Did Walmart peak in 2009?

An analysis from Supply Chain Digest shows that the company’s share of U.S. retail sales has been on the decline for the past four years:

WMT vs. US retail sales

So what’s behind the drop? Amazon’s superiority in e-commerce? The ill-fated experiment that was Project Impact? The recession? All of the above?

Mike Duke became CEO in February 2009 and is reportedly getting closer and closer to his retirement date. (Coincidence that 2009 is the year that the decline began?) We can add this slide in the company’s share of retail sales to the growing list of problems (bribery scandal, supply chain human rights disasters, labor unrest…) that his replacement, whoever he or she may be, will have to solve.

What do you think?