It's very easy, people have been buying from Walmart longer than Amazon.

edit: Walmart has enough cash to copy Amazon in everyway at a discount-Walmart has been watching Amazon very carefully and is able to learn without failing or expending capital.

When the capex fails to yield the returns investors were hoping for, it will significantly hurt confidence in Amazon.

Amazon is built upon share price. When it goes down so does it's survival prospects. Nothing goes up forever.

Walmart on the other hand is far more robust and stable. When Amazon trips, Walmart would be in a very good position to put the final blow.

Yet the market continually overvalues Amazon. I actually saw someone comparing Amazon to Weyland-Yuteni from Aliens!

> Walmart has enough cash to copy Amazon in everyway

Reality does not work that way, sometimes a cash rich company just does not get it.

Since you are so confident about the future I assume you have shorted Amazon and gone long on Walmart.

I know some folks who prefer Walmart because of the price of entry ( Amazon Prime yearly fee ) is a big turn off for them. I suspect there will always be an extremely price sensitive crowd that will prefer Walmart if they can save even a few dollars and take the risk on easy customer service / returns.