PYMNTS.com February 23, 2024
As Walmart and Amazon compete for consumers’ health and personal care spending, Walmart is seeing growth — but maybe not enough to hold its lead as Amazon rapidly gains share in the category.
Walmart shared in an investor presentation accompanying its fourth-quarter fiscal 2024 earnings report Tuesday (Feb. 20) that health and wellness sales were particularly strong, growing by the mid-teens year over year in the United States. Plus, the category was an overall driver of sales growth in the quarter, contributing to +4% comparable sales growth in the country.
Yet the retailer may have to work hard to hold onto gains in this category, as competitor Amazon quickly grows its share of consumers’ health and personal care spending.
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