Walmart reported that at the beginning of the holiday shopping season, third-party sellers enjoyed record sales volumes.
The mentioned company’s Marketplace saw its highest-ever sales day and also set a single-day conversion rate record during the period between Nov. 25–Dec. 2, or Cyber Monday. The retail giant published the relevant information last Tuesday, December 3.
The company claims that the record figures have become a fact of objective reality in large part due to the intensive growth of its e-commerce business. Over the last quarter, the mentioned grew by 22%. Sales at the Walmart Marketplace increased by 43% over the specified period. It is worth noting that for five consecutive quarters, there has been an increase in the corresponding indicator by more than 30%.
Walmart also stated that its Marketplace is gaining more and more high-income shoppers. During the last quarter, around 75% of the company’s market share gains came from households earning upwards of $100,000 annually.
Walmart stated that gains generate exciting opportunities for premium brands and categories in its Marketplace. In the relevant context, it was noted that high-income customers demonstrate a greater propensity to spend on both discretionary and grocery purchases.
Walmart management also stated that one of the growth factors was the blurring of the line between digital and physical channels.
The company’s chief executive officer Doug McMillon noted that in an omni world, the firm has the opportunity with brands and presentations to increase its market share in some categories. According to him, the corresponding e-commerce opportunity is kind of bearing out as Walmart’s product assortment expands. He also noted that the company is able to appeal to more people and appeal to a higher income level.
Also this week, Walmart’s main competitor, which is Amazon, said it also had record sales during the Black Friday week/Cyber Monday period. In the period from Nov. 21 to Dec. 2 in the corporate space of the mentioned rival of the company led by Doug McMillon, third-party sellers accounted for more than 60% of sales.
It is worth noting that recently, in terms of such an indicator as sales volume, Cyber Monday has surpassed Black Friday. The corresponding tendency was observed in 2021, 2022 and 2023. Last year, during Cyber Monday, the volume of sales in monetary terms amounted to $12.4 billion. This figure is $2.6 billion higher than the result of Black Friday. According to media reports, citing experts, the relevant tendency is largely related to the digital muscles of Cyber Monday.
This year, the volume of sales on Cyber Monday was recorded at $13.3 billion. A similar result on Black Friday was $10.8 billion. The relevant data was released last Tuesday, December 3, by Adobe Analytics. In this case, there is an increase in sales on Cyber Monday year-on-year. The difference between the mentioned indicators and the results of Black Friday is also growing. It is highly likely that this tendency, which is already showing signs of sustainability, will continue next year.
As we have reported earlier, Walmart Shares Demonstrate Significant Growth.
