Walmart CEO: eCommerce sales will hit USD10bn
According to All Things D, Walmart CEO Mike Duke has announced that the company’s eCommerce sales are expected to hit USD10bn this fiscal year. The comment was made at Walmart’s shareholder meeting last Friday.
Although this figure represents a small portion of overall sales – which totalled USD469bn in 2012 – the number has been boosted by the company’s purchase of Chinese online retailer Yihaodian. Initial eCommerce predictions were around the USD9bn mark.
The company’s acquisitions and strategic focus on eCommerce conveys the growing onus retailers are placing on this revenue channel.