The retail industry is about to undergo a dramatic change as Amazon, which has long held a strong position in market capitalisation, is poised to surpass Walmart in revenue.
Walmart has been the largest revenue producer every quarter for more than ten years; in 2012, despite volatile oil prices, it even overtook Exxon Mobil.
Walmart, on the other hand, is scheduled to reveal its numbers on February 20 and anticipates $180 billion in sales.
This possible milestone demonstrates shifting consumer preferences towards online buying over traditional brick-and-mortar stores and highlights Amazon’s expanding power in the retail industry.
Source (CNBC)
