E-commerce giant Amazon.com could by the end of the decade overtake Walmart as the world’s biggest retailer, predicted the former head of a British supermarket chain.
Andy Bond made the prediction in the British newspaper The Telegraph.
“Almost certainly Amazon will have toppled, or at least be vying with, Walmart for the top slot in 2020,” Bond said. “Ten years ago people would have said that was ridiculous.”
He added: “No one should underestimate what Internet companies are doing to the retail industry. We’re in a period of vast change.”
Currently, Walmart has a substantial lead. It ranks no. 1 on the Stores 100 list, with $453 billion in worldwide sales. Amazon claims the 15th position, with $47.7 billion in worldwide sales.