Walmart overtakes Amazon in shoppers’ search for bargains

It will take a few weeks to know post-holiday spending trends, says CNBC's Repko

Walmart is top of mind for holiday shoppers looking for Black Friday deals, according to new research.

The big box retailer is dominating online searches for Black Friday discounts as of Friday morning, according to ad tech firm Captify, which tracks more than 1 billion searches a day from websites globally.

related investment news

These discounted e-commerce stocks could be winners this holiday season.  Here's why

These discounted e-commerce stocks could be winners this holiday season. Here’s why

Searches for Black Friday discounts at Walmart surge 386% year-over-year, dwarfing rival retailer Amazon, which last year ranked first in Captify’s survey of the most searched retailers on Black Friday. This year, the world’s largest e-commerce company was ranked fourth behind Goal and Kohl’srespectively.

Retailers are vying for shoppers’ eyeballs and wallets at a time when the holiday shopping season is expected to be more subdued than in previous years. Americans are expected to pull back on their holiday shopping this year as soaring inflation squeezes their spending power.

The National Retail Federation said it expects holiday sales during November and December to rise between 6% and 8% from last year, a decline when the effect of inflation is taken into account. Online sales in the months of November and December are expected to grow a slight 2.5% to $209.7 billion, compared with an 8.6% increase a year ago, according to Adobe Analytics.

Early signs suggest the season may not be as bleak as predicted. Online sales rose 2.9% year-over-year to $5.29 billion on Thanksgiving Day, Adobe Analytics said. That’s slightly higher than its estimates for growth in the overall holiday season.

Black Friday is expected to pull in $9 billion in online sales, up 1% from the previous year, according to Adobe.

Shopify sellers saw a solid start to the holiday season. Businesses hosting their online stores on Shopify earned $1.52 million per minute on Thanksgiving Day, according to the company.

Add a Comment

Your email address will not be published. Required fields are marked *