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Who Wins The Battle Of Walmart Vs. Amazon?
By Blake Morgan, Senior Contributor.
uthor and Keynote Speaker.
I am a Customer Experience Futurist, …
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Published Jun 14, 2021 at 09:00am EDT, Updated Dec 10, 2021 at 08:30am EST
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Walmart and Amazon are two of the world’s biggest retailers—but who comes out on top?
In 2019, I wrote about seven areas where Amazon and Walmart compete. But times have
changed, and so has the retail industry. How do these two retail giants stack up against each
other in a post-Covid world?
Amazon and Walmart often compete for the same customers. As two of the biggest retail
giants in the world, they also set the tone for other big box stores and online retailers. If
Amazon or Walmart do something, you can bet that other companies will follow.
Since I wrote the original article in 2019, both Amazon and Walmart have expanded into new
areas and weathered a pandemic. Here’s how they stack up against each other now:
1 . Financials
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As of 2020, Walmart’s total equity is $74.66 billion. For fiscal year 2020, Walmart’s revenue
increased 6.7% to reach $559 billion. In Walmart’s first quarter of 2021, which ended May 1,
the company had total revenue of $138.31 billion, a 6.2% increase over the previous quarter.
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Amazon’s total equity as of 2020 is $93.4 billion, and the numbers keep growing rapidly. In
the first quarter of 2021, Amazon had net sales of $108.5 billion, a 43.8% increase over the
same period in 2020. Amazon’s revenue for the year was $386 billion, a $100 billion increase
over the previous year.
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Walmart has 2.3 million employees,
compared to Amazon’s 1.3 million. In 2020
alone, Amazon added 500,000 employees
around the world.
Amazon’s stock price is currently around
$3,235, while Walmart’s is $141.
Winner: Walmart by a nose, but Amazon is
inches behind. Walmart still has bigger total
revenue numbers, but Amazon is growing
faster and catching up quickly.
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2 . Innovation
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Amazon and Walmart tend to be on the cutting edge for innovation. In just the last year,
Amazon has announced biometric payments, Amazon Fresh grocery stores, FAA-approved
drone deliveries and even a hair salon—all during a pandemic. The company continues to
expand to new areas, including adding pharmaceutical offerings and strengthening its smart
home devices. Amazon is even in talks to purchase MGM Studios for $9 billion.
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Amazon is a leader in innovative technology and automation. In 2021, Amazon will open a
350,000 square foot robotics hub in Massachusetts. The building is part of a $40 million
investment into expanding robotic use in the supply chain and fulfillment.
Walmart continues to innovate, especially in streamlining order fulfillment and the customer
experience. In 2020, Walmart unveiled Alphabot, a platform that can pick, pack and deliver
online grocery orders faster and more accurately than humans.
Walmart is also in the process of redesigning 1,000 stores by the end of 2021 to create a more
streamlined and faster shopping experience for customers. The new design relies heavily on
increased signage and an updated app to point customers to the exact location of each item,
blurring the line between online and in-store shopping.
Winner: Amazon. The company has changed the retail scene with its innovative products
and services, and it continues to do so with its leading use of robotics and AI.
3 . Customer Focus
Financial growth is important, but it means nothing without a focus on customers, especially
in the competitive e-commerce industry. Amazon ranks in the top five retailers in the
American Customer Satisfaction Index, although its score dropped 4 points from 2019 to
2020. Walmart has an ACSI score of 73, below the internet retail average of 78.
Amazon is known for its culture of customer-obsession. Its product recommendations and
personalization are unparalleled, with 35% of Amazon purchases coming from
recommendations. Amazon has also expanded its grocery delivery and product delivery
options to better serve customers, including delivering straight inside customers’ garages.
Walmart understands the value of customer experience and has made many of its recent
changes with customers in mind. Walmart’s new store layout is designed to get customers to
the exact items they need as quickly as possible. Its renewed emphasis on mobile and online
shopping is also done to meet customer needs.
Related to customer focus is the employee experience. Walmart plans to raise average pay for
U.S. hourly workers to $15.25 an hour to provide a liveable wage and retain employees.
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Amazon already pays its employees $15 an hour and recently announced raises for more than
500,000 U.S. employees.
