20 Top Walmart Statistics for 2024

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With over 10,000 stores globally serving 230 million weekly customers, Walmart continues dominating as the #1 retailer worldwide. But while its brick-and-mortar empire remains strong, Walmart is in a race to transform into an omnichannel shopping giant as competitive pressures mount…

This comprehensive guide provides the 25 most important Walmart statistics you need to understand the retail leader‘s performance, strengths, challenges, and future outlook in 2024 and beyond.

Walmart‘s Store Count and Locations

Walmart locations break down into three primary formats – Supercenters, Discount Stores, and Neighborhood Markets. And the retailer‘s dominance across American communities is unmatched…

  1. There were 5,342 Walmart stores across the 50 U.S. states at the end of fiscal 2023. Slightly down from 5,374 stores the prior year due to some closures. (Walmart Annual Report)

  2. The breakdown by format is:

    • 3,570 Supercenters
    • 364 Discount Stores
    • 781 Neighborhood Markets

  3. Supercenters drive the majority of Walmart‘s revenue due to one-stop shopping for groceries, general merchandise, and more. Neighborhood Markets focus just on groceries and pharmacy items.

  4. Texas leads all states with 616 total Walmart stores. Florida comes in second with 406 stores, then California at 299 stores.

  5. Across its domestic and international divisions, Walmart has over 10,500 stores encompassing multiple formats and banners globally. (Walmart)

In addition to having the most stores by far compared to any retailer, Walmart locations are conveniently situated with 90% of the U.S. population living within 10 miles of a store.

This enormous brick-and-mortar footprint, combined with Walmart‘s seamless shopping ecosystem, underpins its #1 position for convenience and choice.

Walmart‘s Commanding Market Share

From regional grocery chains to world-class e-commerce leaders like Amazon, Walmart faces intensifying competition across all fronts:

  1. Walmart captures about 25% retail share of the entire U.S. grocery industry. Kroger is second at just under 10% share. (Forbes)

  2. For general merchandise shopping, Walmart accounts for around 11% of total U.S. retail sales, leading all merchandise retailers. (Forbes)

  3. In e-commerce, Walmart holds roughly 7% market share of online sales. Up from 6% in recent years. Amazon has a towering 40% e-commerce share. (MWPVL)

  4. Across stores and online, approximately 93% of American shoppers made at least one purchase at Walmart over the last year. Underlining its reach and popularity. (Kantar)

So while no retailer matches Walmart‘s overall scale or breadth today, rivals like Amazon and Kroger are making inroads. Walmart must continue adapting its strategy in response…

Walmart‘s Financial Performance

Despite external challenges, Walmart extended its lead as the world‘s largest retailer in fiscal 2023 thanks to strong consumer demand and inflationary tailwinds:

  1. Walmart reported $572 billion in net sales revenue globally for FY 2023 ending January 31, 2023. Up over 6% year-over-year. (Walmart)

  2. As of early 2024, analysts expect Walmart will generate between $615 to $630 billion in revenue for the current fiscal year. Representing solid growth. (Walmart, Yahoo Finance)

  3. However, e-commerce still only accounted for 13% of total FY2023 net revenue. Physical stores drive 87% of Walmart sales for now. (Walmart)

  4. Walmart‘s gross profit margin decreased by over 50 basis points in FY2023 due to rising costs for merchandise, supply chain, and compensation. Other retailers faced similar margin pressure. (Walmart)

The above chart shows while Walmart revenue continues increasing year-over-year, margins are tightening in the current high inflation environment.

Spotlight on Walmart‘s Employees

Walmart‘s over 2 million associates around the world bring its Everyday Low Price mission to life. But recent surveys reveal shifting attitudes regarding compensation and sentiment:

  1. Approximately 1.6 million workers are employed across Walmart‘s U.S. stores, supply chain, and corporate offices. Making it the #1 private employer in America. (Walmart)

  2. Reviews from over 350,000 current and past Walmart employees on Indeed.com show:

    • 49% feel they are paid fairly
    • 51% feel underpaid

  3. Sentiment around advancement opportunities is similarly mixed, with 53% saying possibilities exist while 47% see limited career growth. (Indeed)

  4. Hourly wages often trail national retailer averages, especially for cashiers ($12.12 per hour vs. $12.95 average). Stocking associates fare slightly better at $16.35 per hour. (Indeed)

  5. Based on employee feedback, worker turnover rates have increased around 25% over the past three years – an alarming trend driving higher hiring and training costs. (Reuters, retailwire)

With labor one of Walmart‘s largest controllable costs, the above trends put intense focus on the associate value proposition moving forward.

E-Commerce and Technology Capabilities

Transforming into a seamless omnichannel shopping experience is essential for Walmart to thrive in the years ahead. Some key stats:

  1. Walmart has over 50 million downloads of its main shopping app on Google Play. Target‘s app has just 10 million downloads by comparison. (Google Play)

  2. The retailer‘s website, Walmart.com, averages over 380 million visits monthly – second only to Amazon. But the 52% bounce rate indicates room for better engagement. (SimilarWeb)

  3. As the lines blur between digital and physical commerce, around 82% of Walmart.com shoppers utilize in-store pickup for online orders instead of shipping to their home. Fast fulfillment without the last mile delivery cost. (Prosper Insights)

  4. Despite the convenience of Walmart+ membership benefits like free shipping with no order minimum, only 28% of shoppers currently use the program. Amazon Prime penetration is estimated at 75% to 85% among frequent shoppers. (Prosper, Consumer Intelligence Research Partners)

As the numbers above demonstrate, Walmart is making tangible progress ramping up its e-commerce capacities. But operational excellence combing digital convenience with physical store access will determine the retailer‘s success competing against Amazon.

Inventory Shrinkage and Loss Prevention

Like all retailers, shoplifting, fraud, and supply chain leakage represent major cost drags for Walmart:

  1. Walmart does not report specifics. However, with over $570 billion in net sales and average retail shrinkage rates around 1.5%, total inventory shrink likely tops $8.5 billion annually. (National Retail Federation)

  2. Survey data shows over 70% of retailers saw sharp increases in organized retail crime and shoplifting rates over the past two years. So much so that loss prevention is most executives‘ top area of concern industry-wide. (National Retail Federation)

  3. Only 74% of major retailers provide formal loss prevention training for new hires, suggesting many stores remain vulnerable. And violence accompanying thefts is also rising rapidly. (National Retail Federation)

The Road Ahead for Walmart

Despite its pole position atop the industry, external analysis reveals major opportunities for Walmart to solidify its leadership:

  • Boost e-commerce sales to 20% or more of total revenue by engaging digital natives and streamlining fulfillment
  • Enhance associate satisfaction through increased wages and career development to maintain sufficient staffing amid shortages
  • Grow membership programs like Walmart+ to build loyalty and achieve higher customer lifetime values
  • Continued omnichannel innovation blending digital convenience with Walmart‘s unmatched local store footprint

The numbers don‘t lie – with judicious investment across human capital, emerging technologies, and differentiated customer experiences, Walmart‘s brightest days may still lie ahead. But in an increasingly fierce retail industry, continued adaptation is required to stay on top.

Sources:

  1. Walmart Annual Report 2023
  2. Walmart
  3. Forbes
  4. MWPVL International
  5. Kantar
  6. Google Play Store
  7. SimilarWeb
  8. Prosper Insights & Analytics
  9. Consumer Intelligence Research Partners
  10. National Retail Federation
  11. Reuters
  12. retailwire
  13. Yahoo Finance

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