Walmart Crushes Sales, Overtakes Amazon In E-Groceries In The Fastest Growing Vertical
Walmart just released blistering-hot financial results, crushing expectations. And for the first time, the retailer has topped Amazon in share of grocery transactions.
Walmart, based in Bentonville, Arkansas, says revenue climbed 5.6% to $137.7 billion on a currency-adjusted basis. Comparable sales in the U.S. jumped 9.3%, powered by gains in general merchandise and food, with Americans spending $93.3 billion. And ecommerce sales soared 97%, with strength in all channels. Operating income rose 8.5%, to $6.1 billion.
The results show just how many ways Walmart has gained from the COVID-19 crisis. General merchandise sales benefited from the use of government stimulus checks. Food sales advanced in the high single digits, with big advances in household chemicals and paper goods. Pickup and delivery services keep hitting continued all-time high sales volumes.
Another indication of shifting shopping patterns comes from the company’s Sam’s Club division. There, quarterly growth in membership income hit a five-year high, with new members increasing over 60%.
There are 2 important things you need to take from it:
First is the home delivery vertical or what is called e-groceries vertical is the fastest growing one and could be a great opportunity for you.
The second one is that Walmart is showing its strength on adapting to the COVID-19 pandemic era and you should look into becoming Walmart’s vendor or affiliate.
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