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How Walmart's Physical Stores Are Powering Its Digital Expansion

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Key Takeaways

  • WMT's omnichannel model blends stores and digital tools to enhance convenience and service efficiency.
  • Growth in advertising, delivery and marketplace services is strengthening WMT's online ecosystem.
  • WMT's global e-commerce sales jumped 22% in Q1 FY26, driven by digital adoption across all segments.

Walmart’s (WMT - Free Report) success continues to be powered by its strong omnichannel strategy, which blends physical stores with digital shopping. The company is constantly improving how it serves customers by using data, investing in technology and making in-store operations more efficient. Because most Americans live close to a Walmart, the company can use its stores to quickly fulfill online orders. It has taken many steps to improve its e-commerce business, such as buying other companies, forming partnerships and upgrading its delivery and payment systems. In the first quarter of fiscal 2026, Walmart’s global e-commerce sales grew by 22%, thanks to more customers using online shopping across all its divisions.

In the United States, e-commerce sales rose 21%, driven by fast store-fulfilled pickup and delivery, strong marketplace sales and growth in advertising. More customers are choosing faster delivery options for convenience. International e-commerce sales increased 20%, also supported by store-based pickup and delivery and growing marketplace demand. At Sam’s Club U.S., e-commerce sales jumped 27%, with major gains in Club-fulfilled deliveries and pickup services.

Walmart is also building out its supply chain and expanding key digital businesses like Walmart GoLocal (last-mile delivery), Walmart Connect (advertising), Walmart Luminate (data insights), Walmart+ (membership program) and Walmart Fulfillment Services (helping sellers deliver products). It has made smart investments such as acquiring a large stake in Flipkart, a leading e-commerce platform in India, and owning most of PhonePe, a digital payments company. Walmart has also been growing quickly in online grocery shopping, which remains a major driver of its digital success.

Key Competitors Challenging WMT in E-Commerce

Amazon (AMZN - Free Report) is the top player in online shopping, thanks to its huge product range, fast delivery and strong marketplace with many third-party sellers. Its strategy focuses on speed, convenience and keeping customers loyal through Prime, which offers free shipping and other perks. Amazon keeps investing in better technology, AI and faster fulfillment. Recently, its online sales have grown again after a slower period. However, Walmart is catching up by using its many stores to quickly deliver online orders, especially in groceries, where it has a clear advantage. The race between Amazon and Walmart is getting closer.

Target’s (TGT - Free Report) e-commerce business is growing fast because of its focus on making shopping easy and quick. They offer services like same-day delivery and curbside pickup, using their stores to help fulfill online orders. This has helped Target’s online sales grow a lot. In the first quarter of 2025, Target's e-commerce operations contributed approximately 20% to the company's total revenues. Target relies on its unique brand and loyal shoppers to compete with Walmart’s size and low prices.

WMT’s Price Performance, Valuation, and Estimates

Shares of Walmart have gained around 10.6% year to date compared with the industry’s growth of 10.8%.

Zacks Investment Research
Image Source: Zacks Investment Research

From a valuation standpoint, WMT trades at a forward price-to-earnings ratio of 37.08X, significantly above the industry’s average of 33.95X.Zacks Investment Research
Image Source: Zacks Investment Research

The Zacks Consensus Estimate for WMT’s 2025 earnings implies year-over-year growth of 3.2%, whereas its 2026 earnings estimate suggests a year-over-year uptick of 11.6%. The estimates for 2025 and 2026 have been stable in the past seven days.

Zacks Investment Research
Image Source: Zacks Investment Research

WMT stock currently carries a Zacks Rank #4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.


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