Walmart reveals international sales numbers; Flipkart leads the chart
Category: #retail  By Saipriya Iyer  Date: 2020-02-20
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Walmart reveals international sales numbers; Flipkart leads the chart

American multinational retail company, Walmart, Inc. has recently revealed that ecommerce has led to 12% to its international sales. Apparently, these sales were led by its online grocery delivery platform and Flipkart.

In its Q4 earnings report, Walmart revealed that its international sales had reached $33 billion, going up by 2.3%. These promising numbers come amidst the disruption that negatively affected Walmart in Chile, impacting operating income by $110 million.

Reportedly, Flipkart has had more than a billion visitors in a month, with transactions per customer increasing by 30% in the last one year and monthly active customers growing by 45% in the same period.

According to Judith McKenna, CEO, Walmart international, Flipkart shows a promising growth as Indian users become hands-on with ecommerce and the affordability and access that it offers.

Meanwhile, Doug McMillon, CEO, Walmart, said that the company is excited about the opportunities it is yet to explore in India. It is impressed by the way both PhonePe and Flipkart are scaling the Indian markets.

Reportedly, Walmart also announced that Flipkart had generated record-breaking sales during the BigBillionDays sale in 2019 but did not reveal any specific numbers on the matter. However, the retail giant reported that free cash flow had faced a downfall, going to $14.5 billion on Jan 31, 2020. In the previous reporting period, the cash flow was recorded at $17.4 billion.

However, top executives of Walmart are still positive about their revenue generation from its Indian payment enterprise PhonePe as it forays into India’s digital ATM business. Evidently, the digital payment market in India is highly competitive with tough competition coming from Google, Amazon, and Alipay-backed Paytm.

Sources cite that the newly launched digital ATM feature intends to allow PhonePe’s 1 million merchants to provide cash withdrawal services to nearby users at a fixed fee.

Source Credit: https://economictimes.indiatimes.com/industry/services/retail/flipkart-leads-walmarts-international-ecommerce-numbers/articleshow/74201035.cms



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Saipriya Iyer

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Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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