The world's biggest retailer Wal-Mart has raised its online sales target this year after making an acquisition in China and now says it expects to reach $10 billion (£6.5 billion).
Wal-Mart Stores president and chief executive Mike Duke told the firm's shareholders meeting the increase from the previous target of $9 billion reflects the acquisition of China's ecommerce site Yihaodian.
But Wal-Mart's global sales were $469 billion (£304 million) last year which means ecommerce sales will be just 2.1 per cent of its total sales.
It also puts into perspective Wal-Marts position versus its chief online antagonist Amazon. It is estimated that Amazon's sales in the UK alone are about £8 billion when sales from its Marketplace are added. Amazon's global sales were $61.1 billion last year.
However, it probably means that Wal-Mart is the biggest multichannel retailer in the world by online sales.
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