Amazon Won't Know What Hit' Em!
Bloomberg Businessweek|May 8 - May 14, 2017

After Years Of Futility, Wal-Mart has an expensive new plan to win at e-commerce by Brad Stone And Matthew Boyle

Molly Smith
Amazon Won't Know What Hit' Em!

Last summer, Marc Lore, founder and chief executive officer of e-commerce startup Jet.com Inc., sat down to record a private video for the top officials of the world’s largest retailer: Wal-Mart. In the video, meant for Wal-Mart executives and board members who weren’t yet part of weeks of secret negotiations between the companies, Lore stares earnestly into the camera and shows off his Bentonville bona fides. After humble bragging about reading every annual report since 1972, he says he’s been “struck by Wal-Mart’s maniacal focus” over its storied 54-year history.

But Lore’s 40-minute presentation doesn’t hold back about the threat posed by its most fearsome and increasingly powerful archrival. “AMAZON IS DOMINATING” reads a slide on a large screen behind him. In the video, Lore presents a plan to bet Wal-Mart’s future not on e-commerce standbys such as books, electronics, and toys, but on product areas only now becoming popular online, including apparel, fresh food, and “everyday essentials” like drugstore items. “We’ll need to take the offensive, swim upstream,” Lore says. “As Sam Walton said, ‘Opportunity lies in the opposite direction.’ ”

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