It’s impossible to talk about retail in the United States without discussing the elephant in the room: Amazon. Though it hasn’t overtaken Walmart for the top slot, Amazon’s Prime Membership program and domination of the e-commerce sphere has caused ripple effects across the country. Borders Books & Music in 1994 generated more than $1.5 billion in sales: just one year before Amazon sold its first book. Now, Borders is but a memory while Amazon has become one of the most valuable companies on the planet.
Some companies have done better than others in adapting to the changing face of retail. Best Buy was singled out by several publications for adapting to the Amazon threat, implementing price matching and prioritizing customer relationships. Amazon, meanwhile, is pouring billions into Amazon Studios, hoping to establish a deeper connection with its consumers. J.C. Penney Co. Inc. and Macy’s, meanwhile, are just two examples of rapidly declining businesses, edged out of key markets by more shrewd competitors.
With “Searsageddon” happening in real time with new rounds of layoffs in August 2019, it’s important to take a periodic look at the companies dominating retail in the country, from auto parts stores to grocery and pharmacy.
Stacker breaks down the 50 largest retailers in the country by revenue, and discusses where those businesses are headed. Read on to find out which companies are successfully adapting to the new retail landscape.
This article was first published on theStacker.com
https://www.sfgate.com/personal-finance/article/50-biggest-retailers-in-America-14405710.php
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