"Walmart, step aside!"... Amazon makes 'new history' with No. 1 quarterly sales
Amazon logo. [Photo = Yonhap News]
Walmart announced on the 20th (local time) that it recorded sales of $180.55 billion in the last quarter (November 2024-January 2025).
Amazon previously announced its performance on the 6th, and its sales for the last quarter were tallied at $187.89 billion. This proves that American consumers are now purchasing more products online than offline.
Walmart is a 'distribution dinosaur' that has maintained the lead in sales through online and offline stores. It has posted the highest sales for 12 years since it surpassed oil giant Exxon Mobil in 2012. However, Amazon surpassed Walmart for the first time in last quarter's sales, signaling a tectonic shift in the distribution industry.
While Walmart earns most of its profits through its retail stores around the world, Amazon also generates profits through subscriptions, cloud services, and advertising in addition to its stores. In particular, sales of Amazon Web Services (AWS), a cloud service, have more than doubled since 2020, growing to account for about 17% of total sales. The significant increase in online shopping during the COVID-19 period also served as a catalyst for Amazon's growth. Although
Amazon surpassed Walmart in quarterly sales, Walmart still maintained its top spot on an annual basis. Amazon's annual sales last year were $647.96 billion, falling short of Walmart's $680.99 billion.
However, if the current shopping trend continues, it is estimated that Amazon will surpass Walmart in annual sales as well.
Amazon's market cap already surpassed Walmart's in 2015 and has been widening the gap since then. As of today, Amazon's market cap is $2.36 trillion, three times that of Walmart's $784.7 billion.
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