Walmart’s ecommerce sales grew 97%, with revenue climbing 5.6% to $137.7 billion

New Ideas in MarketingEssential news for marketers, summarised by YouGov
August 19, 2020, 11:43 AM UTC

The retailer’s operating income increased 8.5%, to $6.1 billion.

Despite COVID-19, Walmart’s revenue increased 5.6% to $137.7 billion, as its ecommerce sales improved 97% in all channels, according to a recent TABS Analytics report. Walmart retained about 30% of sales in the US. Overall ecommerce grocery sales in the US increased 15% YoY.

Also, Walmart’s membership program, Sam’s Club, division quarterly membership income reached a five-year high, with over a 60% increase in new members. However, Amazon’s ecommerce sales share dropped more than five points to 27%, and Target’s diminished to 11%.

Comparable sales in the US increased 9.3% to $93.3 billion powered by good traction in general merchandise and food and also stimulus checks being a factor. Other companies like Fresh Direct, NetGrocer and PeaPod saw transactions go up 140%.

Read the original article

[2 minute read]