Last week, Walmart made a big announcement. The brick-and-mortar giant said it was purchasing online retailer Jet.com, in what amounts to an aggressive attempt to compete with Amazon for Internet sales.
Many financial experts are skeptical about Walmart’s chances. Then again, as Wayne Gretzky once said, “You miss 100 percent of the shots you don’t take.”
Regardless of whether Walmart’s acquisition of Jet.com is effective in taking down the behemoth, the very fact it tried is good for the consumer. Consumers benefit when there are more choices. This drives down prices and leads to higher standards of products.
Furthermore, Amazon’s clout currently extends beyond its near-monopoly on online sales. After all, its founder and CEO, Jeff Bezos, also owns the Washington Post, a newspaper with an unabashed political agenda.
Amazon may still be the leader in e-commerce, but at least there are options now. That’s good for everyone.
Next time you need to buy something, remember that Jet.com is out there, looking for your business.
WATCH Walmart’s CEO Weigh In On Jet.com Deal: