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Winner Sells All: Amazon, Walmart, and the Battle for Our Wallets
A riveting investigation of the no-holds-barred battle between Amazon and Walmart to become the king of commerce. For years, Walmart and Amazon operated in separate spheres--one a massive brick-and-mortar retailer, the other an online giant. But in 2016, Walmart aggressively moved into the world of e-commerce, while Amazon made big bets in physical retail. The resulting rivalry is a bare-knuckle power struggle as each titan tries to outmaneuver the other to become the biggest omnichannel retailer in the world. As the two megacorporations have consolidated power, troubling consequences have also emerged--for consumers and small merchants faced with fewer buying and selling options, and for millions of workers paid meager wages for demanding and sometimes dangerous work. Winner Sells All is a tale of disruption and big money moves, with legendary executives and fearless entrepreneurs in a battle--between rival corporations and sometimes even within the same company--to invent the future and cement their own legacies. Veteran journalist Jason Del Rey chronicles the defining business clash of this generation--a war waged for our loyalty and our wallets, with hundreds of billions of dollars at stake and millions of jobs on the line. As both companies continue to expand their empires into new industries, Winner Sells All reveals how this battle will change the ways we shop, live, and work--for decades to come.
1 pages, Audio CD
Published June 20, 2023
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Displaying 1 - 30 of 34 reviews
June 28, 2023
This is more of a history book than your typical business book. Would read this again!
September 20, 2023
An excellent read, and very informative as to the battle between Amazon and Walmart. I definitely think Walmart has made so many mistakes trying to get into the digital age, and for me it is still hard to believe how they could have made so many.
As for Amazon, I think Jeff's little side pet projects, and his terrible relationship decisions definitely slowed down the complete dominance of Amazon, but now that he's stepped aside to go play with his little toys, I think Amazon is back on track.
Walmart should just focus on what it does best, and should stop pursuing purchases like TikTok, because they have absolutely nothing to do with the Walmart brand and mission.
I just wanted to highlight this from the book, because I thought it was pretty funny:
"By some estimates, more than half of all American women are plus-sized."
As for Amazon, I think Jeff's little side pet projects, and his terrible relationship decisions definitely slowed down the complete dominance of Amazon, but now that he's stepped aside to go play with his little toys, I think Amazon is back on track.
Walmart should just focus on what it does best, and should stop pursuing purchases like TikTok, because they have absolutely nothing to do with the Walmart brand and mission.
I just wanted to highlight this from the book, because I thought it was pretty funny:
"By some estimates, more than half of all American women are plus-sized."
February 15, 2024
"A riveting investigation of the no-holds-barred battle between Amazon and Walmart to become the king of commerce."
"For years, Walmart and Amazon operated in separate spheres -- one a massive brick-and-mortar retailer, the other an online giant. But in 2016, Walmart aggressively moved into the world of e-commerce, while Amazon made big bets in physical retail.
"The resulting rivalry is a bare-knuckle power struggle as each titan tries to outmaneuver the other to become the biggest omnichannel retailer in the world. As the two megacorporations have consolidated power, troubling consequences have also emerged -- for consumers and small merchants faced with fewer buying and selling options, and for millions of workers paid meager wages for demanding and sometimes dangerous work.
"Winner Sells All is a tale of disruption and big-money moves, with legendary executives and fearless entrepreneurs in a battle -- between rival corporations and sometimes even within the same company -- to invent the future and cement their own legacies. Veteran journalist Jason Del Rey chronicles the defining business clash of this generation -- a war waged for our loyalty and our wallets, with hundreds of billions of dollars at stake and millions of jobs on the line. As both companies continue to expand their empires into new industries, Winner Sells All reveals how this battle will change the ways we shop, live and work -- for decades to come."
~~front flap
There's not much else to say about this book, except that the blurb gives the overview and the book provides the details and the minutia. I wasn't a big fan of either corporation and I've taken away a firmer conviction to deal with neither of them. (Except that my monthly benefits card is good only at Walmart or Safeway and Safeway is more difficult to get to.) I'd much rather deal with local businesses, that treat their employees right, especially small businesses.
