Wednesday 13th December 2017

    Amazon wants to become Walmart before Walmart becomes Amazon!

    On Tuesday, Amazon announced that it will slash the price of membership to its Prime program by almost 50 percent for low-income shoppers on federal welfare. The move might seem like a unique form of private-sector charity for poor Americans. But it's also a direct challenge to Walmart, the reigning king of American retail, which relies heavily on low-income shoppers and receives nearly one of every five dollars of its revenue through SNAP, or food stamps, each year. Walmart is also expanding its e-commerce business with recent acquisitions like Jet.com and Modcloth. It seems like Amazon wants to become Walmart faster than Walmart can become Amazon! More here