Online retailer Amazon to overtake Wal-Wart by 2020, says ex-Asda chief Andy Bond
Highlighting a “period of vast change”, Mr Bond said the online retailer would come to eclipse Wal-Mart, Asda’s US owner. Amazon currently has a market value of $106bn (£68bn), compared to Wal-Mart’s $252bn capitalisation.
In an interview with The Daily Telegraph, Mr Bond also warned of up to a decade of economic pain for UK consumers, branded pay for some top company directors “gratuitous”, and threatened to inflame the milk industry row by calling for supermarkets to do more to help farmers.
Highlighting the internet revolution, Mr Bond – now chairman of web-based bicycle retailer Wiggle and fashion company Republic – said: “No one should underestimate what internet companies are doing to the retail industry. We’re in a period of vast change.
“Almost certainly Amazon will have toppled, or at least be vying with, Wal-Mart for the…
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