"For years, Walmart and Amazon operated in separate spheres -- one a massive brick-and-mortar retailer, the other an online giant. But in 2016, Walmart aggressively moved into the world of e-commerce, while Amazon made big bets in physical retail.
"The resulting rivalry is a bare-knuckle power struggle as each titan tries to outmaneuver the other to become the biggest omnichannel retailer in the world. As the two megacorporations have consolidated power, troubling consequences have also emerged -- for consumers and small merchants faced with fewer buying and selling options, and for millions of workers paid meager wages for demanding and sometimes dangerous work.
"Winner Sells All is a tale of disruption and big-money moves, with legendary executives and fearless entrepreneurs in a battle -- between rival corporations and sometimes even within the same company -- to invent the future and cement their own legacies. Veteran journalist Jason Del Rey chronicles the defining business clash of this generation -- a war waged for our loyalty and our wallets, with hundreds of billions of dollars at stake and millions of jobs on the line. As both companies continue to expand their empires into new industries, Winner Sells All reveals how this battle will change the ways we shop, live and work -- for decades to come."
~~front flap
There's not much else to say about this book, except that the blurb gives the overview and the book provides the details and the minutia. I wasn't a big fan of either corporation and I've taken away a firmer conviction to deal with neither of them. (Except that my monthly benefits card is good only at Walmart or Safeway and Safeway is more difficult to get to.) I'd much rather deal with local businesses, that treat their employees right, especially small businesses.
November 4, 2023
A Goliath vs. Goliath story of Amazon vs. Walmart, perfect for fans of retail generally or anyone who likes a good business book.
There’s a lot to like about this: the inside view thanks to the author’s access to top execs at both companies; the (mostly) unbiased reporting of strategic choices and their success/failure that lets the reader choose whether to root for Amazon or Walmart (or both or neither); the narrative style that really makes you feel the panic and urgency, then the disappointment or pride of the authors of each strategic initiative…
I wish it could have had a broader scope and included other major retailers (Target got two mentions in passing, and Best Buy and CVS each got one). And I sometimes found the chronology difficult to follow, but I suppose that was to be expected, given the complexity of forming a coherent arc out of such a story. But overall it was a very enjoyable, solid read.
There’s a lot to like about this: the inside view thanks to the author’s access to top execs at both companies; the (mostly) unbiased reporting of strategic choices and their success/failure that lets the reader choose whether to root for Amazon or Walmart (or both or neither); the narrative style that really makes you feel the panic and urgency, then the disappointment or pride of the authors of each strategic initiative…
I wish it could have had a broader scope and included other major retailers (Target got two mentions in passing, and Best Buy and CVS each got one). And I sometimes found the chronology difficult to follow, but I suppose that was to be expected, given the complexity of forming a coherent arc out of such a story. But overall it was a very enjoyable, solid read.
July 19, 2023
Interesting read as a business book about the retail industry fighting it out on the web. It's not so insightful as a technology industry business book -- the author glosses over the technical side of things and doesn't seem to care about or understand the connections between technology and business. But still, enjoyable if you're curious about the personalities behind e-commerce.
February 15, 2024
Should’ve Been Shorter
If you like retail, want more insights & to walk away feeling you gained something then this isn’t the one. It should’ve been a 100 page book.
My advice? Skip this & buy The Everything Store. Almost 50% of the reference section is from that book anyway. Definitely not a recommend for me.
If you like retail, want more insights & to walk away feeling you gained something then this isn’t the one. It should’ve been a 100 page book.
My advice? Skip this & buy The Everything Store. Almost 50% of the reference section is from that book anyway. Definitely not a recommend for me.
October 11, 2025
I recently made a career switch into ecommerce strategy (actually working at Walmart, so probably can't comment too much on current developments!) and this book is truly fascinating - a really great history of how ecommerce has grown and developed.
