Домой United States USA — Financial Walmart’s Online Sales Have Surged 74% During The Pandemic

Walmart’s Online Sales Have Surged 74% During The Pandemic

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The retail giant benefited from a spike in demand for grocery and essential goods.
Contrary to the overall U. S. retail market results ending Q1, down 2.9% for the 13 weeks ending May 2, there was solid performance by Walmart driven by grocery, essential goods and strong digital commerce. Walmart’s net sales increased by 10.5%, with e-commerce sales up 74% as stated in the investor call today.
“Despite a tumultuous Q1 for many companies, the coronavirus created a huge opportunity for Walmart to capture market share,” said Kunal Chopra, CEO of etailz.
Consolidated shopping trips by customers resulted in 5.6% fewer transactions, however, the amount spent per shopping trip increased by 16.5%. The decrease in shopping trips to the physical stores is due to government mandates to stay home and a shift to items being purchased online. Top categories were grocery and health/wellness followed by general merchandise.
Walmart’s Five Pillars
Walmart’s president and CEO, Doug McMillon, discussed the company’s focus around five core pillars including employees, customers, business partners, managing financial metrics and driving future performance.
As a result of following government mandates and CDC protocols and other measures around protecting customers and employees, Walmart incurred $670 million in incremental expenses. While the company experienced a 5.5% increase in operating expenses, it generated a net income increase of 3.9% on the bottom line.
Taking care of employees
McMillon stated in a press release today, “More than ever, the news this quarter is our amazing associates. They are rising to the challenge to serve our customers and our communities. I’m proud of how they’re adapting and performing.” The employees are the ones who are literally at the front lines every day serving shoppers. The flexibility required to adapt to the changing business climate, new safety protocols and government regulations is a call to action that is being answered across many retail stores including Walmart.

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