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Roommates, Amazon Just keep getting the bag-this time, the company successfully defeated Wal-Mart in the process. According to Forbes, Amazon surpassed Wal-Mart, the world’s largest retailer, for the first time in history.
In the past 12 months, Amazon Compared with Wal-Mart’s 566 billion U.S. dollars, its sales reached an eye-popping 610 billion U.S. dollars.
Amazon’s first place is mainly due to the 2020 pandemic, when home orders and quarantine forced people to buy products online. This means that Amazon’s sales have increased by $200 million from June 2020 to June 2021.
This is the first time since 1990 that a competitive retailer has surpassed Wal-Mart in sales, when it officially became the largest retailer in the United States because it bypassed Sears, the leader at the time. Although Wal-Mart has also seen substantial growth due to the pandemic, it is significantly lower than Amazon’s jaw-dropping growth last year.
In addition, Target’s revenue has increased by $24 billion-but it is also far behind Amazon.
This is Amazon’s most recent victory because the company’s founder Jeff Bezos is currently worth an estimated $187.2 billion, making him the richest person in the world. Bezos recently used his huge wealth to travel to outer space with his brother. He said this was his childhood dream and finally came true.
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