Wal-Mart Anxious to Combat Amazon’s Lead in Web Vendors
Wal-Mart is "anxious" to take on Amazon.com's Marketplace, where independent merchants sell millions of products. According to minutes from a Feb. 1 officers meeting led by U.S. Chief Executive Officer Bill Simon, Wal-Mart considers Marketplace Amazon's "number one weapon." "This is an area" Wal-Mart is "anxious to compete in," according to the minutes, which were obtained by Bloomberg News. Participants at the meeting also focused on the savings Amazon has captured by offloading shipping costs to its army of independent sellers.