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International Business Times UK

Vinay Patel

The King Of Retail Has Fallen: Amazon Overtakes Walmart In Revenue For The First Time

Amazon Walmart Neil Saunders e-commerce CNBC United States

Amazon has dethroned Walmart as the top retailer by quarterly revenue. E-commerce boom and cloud computing growth propelled Amazon's historic overtaking. (Credit: X / Ken Hughes @KenHughesIE)

Walmart dominated the retail sector for decades, but the landscape has changed. The online giant Amazon has overtaken the brick-and-mortar retailer, surpassing Walmart in revenue for the first time.

Walmart has been the leading retailer in the US since surpassing Sears in 1993. For the past 12 years, no company in any industry has generated more revenue. However, market analysts predict that Amazon will soon surpass Walmart in both revenue and overall dominance.

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