The philosophies of the two orgs are almost opposites. Walmart is very frugal and conservative while Amazon is... not. It's been interesting to see as a consumer and now as an employee how the two big players have fed off of each other from starting in opposite positions - Walmart with its gigantic retail presence moving into ecommerce and Amazon with its giant ecommerce presence moving into retail.
The book delves into one of Walmart's biggest challenges, which is the fact that many in the retail space don't want to cede territory to the ecommerce space. Bezos has built Amazon into the behemoth that it is today in part by embracing a philosophy of "cannibalizing oneself" (which came up a few times in The Everything Store: Jeff Bezos and the Age of Amazon) and is a reason why Amazon has seen such monster growth.
I thought this was particularly interesting as well: “Walmart is strangely at its best when it almost isn’t focused on economics,” Osborne said, with a nod to the $4 generics initiative of the mid-2000s. “When it’s just saying, ‘I’m going to do something that dramatically improves the lives of people.’”
I don't particularly think it's "strange" considering Amazon's philosophy has been to be consumer-obsessed from day one and, again, is another reason why the company has seen such growth - if you can demonstrate value to your end consumers, you will succeed. Many company leaders tend to focus on the product, but if the product is the best-thing-in-the-world and doesn't actually solve a problem, it will be rendered useless.
Overall, a super interesting business read.
The philosophies of the two orgs are almost opposites. Walmart is very frugal and conservative while Amazon is... not. It's been interesting to see as a consumer and now as an employee how the two big players have fed off of each other from starting in opposite positions - Walmart with its gigantic retail presence moving into ecommerce and Amazon with its giant ecommerce presence moving into retail.
The book delves into one of Walmart's biggest challenges, which is the fact that many in the retail space don't want to cede territory to the ecommerce space. Bezos has built Amazon into the behemoth that it is today in part by embracing a philosophy of "cannibalizing oneself" (which came up a few times in The Everything Store: Jeff Bezos and the Age of Amazon) and is a reason why Amazon has seen such monster growth.
I thought this was particularly interesting as well: “Walmart is strangely at its best when it almost isn’t focused on economics,” Osborne said, with a nod to the $4 generics initiative of the mid-2000s. “When it’s just saying, ‘I’m going to do something that dramatically improves the lives of people.’”
I don't particularly think it's "strange" considering Amazon's philosophy has been to be consumer-obsessed from day one and, again, is another reason why the company has seen such growth - if you can demonstrate value to your end consumers, you will succeed. Many company leaders tend to focus on the product, but if the product is the best-thing-in-the-world and doesn't actually solve a problem, it will be rendered useless.
Overall, a super interesting business read.
October 2, 2023
I’m really not sure why, but I took a ridiculous amount of notes while I listened to this book. Usually, I take notes to help me remember. I consume enough information generally that things have a tendency to go in one ear and out the other if I’m not focused on remembering them.
While I learned quite a bit while reading this, I didn’t find any of the information revolutionary or surprising. It’s clear that the two companies have widely different cultures, and Walmart has struggled and essentially failed to adapt the stereotypical tech-business culture into its own in an effort to be competitive in the online market.
It took quite a long time for Walmart to begin leveraging its major advantage over Amazon in the online space: physical stores. The pandemic made grocery pick-up a popular option, and it is a service Walmart is much better placed to offer than Amazon. While Amazon provides superior delivery options, it struggles to make traction with grocery, which lead to its purchase of Whole Foods.
It’s interesting to observe these two companies work so hard to make progress into each other's area of advantage, but to date and hundreds of millions of dollars later there has been no significant change.
The one area both companies have tried unsuccessfully to crack is medical service. However, between the two of them, they have the power to create serious disruption in the pursuit of improving medical customer service and more importantly profit.
Coincidentally, I listened to the chapter titled “Amazon and Antitrust” the day after the FTC filed an antitrust claim against Amazon, and Lena Khan is the chair of the FTC.
For casual readers, this book is interesting but moves a bit slow. I’d definitely recommend it for anyone interested in business and technology.
