Saturday, February 24

Shopping Giant Walmart Benefits From Hoarding Americans

The American supermarket chain Walmart showed a strong increase in the past quarter thanks to customers who hoard food and household products.


Revenues from stores that have been around for more than a year increased by one-tenth compared to a year ago. That was the fastest growth in the last twenty years.

Walmart benefits from its innovations in online sales during the pandemic. In the first quarter, sales via the internet increased by 74 percent.

The group has recently started offering its customers, just like competitor Amazon, a special subscription with which they can order their groceries at home.

It is also possible at some locations to have the items delivered to your home within two hours of ordering.

The profitability of the retail giant was put under pressure by the corona crisis. Consumers more often bought food and toilet paper, which usually have lower margins than more expensive items such as clothing.

In addition, Walmart spent $ 1.1 billion on face masks for staff, extra cleaning, and bonuses for overtime.

Staff safety at Walmart has been in the news over the past few months.

Reportedly, some workers died after being infected with the coronavirus. All employees in the store have been wearing face masks since the end of April and physical contact is limited with Plexiglas.

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