Online shopping is a very good way for ten people to buy one thing, but it is not a good way for one person to buy ten things. Try and buy ten different things simultaneously online* and it turns chaotic. Items arrive on four separate days, vans appear at your house at different times and one delivery always fails.* By contrast, the great thing about Walmart, which investors tend to overlook, is that people turn up, buy 47 different things and then transport them home at their own expense. Amazon can be a very big business selling one thing to 47 people, but if it can’t sell 47 things to one
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