Walmart's e-commerce benefits keep growing amid a rising economic crisis in the USA

August 22, 2023 by
Frank Calviño

Walmart's e-commerce benefits keep growing primarily due to its e-commerce platform. One of the world's largest retail groups, Walmart continued a trend of positive results in the second quarter of the year. The United States is going through a difficult period due to rising inflation. Still, the company has found the best strategy to overcome the difficulties: a policy of ultra-low prices mainly anchored on its e-commerce platform.

"We had another strong - positive - quarter. Around the world, our customers and members are prioritizing value and convenience," said Doug McMillon, Walmart's president and chief executive officer, in a press release, adding, "Food is a strength. Still, we are also encouraged by our results in general merchandise compared to our expectations when we started the quarter. Our associates helped deliver increases in the number of transactions and units sold, and earnings are growing faster than sales." 

The company's revenue came in at $161.6 billion ( around €148 million), representing a growth of 5.9% compared to the same period in 2022. Operating profit grew by 6.7% to 7.316 billion dollars (around 6.74 billion euros). And consolidated net income reached 7,891 million dollars, representing a significant increase of 53.3%.

Walmart advertising: a booming business

Another business line that has reported good results for the company has been advertising, achieving a worldwide increase of 35% compared to the previous year. Walmart advertising is done via all of the Walmart e-commerce and website properties, where the brand sells spaces for other companies or brands to showcase their services or products. 

Walmart's international business also did well, with net sales of 27 billion dollars (11% more than the previous year). The growth that the company relates in its press release to the results obtained from the sales of Walmex, China, and Flipkart, e-commerce sales, and advertising.

It also highlighted the results obtained by its Sam's Clubs brand, which closed the quarter with solid sales led by food and consumables and an increase in membership revenues of 7%.

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