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Online Sales Grow to $1 Trillion in 2016

A recent report by Internet Retailer found that worldwide sales from online marketplaces surpassed $1 trillion in 2016. Huge corporations are battling it out for a piece of the pie, and consumers seem more than happy to continue the trend. What do eleven Bill Gates clones, the GDP of Mexico, and last year’s worldwide sales from [...]

A recent report by Internet Retailer found that worldwide sales from online marketplaces surpassed $1 trillion in 2016. Huge corporations are battling it out for a piece of the pie, and consumers seem more than happy to continue the trend. What do eleven Bill Gates clones, the GDP of Mexico, and last year’s worldwide sales from large online marketplaces have in common? They all have $1 trillion. That’s a massive, almost incomprehensible amount of money. To put it into further perspective,...

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Warren Buffett, Walmart, and the Shift to Ecommerce

In February, billionaire investor Warren Buffett announced that he was dropping 90 percent of his stock in Walmart. This is a grim prophecy for the retail juggernaut, which faces stiff competition in rival Amazon. Walmart, in addition to encouraging customers to order online and pick up in store, has recently announced the launch of a new [...]

In February, billionaire investor Warren Buffett announced that he was dropping 90 percent of his stock in Walmart. This is a grim prophecy for the retail juggernaut, which faces stiff competition in rival Amazon. Walmart, in addition to encouraging customers to order online and pick up in store, has recently announced the launch of a new online marketplace called “Store No. 8” in an effort to stay relevant in an increasingly digital marketplace. It’s common knowledge these days that ecommerce is...

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