While I learned quite a bit while reading this, I didn’t find any of the information revolutionary or surprising. It’s clear that the two companies have widely different cultures, and Walmart has struggled and essentially failed to adapt the stereotypical tech-business culture into its own in an effort to be competitive in the online market.
It took quite a long time for Walmart to begin leveraging its major advantage over Amazon in the online space: physical stores. The pandemic made grocery pick-up a popular option, and it is a service Walmart is much better placed to offer than Amazon. While Amazon provides superior delivery options, it struggles to make traction with grocery, which lead to its purchase of Whole Foods.
It’s interesting to observe these two companies work so hard to make progress into each other's area of advantage, but to date and hundreds of millions of dollars later there has been no significant change.
The one area both companies have tried unsuccessfully to crack is medical service. However, between the two of them, they have the power to create serious disruption in the pursuit of improving medical customer service and more importantly profit.
Coincidentally, I listened to the chapter titled “Amazon and Antitrust” the day after the FTC filed an antitrust claim against Amazon, and Lena Khan is the chair of the FTC.
For casual readers, this book is interesting but moves a bit slow. I’d definitely recommend it for anyone interested in business and technology.
November 23, 2023
This book and Walmart are why I never shop for anything other than groceries in retail stores. Walmart earns more than $1-million A MINUTE and their prices are comparatively much lower in the U.S. than they are for Canadian shoppers. Walmart is repeatedly sued for reverse discrimination, a form of discrimination affecting members of a majority group (such as Caucasians), since Walmart hires minorities, forgetting that both groups are subject to the same discrimination laws. Some of their employees at the Canadian store I shop in don't speak English. Even though my husband and I have spent $30,000 - $40,000 in their store, their massively incompetent store manager, insisted that I stop opening store boxes to shop for boxed dish sets that had uneven color and glaze. I was opening boxes that had been opened many times by other customers who found the glaze on the dishes defective.
January 14, 2024
I enjoyed reading this book, a very useful addition (and unknown) titanic battle between Amazon and Walmart in the ecommerce arena. The author knows the players well and writes with real authority on the topic as he was right there while the battle was being fought.
I would question the quality of the writing and some aspects of the story selected to be told. There are missing pieces that should have also been elaborated.
However on the overall it is an excellent business book. To me it pains a poor picture of both Walmart and Amazon in terms of their top leadership and the quality of their managers (despite their market position and media hype). I have had some experience with Amazon and the book doesn't come as a surprise.
I would question the quality of the writing and some aspects of the story selected to be told. There are missing pieces that should have also been elaborated.
However on the overall it is an excellent business book. To me it pains a poor picture of both Walmart and Amazon in terms of their top leadership and the quality of their managers (despite their market position and media hype). I have had some experience with Amazon and the book doesn't come as a surprise.
June 30, 2025
Rounded up to four stars.
Early on, the author insists this isn’t a book about access. Yet in the acknowledgments, he his sources as basically driving the book. The latter feels more honest: the narrative reflects who the author could speak with, and the story often seems shaped by those relationships.
It’s an engaging and informative read, especially for those who haven’t closely followed the past 15 years of retail competition. But the book has notable narrative gaps, likely due to limited access or perspective. Why did Amazon pull back from its physical store ambitions? Why was Flipkart a pivotal move for Walmart? (And PhonePe, oddly, isn’t mentioned at all.)
What do you learn from this book? A little. Enough for a good overview. But not enough to understand what’s coming next.
Early on, the author insists this isn’t a book about access. Yet in the acknowledgments, he his sources as basically driving the book. The latter feels more honest: the narrative reflects who the author could speak with, and the story often seems shaped by those relationships.
It’s an engaging and informative read, especially for those who haven’t closely followed the past 15 years of retail competition. But the book has notable narrative gaps, likely due to limited access or perspective. Why did Amazon pull back from its physical store ambitions? Why was Flipkart a pivotal move for Walmart? (And PhonePe, oddly, isn’t mentioned at all.)
What do you learn from this book? A little. Enough for a good overview. But not enough to understand what’s coming next.
