With possibly the best results for American major brick and mortar retailers over the holiday period, Wal-Mart is moving a significant portion of their energy to online sales, setting their sights on industry leader Amazon.
The retailer posted its third straight quarter of double-digit online growth, helping boost their holiday business.
The change came with the acquisition of online retailer Jet.com, whose CEO has come over to Wal-Mart to lead the online strategy to counteract the slowing growth of traditional retail.
Wal-Mart’s better fourth quarter earnings exceeded those of competitor Target Corp., which continues to be hurt by disappointing customer traffic.
Wal-Mart continues to struggle with their grocery business, which has been hit by the longest stretch of food deflation since 1960, along with the encroachment by discount retailers such as Costco.
However, online versus Amazon, may be their new sustenance.