Walmart’s (NYSE: WMT) domestic sales may have stumbled, but its online presence is still dominant. July Comscore figures show that Walmart’s sites had 38.7 million unique visitors. That is nowhere close to the world’s largest e-commerce company Amazon.com (NASDAQ: AMZN), which had 87.1 million unique visitors.
But, Walmart far outdistances is primary rival, Target (NYSE: TGT). The number two big-box retailer had 26.5 million unique visitors in July. No other bricks-and-mortar retailer joined these two on the top 50 list.
The news may be good for Walmart, but it is bad for rivals Costco (NASDAQ: COST), Best Buy (NYSE: BBY) and Sears Holdings (NASDAQ: SHLD), which owns Kmart and Sears. It is widely believed among analysts that e-commerce is the single most critical part of the retail industry, and that importance will only grow.
The trouble for the tier of retailers below Walmart and Target is that there is likely no way for them to increase their online presences. Amazon is the destination of choice for e-commerce shoppers, and the array of products that it offers now approaches what most department and discount stores offer on their websites and in stores as well. This has begun to leave the bricks-and-mortar businesses to make what money they can on customers who insist on seeing and comparing items physically. That may not even hold customers who “shop” in stores and then go online to get their best bargains.
The Comscore data is bad for 99% of the retail industry, and the problem worsens by the day.
Douglas A. McIntyre
The Average American Has No Idea How Much Money You Can Make Today (Sponsor)
The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.
But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.