Target.com Q1 Digital Sales Soar 141%, Facebook Recommits to Ecommerce with ‘Shops’ and Walmart.com Sales Surge 74% in Q1
Target.com Q1 Digital Sales Soar 141%
COVID-19 drove an unprecedented shift to online shopping for Target in Q1, growing web sales 141% over the same period a year prior. Comparable store revenue, including online, increased 10.8% with digital accounting for 9.9 percentage points. Growth from physical store sales grew only 0.9%. The retail giant emphasized that stores fulfilled nearly 80% of those orders and played a major role in the 278% year-over-year growth in the value of orders fulfilled through the company’s three “same-day” options, which include in-store and curbside pickup and delivery by Shipt.
What stood out to us? Store fulfilled 80% of orders. Omni-channel may be the biggest advantage that Target has over Amazon.
Facebook Recommits to Ecommerce with Shops
Facebook is building a shopping empire, and this time, it has direct involvement with CEO Mark Zukerberg. The main product, called Shops, is a new version of a prior Facebook feature with a similar name and will let retailers upload product catalogs to their Facebook page or Instagram profile. Users can find these Shops directly from a retailer’s page, or by clicking on an add that directs them to a Shop inside of Facebook, rather than the retailer’s website. “This is really the first very major push that we’re going to be making into that next step around commerce,” Zuckerberg said in an interview. “All these tools are open for business even when your physical storefront can’t be,” he said on a livestream Tuesday.
What stood out to us? Timely. Watch this monopoly grow even more.
Walmart.com Sales Surge 74% in Q1
Walmart’s U.S. ecommerce sales shot up by 74% in Q1 as COVID-19 drove more shoppers to buy online and pick up outside Walmart stores. Walmart disclosed that it is shuttering Jet.com, the online marketplace it acquired in 2016 for $3.3 billion. The retailer cut marketing for Jet.com to focus on Walmart.com’s brand and move Jet employees to Walmart’s ecommerce operation. Walmart executives credited the Jet acquisition with helping jumpstart Walmart’s online sales, particularly outside of the grocery category. “We continue to leverage our unique assets in ways only Walmart can,” Walmart ecommerce CEO Marc Lore told analysts.
What stood out to us? Jet.com goes the way of the travel industry.
In the headlines
- Amazing Amazon: Amazon has delivered more than 100 million pieces of protective gear to front line workers and governments during the COVID-19 pandemic.
- Online revenue: Nearly half of Kohl’s Q1 revenue came from online sales.
- A major loss: Macy’s Q1 loss could top $1B.
Before you go
The top 500 retailers adapting to new era of ecommerce.
Amazon wants to innovate its way out of the pandemic.
What the pandemic reveals about ecommerce.
Dose data of the week
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