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Zoom out: Companies ranging from Walmart to Home Depot have noted that consumers are being more discerning about where and what they buy鈥攂ehaviors that are likely to remain in place for the better part of 2024.

In comparison, just one and a half percent of those fees are going to Walmart Plus. My question here is, is Walmart Plus even competing with Amazon right now? Blake Droesch:. Well, Amazon had a 15-year head start on Walmart in this area, so I wouldn't necessarily count them out just yet.

Walmart, DoorDash, and others have also gone the route of partnering with credit card companies. Develop unique features that appeal to a specific audience. For example, Walmart鈥檚 Oreo partnership that offered a limited-edition flavor exclusively to Walmart+ members made a direct appeal to grocery shoppers, with a focus on families and young adults.

BNPL debit cards and partnerships like Affirm鈥檚 with Walmart have made it easier to use BNPL in stores. What鈥檚 next? All of these drivers will boost BNPL鈥檚 growth throughout 2024. US BNPL payment value is expected to grow 12.3% YoY in 2024 to reach $80.77 billion, according to our forecasts. Transaction value will skyrocket to $124.82 billion by 2027.

Why it matters: Target鈥檚 US ecommerce growth (4.2% in 2024) is behind competitors Walmart (13.5%) and Amazon (11.5%), which use their unique value propositions to win over consumers. Walmart鈥檚 low prices and massive footprint give it an advantage in grocery. This year, Walmart Inc. will rake in $58.92 billion in US grocery ecommerce sales versus Target鈥檚 $8.10 billion, per our forecast.

While it is an apples-to-oranges comparison, Instacart鈥檚 growth is also a far cry from the 24% ecommerce growth that Walmart reported in Q2. As the largest grocer in the US, Walmart has made a strong push to grow membership in its Walmart+ program to drive more consumers to order groceries online.

And retailers are taking full advantage of the opportunity: Amazon rolled out its Buy with Prime fulfillment service to all US retailers earlier this month, while Walmart quickly followed suit by expanding the reach of its GoLocal last-mile delivery service via a partnership with Salesforce.

But in 2023, three very different retailers鈥�Walmart, Instacart, and eBay鈥攚ill each generate more than $1 billion in ad revenue. But the rising tide is lifting the bigger boats higher. In 2019, retail media ad spending on all retailers besides Amazon, Walmart, eBay, Instacart, or Etsy accounted for 16.8% of US retail media ad spending.

What it means: This doesn鈥檛 just apply to Halloween鈥攖he holiday season is also being pulled up due to retailers like Amazon and Walmart hosting major October sales events. As consumers adjust to a longer holiday season, retailers must spread their promotions evenly across the last four months of the year. 2. Consumers are pulling back on spending.

That鈥檚 despite fierce competition from Target, Walmart, Best Buy, Nordstrom, and a host of other retailers all looking to get a slice of a highly lucrative pie. As a result, Amazon鈥檚 share of Prime Day sales is shrinking; our forecast puts it at 59.6%, down from 60.9% in 2019.

Grocery ecommerce sales will remain high in the US because the shoppers who already are buying groceries online are spending more, and because Walmart and Amazon are incentivizing online shopping. Different strokes.

Amazon recently overhauled its grocery business in a bid to grow its share of online grocery dollars and reduce supply chain costs, but Walmart still has a commanding lead. Over six in 10 (61.4%) digital grocery buyers have ordered from Walmart, compared with 49.5% for Amazon.com and just 18.6% for Amazon Fresh.

Retailers that are less favored by Gen Zers, such as Walmart, are more likely to hop on this trend, Davidkhanian said. 鈥淲补濒尘补谤迟 is trying so many different things to capture younger consumers because they鈥檙e not as 鈥榗ool鈥� as Target.鈥�. Younger consumers discover products online, but they still want the experience of going to stores and bringing something home.

Walmart, Target, Best Buy, and other retailers created their own sales events in response, all trying to score their share of consumer spending. Over half (55%) of Prime Day shoppers checked prices at competing retailers before finalizing their purchases on Amazon, per Numerator. Many consumers also shopped or planned to shop competing sales events by Walmart (31%) and Target (25%).

Number one Walmart for 1 million different reasons. Becky, I'm going to have you lay out what these are. Becky Schilling (12:13):. Yeah, Walmart regAIning the number one position agAIn for the month. They rolled out their new self-service insight solution, Walmart Luminate, which is integrating with Walmart Connect. They introduced their Walmart plus week.

If you remove Amazon, Walmart is poised to take 4 in 10 non-Amazon retail media search ad dollars this year, with its vast network of stores and growing omnichannel measurement solutions. 鈥淲补濒尘补谤迟 has repeatedly demonstrated its market power. It has a solid search offering matching Amazon's in breadth and consistency,鈥� said Mitchell-Wolf.

Walmart recently introduced sponsored videos for search, allowing advertisers to hit upper-funnel objectives (through visual storytelling) as well as lower-funnel objectives (by engaging customers who are searching and primed for purchase). Next year, US search ad spend will reach $127.84 billion, growing 12.4% YoY, per our forecast.

Last year, households earning $100,000 or more made up less than 30% of sales at Walmart and discount retailers, per Brick Meets Click and Mercatus. However, inflation has driven shoppers to dollar and discount stores.

Can Target鈥檚 paid membership program compete with Amazon, Walmart?

The most popular platform was eBay, which 23% of Amazon businesses of all sizes said they were already on, followed by Shopify (21%), Walmart (19%), Etsy (13%), and Facebook Marketplace (10%). When asked which platforms they plan to expand to in 2024, over a third (36%) of Amazon sellers cited Walmart.

Walmart. Why: 鈥淲补濒尘补谤迟 is not often seen as the 鈥榠t鈥� place to shop, and it knows,鈥� said our senior content director Becky Schilling. 鈥淚t's experimenting with tech to change that.鈥�. What鈥檚 interesting:. Walmart is expanding its 30-minute drone delivery pilot, serving 1.8 million households in the Dallas-Fort Worth area.

鈥淸奥补濒尘补谤迟 has the] largest customer base of physical store grocery shoppers. I just think that when it comes down to brass tacks, it鈥檚 that very simple advantage of just having a large customer base and a large brick-and-mortar footprint.鈥�. But other retailers are trying to cash in on the surge in click-and-collect buyers.

Amazon will account for nearly all of the $29.69 billion US retail media search ad spend this year, though Walmart and Instacart are also contributing to retail media鈥檚 share of search ad spend, per our forecast. 3. In-store retail media presents a giant opportunity.

鈥淵ou have a place [in the event period], especially if you鈥檙e Walmart or Target.鈥�. Listen to the full podcast. This was originally featured in the Retail Daily newsletter. For more retail insights, statistics, and trends, subscribe here.