Winner: Amazon. Walmart has made strides in this area, but Amazon is still untouchable
with its seamless, convenient and innovative customer experience.
4 . Digital Growth
The Covid pandemic has put all stores on a fast track to digital growth, especially Walmart
and Amazon. For the fiscal year 2021, Walmart reported 79% e-commerce growth. Amazon is
responsible for 40% of all e-commerce sales in the U.S.—and growing.
Walmart’s updated app and store layout blurs the line between in-person and online
shopping and makes a customer’s smartphone a valuable part of the shopping trip. In 2020,
Walmart unveiled Walmart+, its answer to Amazon Prime. The new service includes
unlimited free grocery delivery, Scan and Go in-store shopping and gas discounts, among
other perks. In its first five months, Walmart+ secured around 8 million subscribers.
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Aside from its digital shopping capabilities, Amazon has found success in Prime streaming
video, which was used by more than 175 million subscribers in 2020, with streaming hours up
more than 70% year over year. Amazon Web Services continues to be the darling of the
company, bringing in $13.5 billion in profits in 2020.
Winner: Amazon. Its B2B and B2C digital solutions and especially its streaming growth set
the tone for many other brands and will only continue to grow.
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By Diageo
5 . Retail Presence
Walmart has long held the top spot in terms of physical retail presence. The company has
more than 4,700 stores in the U.S—a number that has held steady for the past few years—and
90% of Americans live within 10 miles of a Walmart store.
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Amazon is making strides with its physical retail presence. In 2020, Amazon expanded with
its own grocery stores. Aside from its 500-plus Whole Foods locations, Amazon is also
opening full-size Amazon Fresh grocery stores across the country. There are currently 11
stores in operation, with 28 more in the works, although Amazon is staying quiet about its
plans.
Winner: Walmart, but Amazon is catching up. Walmart dominates in physical space with its
ubiquitous stores. Although Amazon is growing quickly, it still has a long way to go.
6 . Supply Chain/Logistics
One of the hallmarks of the Amazon experience is quick shipping. Amazon sets the standards
for all other e-commerce retailers with its same-day and next-day shipping for Prime
members.
Amazon has also built out its fleet of trucks and planes to be completely in control of logistics.
The fleet is growing rapidly, with an expected 80 planes in 2021, up from 50 in early 2019.
Amazon is also opening a massive air hub in Kentucky in 2021, with room for 100 cargo
planes and up to 300 trucks at any one time. In 2020, Amazon got FAA approval for its longawaited delivery drone that has the power to deliver items in 30 minutes or less.
Walmart is following in Amazon’s footsteps with one-day shipping. In May 2020, Walmart
unveiled Express, its two-hour delivery service. Walmart has made huge strides in automating
its supply chain and order fulfillment processes for quick and accurate service. Walmart’s
innovations make it possible for the company to track and seamlessly restock inventory.
Walmart is also expanding its Alphabot system to automatically fulfill customers’ grocery
orders and converting more stores into automated fulfillment centers.
Winner: Amazon. The company is building out its logistics arm to rival delivery companies
and sets the standard for fast and innovative delivery options. In many ways, Amazon is now
as much of a logistics company as it is an e-commerce company.
7 . Sustainability
In early 2020, Amazon CEO Jeff Bezos introduced the $10 billion Bezos Earth Fund to invest
in environmental initiatives. Amazon is also investing $2 billion in sustainable companies and
technology to help the planet. The company has public goals to have half of all deliveries be
carbon neutral by 2030, achieve net-zero carbon by 2040 and reach 100% usage of renewable
energy by 2025. Amazon uses green office buildings with on-site solar.
However, Amazon is also one of the biggest producers of packaging waste, which comes with
the territory of being the biggest e-commerce company in the world. One report estimates
that Amazon generated 465 million pounds of plastic packaging waste in 2019, a number
Amazon says is overblown. The company has made efforts to increase its recycling packaging,
but much of it still ends up in landfills.
