Wal-Mart Works to Close Gap Between Itself and Amazon
HOBOKEN, N.J. (AP) — Even after an online spending spree, it may be hard for Wal-Mart to escape the Amazon in the room.
Wal-Mart's acquisition of Jet.com and brands that appeal to younger shoppers gave it an e-commerce boost as it works to close the gap with the online leader. The world's largest retailer is betting on essentials like fresh produce and groceries, and has adjusted its shipping strategy to better compete with Amazon's juggernaut Prime program. But Amazon keeps innovating too, implementing new technology and trying to make shopping more convenient.
Marc Lore, a co-founder of Jet.com who is now head of Wal-Mart's U.S. online operations, says he's confident about the company's momentum, which comes as Wal-Mart prepares to show off some of its innovations at the company's shareholder meeting this week.