Walmart and Box Stores Seeing Huge Increases

When the going gets tough the tough go shopping, the adage says, and the Covid pandemic has provided the documentation of its validity.

Sales at Walmart stores are up 9.3% relative to last year, but the real story is online shopping, and Walmart has thrown its hat in the ring to compete with big boy Amazon.

“They’ve actually doubled their online sales recently, as has Target,” says University of Houston professor Dr. Barbara Stewart, who teach global retailing and consumer science. “Walmart is starting tested trials called Walmart Plus. It will be a subscription service that will be home delivery.”

The CEO of Walmart said earlier this week he’s holding a launch date for Walmart+ close to his vest for now, undercutting Amazon Prime with a subscription rate of $98 a year. It’s rumored the service will include same-day delivery for food items and offer fuel discounts similar to grocery stores.

The Covid pandemic has also been a boon for Lowes and Home Depot as homeowners tackle repairs to pass the time. This past week Home Depot reported a 23.4% increase in sales, more than twice what analysts expected.

“Home Depot is up close to 25%, Lowes reports sales up about 35%,” adds Stewart. Lowe’s has seen online sales surge 135% since the pandemic began.

photo: getty images

Sponsored Content

Sponsored Content