- Walmart’s U.S. e-commerce sales grew 27% year-over-year in the first quarter of 2023.
- This was the biggest increase for the retail giant since the first quarter of 2021.
- An app redesign, membership growth, and third-party seller growth all contributed to the surge.
Walmart appears to be recapturing some of the magic of online sales that made e-commerce revenue soar in the midst of the pandemic.
The retail giant reported Thursday in the US: Increase in e-commerce sales The first quarter was up 27% year-on-year, the fastest pace of growth since the first quarter of 2021, when it jumped 37%.
Walmart has recently redesigned its app and website, expanded the number of third-party marketplace sellers, and promoted a membership program, Walmart+, which is the company’s take on rival Amazon Prime. , is focusing on e-commerce business.
Throughout 2020, Walmart US e-commerce sales surged as customers stayed home and bought more groceries and sundries through walmart.com and the Walmart app. For the second quarter of 2020, Walmart reported 97% year-over-year growth in e-commerce.
Over the next year, Walmart’s e-commerce growth naturally declined as more shoppers returned to stores. But Walmart continues to push its e-commerce offerings, with executives saying on Thursday’s earnings call that strong online sales are being driven by the popularity of pickup and delivery.
“We have an advantage here because we are leveraging store proximity to fulfill and deliver digital orders to customers,” said Walmart Chief Financial Officer John David Rainey. said at an earnings conference with analysts.. As Walmart likes to advertise, he has 4,600 stores across the country, so 90% of his Americans live within 16 miles of a Walmart store.
Here’s a breakdown of Walmart’s U.S. e-commerce sales year-over-year for the past nine quarters:
- Q1 2021: 37%
- Q2 2021: 6%
- Q3 2021: 8%
- Q4 2021: 1%
- Q1 2022: 1%
- Q2 2022: 12%
- Q3 2022: 16%
- Q4 2022: 17%
- Q1 2023: 27%
Walmart’s e-commerce growth contributed to the company’s overall strong quarter, with sales up 7.6% year-over-year.
What are your thoughts on Walmart’s e-commerce business? Email Ben Tobin at btobin@insider.com.
