Walmart Is Giving Amazon Some Competition in E-commerce | Marker - Marker

After years of flailing, the big-box giant seems to have figured out this whole internet thing

4 hours ago·2 min read

Number of the Day: 97% — How much Walmart’s U.S. e-commerce sales grew, on an annual basis, in the second quarter of 2020. — Photo illustration, source: the_burtons/Moment/Getty Images

97%: That’s how much Walmart’s online sales grew in the second quarter of 2020, compared to the same period last year.

It was a remarkable performance for the big-box giant, particularly considering Walmart’s reputation as a laggard when it comes to e-commerce. It has long appeared to be fumbling around in response to rival Amazon’s expansion: That includes its big bet on online retailer Jet.com, a $3.3 billion acquisition that it shut down in May, in a move that might have looked like yet another setback. But now it seems that Walmart’s e-commerce arm (headed by Jet.com’s founder, Marc Lore) has found its footing, adding online-ordered curbside pickup options to the mix.

This surprising bump in online orders was an exclamation point on a blowout quarter, with same-store sales up 9.3%. A few other big retailers saw similar boosts: Home Depot’s sales were up 23%, Lowe’s up 35%, and Target’s (which also benefited from embracing curbside pickup) up 24%. Lots of people love to hate on the “big box” store phenomenon (seemingly showing its age as a relic of the ’80s and ‘90s), but it seems that when tested, these giants can keep up.

In short: Amazon won’t be eating Walmart’s lunch anytime soon.