WALMART TO CHALLENGE AMAZON WITH ACQUISITION
Walmart’s latest purchase, Jet.com, is thought to be an attempt to challenge online shopping behemoth Amazon on its homecourt: e-commerce. One of the ways in which Jet.com sets itself apart is through its concept of bulk buying, in which customers buy from the store, get the product shipped by a nearby vendor and then gather up the savings. It is expected to revive Walmart’s online shopping, one of the slowest growing aspects of their business. However, they have a lot of catching up to do. Amazon’s sales have risen above $100 billion annually. Walmart bought Jet.com for $3 billion.