Amazon and Walmart now face a new challenge: shifting consumer priorities. Recent earnings show both companies posted their weakest quarterly sales growth since 2020, with Amazon at 3.7% and Walmart at 3.2%. These results barely outpace inflation and signal a dramatic slowdown compared to previous years.
Key Takeaways
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Both Amazon and Walmart are experiencing their slowest sales growth since before the pandemic, barely outpacing inflation.
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Consumers are shifting spending from goods to services, experiences, healthcare, and housing, reducing both companies’ share of total consumer spending.
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Walmart is gaining ground in discretionary spending, challenging Amazon’s traditional stronghold in this profitable segment.
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