Thomas L. Friedman Quote
Faster. As I was closing this book, Walmart announced that to upgrade its ability to compete in e-commerce with Amazon—which still does eight times Walmart’s sales online—it was buying Jet, a year-old Internet retail startup. The Economist reported on August 13, 2016, that Jet’s appeal to Walmart was its real-time pricing algorithm, which tempts customers with lower prices if they add more items to their basket. The algorithm also identifies which of Jet’s vendors is closest to the consumer, helping to minimize shipping costs and allowing them to offer discounts. Walmart plans to integrate the software with its own. It turns out that under a second was just too damned slow.
Faster. As I was closing this book, Walmart announced that to upgrade its ability to compete in e-commerce with Amazon—which still does eight times Walmart’s sales online—it was buying Jet, a year-old Internet retail startup. The Economist reported on August 13, 2016, that Jet’s appeal to Walmart was its real-time pricing algorithm, which tempts customers with lower prices if they add more items to their basket. The algorithm also identifies which of Jet’s vendors is closest to the consumer, helping to minimize shipping costs and allowing them to offer discounts. Walmart plans to integrate the software with its own. It turns out that under a second was just too damned slow.
Related Quotes
About Thomas L. Friedman
Friedman began his career as a reporter and won two Pulitzer Prizes in the 1980s for his coverage on conflict in Lebanon and politics in Israel, followed by a further prize in 2002 for commentary on the war on terror.