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Walmart has upheld its mission statement since its inception in 1962. The company’s enduring slogan, “We save people money so they can live better,” remains a guiding principle for the retail powerhouse even today. This commitment has been instrumental in fostering a solid and loyal customer base both domestically and internationally.
In 2022, Walmart held a market share of 6.3%, equivalent to $572 billion in sales within the United States.
In the first quarter (Q1) of 2023, Walmart achieved huge success, particularly in the eCommerce market. Walmart President and CEO Doug McMillon stated:
We had a strong quarter. Comp sales were strong globally with eCommerce up 26%. We leveraged expenses, expanded operating margin, and grew profit ahead of sales.
Walmart’s financial framework is geared toward achieving 4% sales growth and 4%+ operating income growth in the next five years.
For Walmart sellers, participating in the Walmart Marketplace enables them to be actively involved in Walmart’s ongoing growth. This year presents a promising opportunity for Walmart sellers to achieve substantial success as the marketplace continues to
grow and deliver a top-quality product selection.
Walmart provides sellers with an opportunity to showcase their products to Walmart shoppers. Notably, Walmart’s New-Seller Savings offers incentives and benefits designed to assist new sellers in launching their business on the Walmart Marketplace.
Moreover, Walmart makes it easier for online sellers to grow their eCommerce business through unique platform solutions and features. Among the features and solutions that Walmart provides to sellers to facilitate business growth are:
Smooth onboarding process for new sellers.
Zero monthly or setup fees.
Competitive commission structures.
Estimated 100 million unique monthly visitors to Walmart.com.
Innovative pricing, fulfilment, inventory management, advertising, and brand management solutions.
Walmart’s presence in the retail landscape, both in the United States and in the global market continues to grow.
Walmart became the world's largest private employer in 1999, and by 2001 Walmart became the largest corporation in the world.
Walmart expanded its eCommerce venture in 2016 when it acquired the eCommerce sites Jet.com and Hayneedle.com.
It is estimated that around 85% of Walmart online shoppers make one purchase per month.
In 2022, the top 5 Walmart categories included Prestige Beauty, Cameras, Automotive Tires, Wireless Accessory, and Audio category.
Walmart's global brand value has consistently increased over the past years, from $53.6 billion in 2016 to $111.9 billion in 2022 and further to $113.7 billion in 2023.
For the Q1 of 2023, Walmart's reported revenue was up 7.6%, which is $152.3 billion.
Walmart's U.S. eCommerce growth for the Q1 of 2023 reached 27%.
The reported Q1 net sales of Walmart International were over $26 billion.