I like Walmart. (There: I said it!) I do a lot of shopping there. Nobody else stocks some of the things I want, and when I get them at Walmart, I know the price won’t be lower anywhere else.
I also like Amazon. But from this article, I’m guessing that Walmart doesn’t.
The countryâ€™s largest retailer, which for years didnâ€™t blink at would-be competitors, is now under such a threat from Amazon that it is frantically playing catch-up by learning the technology business, including starting @WalmartLabs at Walmart Global E-Commerce, its dot-com division.
Walmart is right to be concerned about how to have an effective online business. (Walmart.com is to Amazon.com as Walmart is to Nordstroms.)
Still, it’s interesting to see a company that’s trying to catch up instead of just flailing helplessly.
The lesson: never give up, never surrender. Never rest on your laurels. The beauty of the capitalist system is that it rewards the Amazon’s of the world that take on the Walmarts and beat them, not by complaining, but by delivering superior value.