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The history of the retail industry turned when Amazon replaced Walmart as the world's
largest retailer outside of China.
Alibaba, China's online retailer, remains the world's largest retailer. But in terms of
market share outside of the most populous country, Amazon is currently at the top.
Driven in part by soaring demand during the pandemic, consumers spent more than $610
billion shopping on Amazon in the 12 months (the fiscal year ending June), according to
FactSet estimates. Meanwhile, on Tuesday, Walmart posted $566 billion in sales for the
12 months ending July.
"It was a historic moment. Walmart has been around for so long, now Amazon comes out
with a different model and takes the number one spot," said Juozas Kaziukenas, founder
of market research firm Marketplace Pulse, comment.
As such, Amazon has usurped the throne as one of the most successful and feared retail
companies of recent decades. Walmart is famous for its cost-optimized retail model that
deeply reduces product prices, a way to help them beat long-standing competitors.
Airbnb stands for AirBed and Breakfast. Airbnb is a model that connects people who
need to rent houses, rent rooms with people who have rooms for rent.
Eleven years on, Airbnb's website has data on more than six million rooms, apartments
and homes in more than 81,000 cities worldwide. On average, two million people stay at
Airbnb apartments every night. And since 2008, the total number of customers has
reached 500 million people.
London, Paris and New York have the largest number of rooms for rent. And Airbnb