Walmart’s e-commerce sales have grown 74% during the current quarter, knocking eBay out of its spot as the second most popular online retailer and positioning Walmart as a potential rival to reigning king Amazon if it continues its current trajectory. This increase was mainly due to high online grocery sales as a result of the COVID-19 pandemic. However, even with this likely temporary boost, Walmart only accounts for 5% of online sales in the US compared to Amazon’s 39%; Amazon is not in any real danger of losing its top status. Walmart has also faced additional costs due to the pandemic that have made this period of growth slightly less profitable than it would have been in normal conditions – the company’s net profit increase is just under 4%, or $4 billion.
Walmart’s Online Sales Surge as Company Becomes Amazon’s Biggest E-Commerce Rival