Former Amazon ‘rival’ Jet.com is dead because Walmart doesn’t need it anymore

19/05/2020 Uncategorized

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Former Amazon 'rival' Jet.com is dead because Walmart doesn't need it anymore

Walmart has jettisoned Jet.

Well, sort of. The big-box retail giant released its quarterly earnings this week. It was good news for Walmart and bad news for Jet.com. In the earnings release, Walmart confirmed the e-commerce site it acquired in 2016 would be shut down because, well, Walmart can live without it. 

It should come as little surprise that Walmart did well during the first couple months of the COVID-19 pandemic in the U.S., with an 8.6 percent increase in total revenue and an eye-popping 74 percent increase in revenue from its self-branded e-commerce platform. People wanted to use Walmart.com to order products instead of a Walmart-owned site they had possibly never heard of, weirdly enough. Read more…

More about Ecommerce, Jet, Walmart, Jet.Com, and Covid 19

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