Walmart, the king of offline commerce, brought home $141 billion revenue for last quarter, up 5% YoY. These numbers are usually a good proxy for consumer health (5% bump in US revenues) — a sign that wallets are heavy even as doles and stimulus dry up.
But, all of that was overshadowed by Walmart’s emerging businesses showing great promise:
- Ecommerce revenues grew 6% YoY
- Advertising sales nearly doubled — Walmart shows ads on its online portal and on its mobile app
Ads are big money — literally every marketplace is starting to find gold in advertising revenues. Amazon already makes tens of billions showing ads to you, MORE than Twitter or Snapchat. Recently grocery shopping platform Instacart was seen to bring in $1B+ in ad revenues.
So what — these successes offer some clues into the potential monetization levers at Indian marketplaces including Zomato, Swiggy, and the others scrambling to profitability.