It was bound to happen sooner than later: Amazon has surpassed Walmart as the biggest retailer on the planet Global2000
' 2019 Global 2000 list. It was bound to happen sooner than later: Amazon has surpassed Walmart as the biggest retailer on the planet.' Global 2000 list of the world’s biggest public companies, as measured by a composite score of revenues, profits, assets and market value. That was sufficient enough for it to steal the title of the world's largest retailer away from Walmart, which slipped five spots to #29 on this year's overall list.
Amazon Prime topping 100 million in 2019. The company has beefed up the benefits attached to its annual membership in an effort to make it a must-have in every household, such as offering special discounts at Whole Foods, investing heavily in television and movies and expanding free shipping. In April, Amazon said it would invest $800 million to make free one-day shipping the new normal, up from the standard two-day shipping the company offers now.
Amazon has been catching up on other measures, too. Last year, the company made a record-breaking $10 billion in profits, fueled by its lucrative cloud computing business. That is up sharply from $3 billion the year before and easily tops the $6.7 billion that fell to Walmart's bottom line. Behind Amazon and Walmart, the third-largest retailer on the planet is Chinese e-commerce giant Alibaba. Its core business is selling goods via the internet, but it has also invested heavily in areas like entertainment, logistics and payments. Sales grew 51% to $56 billion in fiscal 2019, driven by the spending of its 654 million active retail customers.
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