Bentonville, Arkansas, U.S.A.-based Walmart’s e-commerce and grocery sales soared in its fiscal Q3 2024.
Walmart’s e-commerce sales jumped up 24 percent compared to Q3 2023, and comparable store sales grew 4.9 percent at Walmart stores and 3.8 percent at Sam’s Club stores.
Walmart, which operates more than 4,600 stores and nearly 600 Sam’s Club stores in the U.S., said its strong quarter was led by sales of grocery and health and wellness products.
Insider Intelligence Principal Analyst Suzy Davidkhanian said Walmart continued to have a strong foothold in grocery and the retailer “crushed its near-end competitors in Q3 by mastering a high-low household income branding and merchandising strategy.”
Walmart is well-positioned for continued strong sales growth, particularly in grocery, due to “expected continued consumer anxiety heading into an election year,” Davidkhanian told SeafoodSource.
Walmart CEO Doug McMillon said on an earnings call that he expects further deflation on seafood and other products, which should help ease consumers’ economic concerns. McMillon predicted deflation on key grocery items, such as eggs, chicken, and seafood, and higher-priced pantry staples should also start to decline in the coming weeks and months, CNBC reported.
“In the U.S., we may be managing through a period of deflation in the months to come. And while that would put more unit pressure on us, we welcome it, because it’s better for our customers,” McMillon said.
Walmart has realized such significant growth in e-commerce this year that Insider Intelligence predicts it will …
Chart courtesy of Insider Intelligence
