Walmart had a stellar Q3 2024 performance, with a reported $169.6 billion in sales, a 5.5% year-over-year increase, along with a 27% surge in global eCommerce sales. This growth reflects Walmart’s successful omnichannel strategy, combining in-store and digital experiences to meet evolving customer demands. Moreover, for sellers, these results signal significant opportunities to tap into Walmart’s expanding marketplace ecosystem.
Key Highlights
- Revenue Growth: Walmart reported $169.6 billion in sales, a 5.5% year-over-year increase
- eCommerce Surge: Global e-commerce sales grew by an impressive 27%, driven by marketplace growth and improved fulfillment services
- Adjusted EPS: Beating expectations, adjusted EPS stood at $0.58
- U.S. Performance: Walmart U.S. same-store sales rose 5.3%, supported by strong omnichannel sales growth
- Guidance Update: Walmart raised its FY25 guidance, forecasting adjusted EPS between $2.42–$2.47 and sales growth of 4.8%-5.1%
What It Means for Walmart Sellers
With a 27% surge in global eCommerce sales, Walmart’s marketplace is becoming increasingly competitive, especially as it emphasizes enhanced fulfillment and advertising capabilities like Walmart Connect, which grew 26%. Additionally, you can tap into Walmart’s growing consumer base and leverage its logistics network for increased visibility and faster deliveries.
Key Predictions Based on These Results
- Increased Marketplace Participation: More third-party sellers are expected to join Walmart’s marketplace, attracted by its robust growth.
- Focus on Value Products: Walmart’s low-price strategy will likely appeal to budget-conscious consumers during potential economic slowdowns, creating a demand for competitively priced products.
- Enhanced Advertising Opportunities: The 28% growth in Walmart’s global advertising segment hints at new tools and services for you to enhance your product reach.
What Walmart Is Doing Well
- Omnichannel Strategy: Combining in-store pickup, delivery, and marketplace growth to cater to diverse customer preferences.
- Efficient Fulfillment: Enhanced logistics capabilities like store-fulfilled delivery are driving eCommerce growth.
- Advertising Innovation: Walmart Connect’s advancements allow sellers to better target audiences, improving ROI.
How You Can Benefit
- Marketplace Exposure: With growing consumer traffic, you can capitalize on increased visibility.
- Advertising Tools: Leveraging Walmart Connect for precise targeting can boost your sales.
- Logistics Network: Partnering with Walmart Fulfillment Services ensures faster delivery and customer satisfaction.
TL;DR
Walmart’s Q3 2024 results showcase a strong revenue growth of $169.6 billion, with eCommerce sales surging 27%. Also, the platform’s omnichannel strength and growing marketplace provide sellers with significant opportunities to expand their reach and sales.
Walmart’s stellar Q3 performance highlights its evolution as a leader in the retail and digital marketplace sectors
Additionally, for sellers, the insight lies in Walmart’s strategic use of its physical stores as fulfillment hubs, which directly enhances delivery speeds and customer satisfaction. This positions Walmart as a competitive alternative to other major marketplaces, especially for sellers targeting value-conscious buyers who prioritize convenience and cost-effectiveness.
At CedCommerce, we see immense potential for sellers to use Walmart’s advanced advertising tools and fulfillment services to optimize reach and scale their operations.
Source: Benzinga