Walmart is also dedicated to lowering its carbon footprint. In 2019, Walmart bought more
wind and installed more solar than any company in the U.S. and diverted 80% of its global
waste from landfills and incineration. Its goals include achieving zero waste in U.S. and
Canada operations by 2025, 100% recyclable or reusable packaging by 2025 and 100%
renewable energy by 2035. The company is also working towards sustainability throughout its
supply chain with investments and improvements around the world.
Winner: Walmart. Amazon made big strides with its sustainability investments in 2020, but
it is still a major contributor to the problem. Walmart’s efforts aren’t as flashy, but the
company is more transparent about its carbon footprint and is making progress around the
world.
So, who comes out on top in the updated battle of Amazon versus Walmart? After
phenomenal growth in 2020, Amazon wins the battle. The company is expanding rapidly
while continually improving its service and fast delivery.
But keep an eye on Walmart. With a renewed customer focus and an established retail
presence, Walmart could continue to see amazing growth.
Both Amazon and Walmart set the bar for all other retailers on everything from logistics to
customer service and innovation. If Amazon does it, Walmart and all other companies follow.
Their continued push for customers helps move all other retailers to a stronger customer
focus.
Blake Morgan is a customer experience futurist, keynote speaker and the author of the
bestselling book The Customer Of The Future. Sign up for her weekly newsletter here.
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The New Brand Growth Formula: A Data-Driven
Culture Fueled By AI
By Acxiom Contributor, Insights Contributor.
for Acxiom, FORBES INSIGHTS | Paid Program
Published Sep 12, 2025 at 11:10am EDT
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Summary
AI is reshaping brand engagement, but its effectiveness relies on high-quality,
curated data, a significant challenge for many. Brands must prioritize data
readiness, integrate tailored AI models, and cultivate a systems-thinking…
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By Jason Compton
Artificial intelligence is rapidly changing how brands and customers interact. AI-powered
chatbots, zero-click search results and targeted messaging are accelerating the connection
between thought and outcomes, challenging traditional marketing channels and touchpoints.
To capitalize on this shift, brands need a corresponding jump in both the quality and depth of
their data — the indispensable fuel that turns a model's expectations into accurate
recommendations and action.
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“You could say data is ‘king’ or ‘queen’, but now it’s the universal force,” says Graham
Wilkinson, chief innovation officer and global head of AI at Acxiom, a data and identity
solutions company connecting brands with 2.6 billion people globally. “You need trusted,
connected, clean data as a foundation for AI.” To drive both big-picture innovation and
growth, brands must empower experts and curious minds to pair the right AI models with
data curated for diverse business needs.
Ahead, explore what it takes to become an AI-driven brand, and establish a culture with the
expertise and processes to maximize AI investments.
Data’s Defining Moment And The Need For Curated AI Ecosystems
On the path to becoming an AI-driven enterprise, C-suite leaders are grappling with a
fundamental obstacle: data quality. In Forbes Research’s 2024 AI Survey, 31% of CxOs cited
data quality as a main challenge for AI adoption over the next two years. And just 33% rated
their current data cleaning and reprocessing for AI initiatives as effective.
"Many organizations don't necessarily have their data in order, including having the right,
curated foundation that will fuel their AI," says Jarrod Martin, global CEO of Acxiom. “Data
readiness is fundamental to realizing the promise of AI.”
Organizations are already taking steps to apply AI at key consumer touchpoints. For example,
72% of CMOs in the Forbes AI Survey said they use AI chatbots and virtual assistants, with
27% using them extensively to provide real-time personalized responses.
Despite this, only 9% of CEOs find AI to be very effective in achieving enhanced CX as a
strategic goal, and less than a third of CxOs say their use of AI has very positively impacted
CX metrics.
Making the most of generative AI agents takes more than just accelerating traditional, siloed
marketing workflows. Strategists must seek insights and opportunities outside the linear
model and single-tool solutions, says Wilkinson. By rethinking their marketing workflow,
brands can meet the needs of thousands of different customers with dynamically created
assets.
With the right tech, connected data and AI in place, brands can go from building a campaign
in months to one day, he notes, adding that while execution is not perfect yet, the need for
speed is here. These advancements aren’t just about efficiency—they’re about accurately
building campaigns that can engage your audience across channels based on timely data.
