Walmart’s total US retail sales in 2023 reached $533.96 billion, up 6.9% year on year, according to the National Retail Federation and Kantar.
Amazon ranked second among top US retailers by total sales, with $250.11 billion and 7.6% growth.
Amazon dominates e-commerce. According to EMarketer’s July 2024 projection, Walmart will account for 8.2% of retail e-commerce sales this year, and Amazon will account for 40.9%.
Walmart is making investments to close the e-commerce sales gap. For example, it employs automated warehouses to expand its marketplace operations and improve delivery speed.
According to EMarketer’s July 2024 forecast, Walmart’s retail e-commerce sales will expand 19.0% this year, outpacing Amazon’s 10.4%.
Increased sales will lead to greater retail media advertising opportunities.
Walmart’s retail media ad revenue will increase by 25.1% next year, hitting $4.65 billion, according to EMarketer’s March 2024 prediction.
Ariel Ben Solomon is the Growth and Strategy manager at Ecomhunt. He is the host of the Ecomhunt Podcast. Can be followed on Twitter at @ArielBenSolomon
