Walmart E-Commerce Revenue Tops $10 Billion in FY2014
Feb. 24, 2014
At the world’s largest retailer, overall sales are growing slowly, but e-commerce sales are surging. Walmart told investors and analysts at a Feb. 20 earnings call that its year-over-year sales grew 1.6 percent in 2014, while revenue from the e-commerce channel grew by 30 percent, eclipsing $10 billion.
“We know that technology is changing how customers around the world shop, and we are changing with them,” said Walmart CEO Doug McMillion.
Along with the rest of the retail industry, McMillion said Walmart is embracing an omnichannel strategy, noting the opportunity to leverage e- and m-commerce to “create transformative growth.” He said Walmart has an opportunity to upgrade the digital experience through investment.
“Over the past year in particular, we have invested more significantly to improve our customer experience and fulfillment capacity,” McMillion said. “Cycle times on e-commerce related to capital investments are much more fluid than those for stores, so we can move faster and make decisions with speed. We’ll increase our e-commerce investment as opportunities present themselves.”