eMarketer Drops Word on Walmart Earnings, Mobile Payments, and More
It’s one of the biggest brick-and-mortar retail operations around, and increasingly, it’s a major online shopping phenomenon too. Walmart has fundamentally changed the retail landscape, and it’s poised to release its earnings report coming up. Recently, eMarketer dropped word our way surrounding Walmart’s numbers—both Walmart and Sam’s Club—and what those numbers revealed was a juggernaut in progress.
In 2018, the eMarketer report noted, Walmart took four percent of the ecommerce market, and 0.4 percent of the overall retail market in the US. With this latest surge, Walmart is now the third largest online retailer, behind Amazon and eBay. Walmart managed to knock Apple out of the number three slot thanks to these numbers, and it’s poised to carry on in grand style.
While its third-quarter numbers were staggering—$124.89 billion on the quarter and up 1.4 percent over the previous year’s third quarter—its ecommerce numbers were almost more so. It pulled in $7.12 billion from online orders, which was up 50.6 percent over the same time the preceding year. For the quarter, ecommerce actually accounted for 5.7 percent of Walmart’s overall revenue.
Meanwhile, Andrew Lipsman—eMarketer principal analyst—noted “Walmart’s business has benefitted from strong retail channel growth throughout 2018 at both brick-and-mortar and online, and there was no let-up in Q4. Continued investments in the store experience and excellent omnichannel execution ensured Walmart was well-positioned to take advantage of the economic tailwind during the 2018 holiday season.”
Given that eMarketer projects that total ecommerce in the US will reach $600.60 billion, up 15 percent over last year, Walmart’s push here is pretty substantial. Sure, it’s a little over one percent of the projected new total, but for a company that only recently got involved in ecommerce, that’s no mean feat. The good news here is that Walmart has already made serious inroads and has the potential to make more. It’s got some seriously big shoes to fill here, though–trying to beat Amazon on general merchandise and eBay on used merchandise is going to be nigh-impossible—but if Walmart can discover some serious secret sauce innovation—maybe focusing on its grocery line–then it could really take off.
Only time will tell how Walmart does down the line, but right now, it’s doing quite well, and could well carry on doing so until it even dethrones eBay.