Walmart launches free next-day delivery service

Channel: Fox Business
Published: 05/14/2019 10:58 PM

Description
Layfield Report CEO John Layfield, former Obama economic adviser Robert Wolf, Trump 2020 Advisory Board member Marc Lotter and former investment banker Carol Roth discuss Walmart’s next-day delivery service and whether Amazon should be nervous. FOX Business Network (FBN) is a financial news cha...



Transcript
[ music ] walmart is taking on amazon, allows you get free next day delivery service with no membership fees, customers in phoenix, las vegas in southern california, who buy at least $ 35 worth of goods, are gon na get free one-day shipping on as many as two Hundred twenty thousand items now amazon firing back with a tweet quote, others are trying to up their fast shipping game fact is amazon cust ...
mers and thousands of cities across 44. Major metropolitan areas already have access to millions of items with same free, same-day delivery. Customers are smart, they know the difference, so it's amazon getting a little nervous. No, i don't think they should are and i think they should be. What shouldbe getting nervous, though, is retail the retail out there. The original mom-and-pop killer walmart is going against the new mom-and-pop killer amazon. This can be bad for retail. It'S gon na be great for these two companies i bought amazon stock. I bought amazon stock a while back, but about walmart stock along with it because of the fact that walmart has stores in almost every city in north america. So when they go to same-day delivery, they don't have to build warehouses across north america. I, like amazon, has to do. It is so much cheaper for walmart to use existing stores as distribution.

Centers walmart is gon na, be very good at this e-commerce game. You know this isa, trade war i can get behind. This is capitalism. This is competition and who benefits at the end of the day, the consumer. As soon as one of these companies decide that they're going to up their game on shipping, everybody else decides to follow suit and that well, that's the president stepping off the plane. He said he's been in louisiana all day. Just came from an lng facility, there's a rally in new orleans tonight, but, as you can see, there are no microphones around him. We may keep those features at pictures up go ahead. I don't think he's delivering anything. One day to anybody, but i think it's a good thing and obviously this lastmile to get to the consumer is going to be really important. I think they have very different strategies, as john mentioned walmart already has these stores all the way around? I think they'll be focusing on different kinds of goods and services. I think what's interesting is that walmart, i think, set a minimum dollar price of 35 dollars, so they're just gon na take a little out of out of their margins, whereas amazon says it's not losing them.

I find a five-dollar thing being delivered is hard to believe that they're not losing money on that, but i'm not going to challenge amazon because i think i've been wrong for a decade mark. You know this is thisis capitalism at its finest and i'm just waiting for the first one. That'S going to pay me to receive their products, but you know it is extraordinary and john you've talked about this a lot. How a rising tide can lift all boats. You don't have to have one or the other, as the president is pressing. The flesh and the crowd here in new orleans go ahead. John yeah and you look at what amazon has done with all the mom-and-pop businesses out there. You know the people were so upset about walmart moving into small country. Towns. Amazon is slightly different because they have third-party sellers that are on their site. They have created a lot ofstartup millionaires and even a few billionaires and because of what they do absolutely and walmart is starting to do that as well. So these are becoming the home platforms instead of selling proprietary products and services they're helping small vision.

I want to make everyone happy at this panel. Yes, aoc was wrong, not supporting amazon sure that we're all aligned to end this, this great power, yeah.


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