Walmart has overtaken Apple to become the No. 3 online retailer in the U.S., according to a report this week from eMarketer. While Amazon still leads by a wide margin, accounting for 48 percent of e-commerce sales in 2018, Walmart – including also Sam’s Club and Jet.com – is poised to capture 4 percent of all online retail spending in the U.S. by year-end, totaling $20.91 billion.
The news of the shift in e-commerce rankings comes alongside Walmart’s strong earnings which saw the retailer reporting a 43 percent increase in online sales and upping its year-end forecast for both earnings and sales.
The company had beat Wall St.’s expectations in its fiscal third quarter, with $1.08 earnings per share instead of the expected $1.01. However, it fell short on revenue with $124.89 billion versus the $125.55 billion expected, due to currency complications, it said.
eMarketer had estimated in July that Walmart would capture a 3.7 percent e-commerce share in the U.S. this year, but increased that to 4 percent based on its quickly growing online sales.