Although Walmart feared that Amazon will slow down its online sales, Walmart has seen an incredible climb in sales during the holiday period, increasing the sales revenues by 43%.
Additionally, the company’s representatives stated that they will increase the sales growth by 35% in the following period by the end of 2019, despite having a strong competitor in Amazon.
In the meanwhile, as Walmart is recording increased sales growth in the last several months, Amazon stocks seem to be dropping as the company saw the product sales climb by around 20% in 2018 and only 8% in the fourth quarter of the last year.
Walmart CEO Claims the Company is Making Progress in E-Commerce
The retail leader and online retail superstar, Amazon, earned over 141 billion dollars in product sales during the year 2018, showcasing 19% of additional growth in oppose to the previous sales generated in 2017 in total of 118,57 billion dollars.
However, Walmart, a well-known chain of retail stores in the US, has taken a major step forward in terms of building Walmart e-commerce platform that already brought 43% of growth to Walmart sales during the holiday season.
On the matter of building a reputation for Walmart as one of the leading e-commerce platforms, the CEO, Doug McMillon, stated that the company is making a major progress in this area, reporting that they are focused on earning repeated visits from customers that have already made purchases in their e-commerce store, and “strengthening their assortment of merchandise”.
As further stated by the CEO, Walmart has been investing in enabling greater search functionality in order to provide their buyers with a smooth user-end experience. With improved search functionality, the e-commerce platform is making it easy for their customers to find the products they need, as well as manage products reviews.
Walmart is also set to improve the speed of deliveries, and with more room for improvements, Walmart e-commerce might be looking at more sales in the upcoming period, that way generating more revenue and driving more value to WMT stocks in the market.