“AI transforms marketing into a high-velocity learning lab,” says Martin. “Now brands can
leverage their data and identity to test creative elements in a dynamic environment and make
the most of their marketing and tech investments.
Martin adds that this same principle applies to the AI platforms that brands use. Since
different models have dramatically different strengths, it’s unlikely that any one model or tool
will solve all challenges. Instead, he says organizations should pair their curated, privacycompliant data with models best suited to specific use cases.
Overcoming AI Adoption Challenges And Building Scalable Solutions
As AI-assisted interactions and recommendations become the norm, brands must ensure they
have a scalable cloud infrastructure to deliver AI insights and a steady, credible flow of data to
their models. The Forbes AI Survey showed that real-time data integration is among the top
five CxO strategies for AI success. On questions of AI readiness, leaders take a positive stance
on operational challenges.
In Forbes Research’s CxO Growth 5.0 Survey, 66% of CxOs agreed that AI democratization
has led to more innovation and informed decision-making at their organization. The Forbes
AI Survey also showed just 31% of respondents see integration with existing systems and
processes to be a main challenge to AI adoption, and 69% are confident their organization has
a scalable cloud infrastructure suitable for AI workloads and applications.
Martin suspects leaders may be overconfident, adding that both the marketing and ad tech
spaces are heavily fragmented and still dominated by legacy solutions. “Once we start to
reduce the amount of complexity in that MarTech stack, we can then start to unlock the power
of AI incrementally,” he says.
On the talent front, Wilkinson says the AI skills gap is less about certifications and more
about mindset. He advises cultivating a systems-thinking approach, one that re-evaluates
what’s possible with new technology rather than adhering to past constraints. “It’s not about
just going out and acquiring new talent,” he says. “You’ve got to take your existing talent on a
systems-thinking journey.”
He adds that the right strategic partner can provide the technology and expertise to smooth
deployment challenges and maximize return on investment. And to ensure a unified purpose
that avoids fragmentation, leadership must have a clear governance structure that welcomes
all voices at the table.
Acxiom And Interact Power AI-Driven Transformation
Knowledgeable partners who work directly with multiple AI models and have a proven track
record of delivering brand growth are essential to progress.
Interact, a comprehensive marketing platform, leveraged Acxiom’s connected identity and
data to help a major U.S. sports league overcome siloed internal teams. This allowed them to
drive engagement through personalized campaign activation, powering brand growth. Within
Interact’s AI platform, five distinct digital twin audience agents — AI models customized to
emulate the league’s primary fan groups — were developed and interacted with to gain
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1
previously impossible insights. The outcome was undeniable: the AI-augmented personalized
ads outperformed non-AI ads by 23%. High-impact display ads saw an 18% increase in tunein conversions per thousand impressions.
As an experienced AI implementer, Acxiom helps brands tailor AI models and build specific
goal-based applications, ranging from omnichannel experiences to marketing pipeline
automation. “Small models, large models, adaptive models, open source models—they all
have their place in different aspects of the workflow,” says Wilkinson, stressing that brands
should avoid relying on generalized models and focus on tailoring their AI models to specific
use cases.
Martin says that trusted partners help brands see where outdated or siloed approaches can be
modernized. “There are clients with the mindset that AI will drive efficiency of the current
process,” he says. “If we think differently and realize AI-powered design systems, then we
unlock incremental growth rather than just efficiency.”
While the use of autonomous AI models for brand growth is in its early stages, brands have an
opportunity to seize a first-mover advantage, adds Martin. “The industry at large is superlaser-focused right now on efficiency,” he says. “I believe building AI models with a growth
mindset will drive the bigger opportunities.”
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By Acxiom Contributor, FORBES INSIGHTS | Paid Program. Acxiom puts data to work, solving
complex challenges for the world’s leading brands and agencies. As the connected data and
technology foundation of the Interpublic Group of Companies, Inc. (IPG), Acxiom unifies,…
connects, and prepares data for AI-driven marketing and decision-making, maximizing technology
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investments. As leaders in data ethics and governance, Acxiom brings a privacy-first approach to
serving clients globally, with locations in the U.S., UK, Germany, China, Poland, and Mexico.
Connect with Acxiom on LinkedIn and discover more at Acxiom.com.
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