Amazon Reportedly Outsold Walmart Last Year For The First Time - Forbes

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Topline

Amazon’s sales and those of third-party sellers on its platform eclipsed Walmart’s over the year ending in June, according to the New York Times, making the e-commerce giant the world’s largest retailer outside China for the first time.

Key Facts

Shoppers spent more than $610 billion on Amazon over the 12-month period, according to estimates of Wall Street data compiled by FactSet, while Walmart reported $566 billion in sales for about the same period Tuesday.

It’s the first time Walmart has been outsold since it became the country’s biggest retailer in 1990 when it passed up Sears in sales.

Amazon got a huge boost during the coronavirus pandemic, when stay-at-home orders and quarantines sent people online to buy products to be delivered to their door, with the total value of goods sold on its platform estimated to have increased by $200 million over the 12 months through June.

Walmart, along with other big box stores like Target, reported a pandemic jump in sales as well, but at $24 billion it fell well short of Amazon’s growth.

Big Number

$187.2 billion. That’s how much Amazon founder Jeff Bezos is worth, by Forbes’ estimate, making him the wealthiest person on Earth. The Walton family, the descendents of Walmart founding brothers Sam and James “Bud” Walton, were worth a collective $247 billion in 2020 thanks to their ownership of about half of Walmart’s stock, by Forbes’ estimate.

Key Background

While Walmart publicly posts its sales, which are made up of mostly its own goods, analysts estimate Amazon’s because the majority of the sales on its platform are from third-party sellers, and the company only reports the fees it charges for those sales, according to the New York Times. Both Walmart and Amazon still fall short when it comes to sales by Chinese billionaire Jack Ma’s e-commerce giant Alibaba, which remains the world’s top seller and reported $1.2 trillion in gross merchandise volume in the fiscal year that ended in May.