Data suggests Walmart is set to become the world's top retailer

8 Oct 2020

Research data suggests that Walmart will become the top retailer in the world in 2020. The data, analysed by ComprarAcciones.com, indicates that Walmart will rake in $527.8bn in revenue, followed by Amazon with a projected $268.2bn and Costco with an estimated total of $156.6bn.

Image credit: Fabio Bracht on Unsplash

Together, the three retail giants are expected to make $952.6bn.

For the 12-month period that ended on 31 July 2020, Walmart’s revenue totalled $542.06bn, a 4.64% gain year-on-year. According to its earnings results for Q2 FY21, its e-commerce sales during the period surged by 97% from a year ago.

Walmart’s US e-commerce sales totalled $10.7bn, accounting for 11.4% of US net sales. During the previous year’s quarter, total US e-commerce sales were $5.4bn, 6.34% of US net sales. Operating profits in Q2 FY21 grew 8.5% to $6.1bn.

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Moreover, the company has been making moves in fast-growing economies like China and India. In China, during Q1 FY21, it saw an 11.7% gain in comparable-store sales and a 160% increase in e-commerce sales.

On the other hand, Amazon’s Q2 2020 was its best quarter yet in terms of online sales. Its online grocery sales tripled on an annual basis while online net sales totalled $45.8bn. The latter marked a 49% gain year-on-year, eclipsing the previous record of $45.7bn, made in Q4 2019.

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However, Amazon’s physical retail sales dropped by 13% year-on-year to $3.8bn. Its net income doubled to $5.24bn from $2.63bn. International net sales soared by 41% during the quarter with an operating income of $345m.