After technology, it was the turn of defensive stocks, particularly those of distribution, to suffer on the stock market this week. Walmart and Target, the two American retail giants, fell sharply after reporting quarterly results weakened by rising costs and wages.
Consumers are also bearing the brunt of this inflation. In the United States, it is at record levels: over one year, food prices have increased by 8.8% to 9.2%, those of gasoline by 48%. And while Walmart, like its French counterpart Carrefour, announces that it is investing massively in the metaverse, we wonder: what is the merit of a world of virtual distribution, when physical distribution is sinking into the doldrums?