While everyone waxed rapturous over delivery of the first of the new B767-300 jet freighters in Amazon colors two weeks ago, a reported Walmart $3.3 billion dollar bid for Jet.com went largely unnoticed.
     On Monday Walmart announced that the acquisition is moving forward. The bid set the retailer as a major competitor for Amazon.
     While Jet is still somewhat unproven and is losing millions of dollars a month, this acquisition could still prove to be the next big thing.
     One thing is for sure: In the latest fiscal year reporting, Walmart e-commerce efforts have been a puny $13.7 billion annual revenue versus $79.3 billion in product sales for Amazon.
     Currently Amazon accounts for about half of the annual e-commerce growth and is growing at more than 30 percent annually according to reports.
     Walmart catching Amazon in the near term is quite impossible, but “once bitten twice shy” seems to be in play here as Walmart sees the mountain and is not shy about starting the climb.
     What Walmart likes about Jet, is Marc Lore, an executive who thinks e-commerce; a new, untapped customer base; and Jet.com's pricing focus and technologies, allowing for a lower, retail-driven philosophy offering additional discounts based on product availability at various shipping locations.
Geoffrey

Vol. 15 No. 60
LIGHTBOX for August 8, 2016
Business Up Rates Challenged
Chuckles For August 8, 2016
Pride of the Nation
Letter to Lufthansa
Elevate Women Says DhankarSweet Summer Farewell