According to Forbes, Amazon has amassed the kind of wealth which sufficed to knock Walmart off the throne. The online brand earned its spot as number 25 amidst Forbes’ Global 2000 list of the world’s biggest public companies. Amazon earned its spot following a consideration of the company’s revenue, profits, assets, and market value. On the other hand, Walmart lowered by five spots to number 29 on this year’s list. As such, the e-commerce managed to surpass Walmart and stole the title of the world’s largest retailer.
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Considerably, throughout the years, Amazon has affirmed its retail domination. Thus far, the number of Americans subscribed to the company’s Prime membership has topped 100 million in 2019 and we are not even halfway through the year yet. Such a powerful stride may have resulted from Amazon choosing to increase the number of benefits that come with the Amazon Prime subscription, hence making it a valuable and necessary membership to its customers. Of the numerous business-savvy moves the company has made, we include additional advantages tied to Amazon Prime which now include special discounts at Whole Foods, further investments in both TV and movies along with an expansion on free shipping for an array of differing products.
Moreover, investors continue to pour into the company which keeps the e-commerce’s stock high-flying. Not to mention last year, the company made $10 billion dollars in profit. Thus, evidently, Amazon’s reign is not letting up anytime soon.