Walmart expects its massive growth in online sales in the United States to continue next year
The world’s largest retailer, for years slow to respond to Amazon.com in the digital wars, has been on a tear in recent quarters, helped by the $3 billion acquisition of jet.com and overhaul of its marketplace last year, and by better integration of its stores with its digital business.
The result was a 60% growth in U.S. e-commerce sales in last quarter.
And Walmart says e-commerce sales in the United States should rise 40% in the fiscal year ending in early 2019.
Former jet.com CEO Mark Lore heads up Walmart eCommerce U.S
Last year, Walmart tapped jet.com CEO Marc Lore to head up its U.S. efforts after online sales growth had slowed under his predecessor. The company has also been on a shopping spree, snapping up smaller e-commerce players like ModCloth, Moosejaw, and Bonobos.
Doug McMillon, Walmart President and CEO:
“We have good momentum in the business, we’re executing our strategy and moving with speed to win with the customer, who is more connected than ever and embracing tools that will save them both time and money.”
“We’re combining the accessibility of our stores with eCommerce to provide new and exciting ways for customers to shop.”
“I’m proud of the team we have in place, the work we have underway and how we are positioned for success in the future."
Walmart accomplishments in the past year include traffic and comp sales improvements, strong eCommerce growth and expanded online assortment, two-day free shipping with no membership fee and over 1,000 online grocery pickup locations.
Innovations around the world include one-hour delivery from stores in China, commitments to sustainability, service to communities, especially in times of disaster, and investments in associates that are empowering them to drive results and better serve customers.