June 20, 2023
Passed this book onto my husband since this is his sphere of influence in our house. He read it cover to cover in three days -- a quick pace for him. Said it had lots of interesting information and some things for concern. (Also said it could do with a little more editing.) A different view of two retailers that are a part of our everyday life.
I won a copy of this book in a Goodreads giveaway for this honest review.
I won a copy of this book in a Goodreads giveaway for this honest review.
June 25, 2023
Winner Sells All is downright fascinating. Del Rey adroitly details the struggles and clashes between Walmart and Amazon, but also each company's internecine ones.
I learned far more about Walmart than Amazon, but only because I've read both of Brad Stone's masterpieces on the latter.
Great read.
I learned far more about Walmart than Amazon, but only because I've read both of Brad Stone's masterpieces on the latter.
Great read.
September 6, 2023
I thought this book provided a lot of useful information on the battle between Walmart and Amazon over the years. The book recounted plenty of interesting insider stories along the way. Having said that, I thought the book should have done more to talk about the positives that have occurred from a consumer perspective from this battle.
January 22, 2024
Congratulate you on a well researched and insightful book! I can't imagine the endless hours of time and energy it took to put it together. For anyone who is interested in a behind the scenes look into the arms race to capture the ecommerce consumer then Winner Sells All is more than worth your time.
March 25, 2024
Great read for anyone interested in the world of e-commerce. Del Ray provides an in depth but easily digestible account of the “battle for our wallets” between Amazon and Walmart. While both are far from perfect (sometimes straight up evil) their competition is needed. “A world where one winner sells all is a world where everyone loses.”
January 28, 2025
There is so much information in this book that it often feels like reading a textbook. I enjoy reading about businesses, but this one had a negative tone and was repetitious. It was a slog to read at times.
I also did not appreciate the reporter drawing attention to himself with phrases like "I broke the story" or "I got wind of."
I also did not appreciate the reporter drawing attention to himself with phrases like "I broke the story" or "I got wind of."
July 10, 2025
If I was rating this book based on how much it emotionally moved me, then it of course would be getting 1 (maybe 2) stars. But for what this book is—an in-depth history book about the two biggest retailers in the world—it’s 5 stars. It wasn’t too dry, and it was very educational. Thanks to my mentor for gifting me this book. It’s a great one for people entering business-related fields.
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August 31, 2023Confusing at times
Very interesting book, particularly as I am a former grocery exec. However, the continued flipping back and forth between the two companies and in time confused me on occasion.
Very interesting book, particularly as I am a former grocery exec. However, the continued flipping back and forth between the two companies and in time confused me on occasion.
April 16, 2024
Very informative, it’s impressive that Del Rey has the inside information on these two Goliath’s. I was fascinated by how they continued to go directional change to directional change while waiting for the other to surrender.
June 29, 2023
Great, in depth, book with lots of insights and stories I’ve never heard before. A fun read for anyone interested in retail
July 3, 2023
Sharp, fact filled and firsthand. A great set of lessons of what Is happening in the world of digital commerce and business.
July 12, 2023
Fantastically reported book. My one criticism would be the premise that the rivalry between the two is a kind of fight to the death, which I don’t think is correct.
July 19, 2023
I never fully understand the great rivalry between Amazon & Walmart – Jason your story telling makes sure the book remains interesting and gives a real insight to how these companies operate.
August 15, 2023
3.5 stars
August 28, 2023
A look at the battle between Walmart and Amazon to control shopping.
September 6, 2023
Interesting account of the rivalry between Amazon and Walmart. If You've read about either company previously there isn't a ton of new info here
October 23, 2023
If my manager sees this I’m sorry, I learned some things but I did not enjoy this book 🤷🏼♀️
February 28, 2024
I enjoyed the tales of the mega merchants in their fight for supremacy.
September 12, 2023
While I love the journalism of JDR, I found the book a bit dancy an nonlinear (many books of this sub genre fall victim to this). While many new facts and stories came to light, I longed for it to be better woven into a richer fabric or outcome.
Displaying 1 - 30 of 34 reviews