The growth in online sales at Target and Walmart is beginning to snowball as the holiday season is in full swing, with new data showing retail giants are increasing digital sales faster than rival Amazon.
"The impressive sales acceleration reported by Walmart and Target in the last quarter implies that the company's expanding omnichannel initiatives are attracting buyer interest," said Robert Ohmes, an analyst at Bank of America. "This growth has outstripped that of other physical retailers and online gamers such as Amazon, and has been supported by the rapid expansion of online, in-store buying options." at both retailers. "
Ohmes added that Walmart and Target had probably gained market share during the very important Black Friday-Cyber Monday weekend. According to the analyst, online data from Adobe Analytics for 80 of the 100 largest retailers showed "impressive" growth over the period, with sales of $ 24.2 billion, up 23 % compared to the previous year.
According to Ohmes, buyers also opt to collect in-store items after placing orders online, with physical stores recording a 28% higher conversion rate, suggesting that retailers offering both Online forms and physical locations took market share. Ohmes has a price target of $ 115 on Walmart, which implies an increase of 18%.