’re younger or smaller in. I do believe Amazon wants to have a better physical retail format to offer groceries. At the same time, I know Walmart is really leaning in on modernisation of IT infrastructure, supply chain infrastructure and leveraging new technology — AI and machine learning and computer vision — to drive faster, more efficient operations, which is something Amazon already does well.”
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