For the first time since the early ’90s, the international retail market has changed its leader. U.S. grocery giant Walmart has lost sales to online retailer Amazon. The statistics cover all countries except for the Chinese market: in the Celestial Empire, the leadership belongs to Alibaba Group.
The New York Times writes that Walmart retains leadership in the U.S. domestic market, but only through 2022, and on this indicator, Amazon may break into first place.
According to research company FactSet, sales at Amazon have reached the $610 billion mark over the past twelve months. Walmart’s following financial statement shows $566 billion.
Experts note that Amazon’s rise to first place in retail, which Walmart has historically held, results from the rapidly growing popularity of online shopping and delivery services. Nevertheless, market participants are calling this moment historic.
Walmart saw another $24 billion increase in sales over the past fiscal year, but still not enough to maintain its lead. By comparison, Amazon’s revenue, according to unofficial data, for the twelve months increased by another 200 billion.
