Walmart's heavy investments in e-commerce paid off when the coronavirus pandemic arrived in the United States. Walmart CEO Doug McMillon says that customers have adapted to the new conditions with a new way of shopping, one that largely takes place online, taking advantage of Walmart's delivery and curbside pickup options. As a result, Walmart's U.S. e-commerce sales spiked 79% in the third quarter. The retailer acknowledged the uncertainty of the situation and did not provide an outlook, but McMillon doesn't expect the online shopping boom to end when the pandemic does.
“We’re convinced that most of the behavior change will persist beyond the pandemic and that our combination of strong stores and emerging digital capabilities will be a winning formula,” he told investors on an earnings call.