Did Walmart’s online investments come too late?
Walmart has been making huge investments to boost its online shopping operations, but it still has a lot of work to do to catch up to Amazon.
The discount giant is still “trying desperately to catch up [to Amazon],” former Target vice chairman Gerald Storch told CNBC on Thursday.
For example, Walmart recently paid $16 billion for a majority stake in Indian e-commerce company Flipkart. In late 2016, the company acquired jet.com in a $3 billion deal.
However, "If Walmart had made the kind of investments they're making today, there would have been no Amazon. [Amazon] certainly wouldn't have grown to the scale it is, and they wouldn't have got the lead they have" if Walmart had gotten an earlier start, Storch added.
To read more of his thoughts, click here.
The discount giant is still “trying desperately to catch up [to Amazon],” former Target vice chairman Gerald Storch told CNBC on Thursday.
For example, Walmart recently paid $16 billion for a majority stake in Indian e-commerce company Flipkart. In late 2016, the company acquired jet.com in a $3 billion deal.
However, "If Walmart had made the kind of investments they're making today, there would have been no Amazon. [Amazon] certainly wouldn't have grown to the scale it is, and they wouldn't have got the lead they have" if Walmart had gotten an earlier start, Storch added.
To read more of his thoughts, click here.