Walmart’s US e-commerce sales grew by 17%, while global e-commerce sales grew by 23% year-on-year, according to the company’s latest earnings report.
The overall growth in e-commerce earnings was attributed to increased online orders, a 20% increase in sellers, and a 22% increase in advertising sales on its retail media platform Walmart Connect.
The year-on-year total comparable sales growth for Q4 in Walmart’s 2024 fiscal year decreased. Yet e-commerce contribution to Walmart’s comparable sales growth rate in the US went up from 1.4% in Q4 FY23 to 2.4% in Q4 FY24.
Walmart US reported 4% overall growth, with sales reaching $117.6bn in the 13 weeks to 27 January 2024, up from $113.7bn a year ago.
Outside of the US, Walmart reported total global revenue of $173.4bn, with e-commerce contributing $30bn, which formed 18% of net sales. In its earnings report for fiscal year 2024, its international operations reported 21% growth in its net e-commerce sales in Mexico, 11% in Canada, and 11% in China for Q4 that ended on January 26 2024. Overall, Walmart has e-commerce websites in 19 countries, according to its statement.
Along with the earnings report, Walmart announced its decision to buy Vizio, a television manufacturer brand that also provides an operating system, advertising and data solutions.
“Our technology will help bring a scaled, connected TV advertising platform to Walmart Connect,” said William Wang, chief executive officer of Vizio. The Walmart Connect business’s ad sales increased by 22% in its fiscal year 2024.
