Afternoon Coffee: Amazon Sets Sights on Ocean Freight Market, Wal-Mart Closing Hundreds of Stores

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Amazon.com Inc’s Chinese affiliate Amazon China is hoping to enter the ocean freight industry. Amazon China registered with the U.S. Federal Maritime Commission to become a licensed ocean freight forwarder, which would give Amazon the ability to send packages by sea.

Wal-Mart will start closing 269 stores in the U.S. and other countries like Puerto Rico and Brazil by the end of January. The stores closing represent less than 1 percent of the retailer’s global revenue.

A new study shows 32% of online shoppers during the holiday season chose to pick up their purchase in a physical store. The study by the International Council of Shopping Centers also showed 56% of shoppers researched an item before they shopped at a store.

Analysts expect 2016 to be a difficult year for the freight and logistics industry. Growth in freight volumes fell at the end of last year and cheaper fuel is causing companies to cut prices.

 

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