Home » today » Business » Stimulus check delivery drives Walmart sales

Stimulus check delivery drives Walmart sales

Walmart’s online sales grew 97%.

Mario Tama / Getty Images

While lawmakers are still debating in the Senate the approval of a second stimulus check that would give more money to the people, Walmart is proof that the first check that was sent actually helped the economy pick up, in accordance with Fast Company.

Walmart said these checks that the government gave was one of the factors that drove their sales and earnings for the second quarter of 2020, during which the store had revenues of $ 137.7 billion.

When people took refuge in their homes during the quarantine, for three months, until July 31, Walmart’s online sales grew 97%.

In addition to consumers spending their stimulus check on store merchandise, Walmart said that its earnings were also helped by low gasoline prices and an increase in wholesale sales.

Stimulus checks were already expected to favor stores like Walmart. In April, a survey of 1,592 people in the US found that about 22% of them planned to spend the money the government gave them on essential or non-essential products. That is, a lot of what is sold at Walmart.

-You may also like: Costco is keeping an eye on you: what information does the company collect from you automatically?

– .

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.