Walmart Is Seeing Sales Skyrocket for This Reason
This just in: Walmart has had a record-breaking growth in online sales. Aside from buying electronics and toys, there's another feature people have consistently relied on since the start of the pandemic: Ordering their groceries online.
Even though restrictions have eased in almost every state now, and with the COVID-19 infection rate dropping in various places (including the former epicenter, New York City, where the rate of infection is now lower than 1%), Americans remain precautious. For places like Walmart that offer both a same-day grocery delivery service and curbside pickup, the demand for ordering groceries online is unwavering.
Walmart first noticed a dramatic shift in its online sales during the initial lockdown after most people received the first wave of stimulus checks. However, as those funds dwindled, Walmart's sales returned to normal by July, having only increased by 4%. Still, even with that slight drop last month, the brand nearly doubled in online sales during the second quarter, which was enough to leave a substantial mark.
"We saw stronger-than-expected sales due in large part to stock-up buying and stimulus spending," said Chief Financial Officer Brett Biggs on a call with investors, Reuters reports. "But the duration and extent of future government stimulus remains uncertain."
Of course, back to school shopping looks a little different this year, with some kids returning to the classroom and others completing the majority of their schoolwork from home. Other school districts still aren't certain about when they will be sending kids back, which has also likely contributed to lower sales in that department. However, if the second wave of stimulus checks is approved—which could be underway as early as September—it could potentially sustain Walmart's momentum with online sales.
In addition to Walmart's same-day grocery delivery service, the brand's pickup service has also been driving online sales as it eliminates the step of perusing through the store and having to interact with other shoppers and staff.
For more, check out these 25 Cheap Walmart Buys That are Totally Worth It.