Walmart disappointed investors when its digital sales grew just 6% in the second quarter. The e-commerce business is a key piece of Walmart’s future growth, and it’s falling further behind its bigger competitor, Amazon.com.
But a small slice of Walmart’s e-commerce business nearly doubled: the company’s advertising business. It saw very strong demand, which should lead to sustainable growth, and the high-margin revenue stream could fuel Walmart’s e-commerce growth with good execution.
Revenue from Walmart Connect — the retailer’s e-commerce advertising program — grew 95% in the second quarter. That outpaces Amazon’s stellar growth of about 87% for its advertising business.
Read more: https://www.nasdaq.com/articles/this-tiny-business-is-key-to-walmarts-e-commerce-success-2021-08-28
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