Flipkart leads e-commerce contribution to Walmart’s international sales in Q4
E-commerce giant Flipkart led international e-commerce contributions to U.S.-based parent company Walmart and the firm's total international sales in its fourth quarter, with Flipkart counting over one billion visitors a month.
Walmart reported that e-commerce sales made up 12% of its total international sales in its fourth financial quarter ending on January 31, 2020, the business announced in its fourth-quarter report, published on its website on February 18.
Flipkart was the largest contributing business to Walmart’s international e-commerce sales which increased by 2.3% during the quarter to total $33 billion (Rs 2.2 lakh crore).
“We remain excited about the opportunity we have there,” said Walmart’s CEO Doug McMillon, ET Bureau reported. “The way Flipkart and PhonePe are scaling is impressive.”
Walmart also noted that Flipkart’s monthly active customers increased by 45% over the past year. Per-customer transactions also increased by 30% over the past year, according to the business.
“Flipkart is continuing to grow as Indian customers become more and more comfortable with e-commerce and the access and affordability that it has provided,” Walmart International’s CEO, Judith McKenna, told investors.
Walmart’s financial year ended on January 31, 2020 and the business reported a revenue total of $524 billion on its website. Walmart owns 77% of Flipkart, which it acquired for $16 billion.
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