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Amazon Eyes Brick And Mortar Retail As Walmart Jumps Into E-Commerce

·1 min read
In this article:
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  • Amazon.com Inc (NASDAQ: AMZN) is looking forward to launching multiple prominent physical retail locations, including Ohio, California, to operate like department stores, the Wall Street Journal reported.

  • Amazon attempts to sink its teeth deeper into sales of clothing, household items, electronics, and other areas via bricks-and-mortar retail, an industry the e-commerce retailer had disrupted with its online presence.

  • Amazon aims to tap the return of consumers to the stores post-vaccination, which led to the weaker e-commerce revenue, something that the pandemic had reversed entirely.

  • Earlier this year, Walmart Inc (NYSE: WMT) announced a billion investment to drive its e-commerce business. It began offering subscriptions to its proprietary e-commerce technologies and capabilities to small and midsized businesses.

  • Walmart's Q2 revenue rose 2.4% Y/Y to $141 billion, beating the consensus of $136.9 billion, marking its highest quarterly revenue ever outside of the holiday season. In contrast, Amazon's e-commerce slowdown led to Q2 revenue of $113.1 billion, up 27% Y/Y missing the consensus of $115.1 billion.

  • Amazon's new retail spaces of 30,000 square feet, smaller than the 100,000 square feet department stores, will stock items from top consumer brands.

  • It aims to take on the format adopted by Bloomingdale's Inc, Nordstrom Inc (NYSE: JWN), and other department-store chains. 

  • Price Action: AMZN shares traded lower by 0.14% at $3,196, and WMT shares traded higher by 0.47% at $149.82 in the market session on the last check Thursday.

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