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- Amazon “wouldn’t have grown to the scale it is” had Walmart invested in online shopping earlier, Gerald Storch says.
- Walmart does draw “strength” from leveraging brick-and-mortar to compliment its online efforts, he argues.
CNBC
by Tyler Clifford
11/15/2018
Excerpt:
Walmart has been making huge investments to boost its online shopping operations, but it’s still “trying desperately to catch up,” former Target Vice Chairman Gerald Storch told CNBC on Thursday.
“If Walmart had made the kind of investments they’re making today, there would have been no Amazon,” Storch said on “Squawk Alley.”
For example, Walmart recently paid $16 billion to buy a majority stake in Indian e-commerce company Flipkart. In late 2016, it paid $3 billion for then-startup Jet.com.
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