Walmart revamps digital site as demand for e-commerce continues
E-commerce may reach 27% of retail sales by 2026, a Morgan Stanley equity analyst said
Walmart announced the first phase of its store redesigns in a company blog last year sharing that nearly 1,000 stores have been renovated with the new design.
Walmart is revamping its online store as demand for e-commerce shopping continues.
In a Monday blog post, Tom Ward, senior vice president of customer products at Walmart, announced that the world's largest retailer is rolling out a redesigned homepage for its online marketplace, which continues to add more brands and items.
The Arkansas-based company's new website boosts better images and live video and "is optimized to better bring Walmart’s massive assortment to life, including a new social-inspired scroll," Ward said.
MORE PEOPLE ARE DELAYING PAYING UP FRONT
Over the past year, Walmart touted that it made hundreds of enhancements "to transform the core digital experience."
The latest upgrades are intended to lure in even more shoppers as online shopping remains resilient despite the challenging microenvironment.
Walmart revamps its online marketplace. (Walmart )
During the coronavirus pandemic, especially at the height of the lockdown, e-commerce orders surged out of necessity. However, consumers are shopping online shopping more than ever before.
AMAZON STOCK DROP HAS WORKERS FACING PAY SQUEEZE
According to government data, total e-commerce sales for 2022 were estimated at $1.03 billion. That's an increase of 7.7% from 2021. Overall, e-commerce sales in 2022 accounted for 14.6% of total sales.
Morgan Stanley projects the e-commerce market will continue to grow.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WMT | WALMART INC. | 84.25 | -0.22 | -0.26% |
"We believe that the Covid-driven bump will not flatten future e-commerce growth," Brian Nowak, an equity analyst covering the U.S. internet industry, said in a June 2022 report. "Across the world, we have yet to see a ceiling for e-commerce penetration."
Nowak estimated that e-commerce will reach 27% of retail sales by 2026.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Former Walmart U.S. CEO Bill Simon joined ‘Fox & Friends Weekend’ to discuss the nationwide spike in layoffs that have now extended beyond the Big Tech industry.