Walmart Inc. (WMT): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique de la vente au détail, Walmart Inc. est un titan colossal, révolutionnant comment des millions d'assistant les achètent quotidiennement en orchestrant magistralement un modèle commercial qui équilibre une échelle sans précédent avec l'efficacité du rasoir. De ses humbles débuts en Arkansas à devenir une puissance mondiale de vente au détail, Walmart a méticuleusement conçu une toile commerciale qui offre une valeur inégalée grâce à des prix bas, des gammes de produits étendues et des expériences omnicanal sans couture. En tirant stratégiquement la technologie, les chaînes d'approvisionnement robustes et une approche centrée sur le client, Walmart est passé d'un magasin de réduction local en un 611 milliards de dollars entreprise qui dessert des millions dans le monde, redéfinissant l'économie de la vente au détail et les attentes des consommateurs au 21e siècle.

Walmart Inc. (WMT) - Modèle commercial: partenariats clés

Partenariats des fournisseurs et des marques de consommation

Walmart entretient des partenariats stratégiques avec les grandes marques et fournisseurs de consommateurs à l'échelle mondiale:

Catégorie des fournisseurs	Meilleurs partenaires	Valeur d'achat annuelle
Biens de consommation	Procter & Pari	15,2 milliards de dollars
Boissons	Coca-Cola Company	8,7 milliards de dollars
Produits alimentaires	Se nicher	6,5 milliards de dollars

Partenaires technologiques

Walmart collabore avec les principales sociétés technologiques:

• Microsoft - Cloud Infrastructure and IA Solutions
• Google Cloud - Analyse avancée des données et services cloud
• Adobe - Expérience numérique et plateformes de commerce électronique

Partenariats de logistique et de transport

Type de partenaire	Partenaires clés	Volume logistique annuel
Camionnage	Transport rapide	82 millions de miles par an
Expédition	FedEx	45 millions de packages par an
Livraison de dernier mile	Fournisseurs de livraison	3,6 milliards de dollars d'investissement

Partenariats de commerce électronique et de marché

Collaborations de marché en ligne de Walmart:

• Vendeurs tiers: 160 000 vendeurs de marché actifs
• Revenus annuels sur le marché: 47,8 milliards de dollars
• International E-Commerce Partners: Flipkart (Inde), JD.com (Chine)

Réseau de distribution international

Région	Partenaires de distribution clés	Nombre de pays
Amérique du Nord	Réseaux d'entreposage locaux	3 pays
l'Amérique latine	Fournisseurs de logistique régionaux	6 pays
Asie	Réseaux de distribution locaux	4 pays

Walmart Inc. (WMT) - Modèle d'entreprise: activités clés

Opérations de vente au détail dans plusieurs formats de magasins

Walmart exploite 10 586 magasins à l'échelle mondiale au 31 janvier 2023, avec la ventilation du format de magasin suivant:

Type de magasin	Nombre de magasins
Walmart Supercenters	3,572
Magasins de réduction Walmart	369
Marchés du quartier de Walmart	597
Sam's Club	600

Développement et gestion de la plate-forme de commerce électronique

Les revenus de commerce électronique de Walmart ont atteint 73,2 milliards de dollars au cours de l'exercice 2023, ce qui représente 13% de croissance en glissement annuel.

• Market en ligne avec plus de 150 000 vendeurs
• Plateformes de vente numérique dans 24 pays
• Walmart.com sert plus de 120 millions de visiteurs mensuels uniques

Chaîne d'approvisionnement et gestion des stocks

Walmart gère une chaîne d'approvisionnement complexe avec les caractéristiques suivantes:

Métrique de la chaîne d'approvisionnement	Valeur
Centres de distribution	171
Rétallage des stocks annuels	8.4x
Dépenses logistiques annuelles	24,7 milliards de dollars

Source et achat de marchandises

Walmart s'approvisionne à environ 100 000 fournisseurs dans le monde, avec 80% des marchandises provenant de l'international.

• La Chine représente 26% de l'approvisionnement international
• Volume annuel des achats: 605 milliards de dollars
• Durée du contrat moyen des fournisseurs: 3-5 ans

Technologie numérique et innovation au détail omnicanal

Investissement technologique dans l'exercice 2023: 11,8 milliards de dollars

Initiative technologique	Statut d'implémentation
Automatisation des magasins	4 700 magasins équipés
Points de ramassage automatisés	5 300 emplacements
Automatisation de processus robotique	37% des processus de back-office

Walmart Inc. (WMT) - Modèle d'entreprise: Ressources clés

INFRASTRUCTURE GLABILE GLOBAL

Au 31 janvier 2024, Walmart opère:

Type de magasin	Nombre de magasins
Magasins américains de Walmart	4,717
Emplacements du club de Sam	600
Magasins internationaux	5,426

Centres de logistique et de distribution avancés

L'infrastructure logistique de Walmart comprend:

• 164 centres de distribution aux États-Unis
• 42 centres de distribution d'importation
• Espace total d'entrepôt d'environ 150 millions de pieds carrés

Solide réputation de la marque et fidélité à la clientèle

Métriques clés de la marque:

Métrique	Valeur
Visiteurs annuels du site Web	Plus de 430 millions
Visiteurs uniques walmart.com	120 millions par mois

Technologie numérique robuste et plateformes de commerce électronique

Investissements technologiques numériques:

• Dépenses technologiques annuelles: 11,7 milliards de dollars
• Plus de 150 000 employés de la technologie
• Infrastructure de cloud computing couvrant plusieurs régions

Main-d'œuvre diversifiée

Statistiques de l'emploi:

Catégorie	Nombre
Total des employés mondiaux	2,3 millions
Employés américains	1,6 million
Employés internationaux	700,000

Walmart Inc. (WMT) - Modèle d'entreprise: propositions de valeur

Garantie de prix bas et prix abordables quotidien

Les économies de prix moyens de Walmart par rapport aux concurrents: 14,2% entre les catégories de produits. Économies annuelles totales pour les clients estimées à 36,4 milliards de dollars en 2023. La politique de contrepartie des prix couvre 29 000 détaillants en ligne.

Catégorie de prix	Économies moyennes	Impact annuel du client
Épiceries	16.7%	12,3 milliards de dollars
Électronique	12.5%	8,9 milliards de dollars
Marchandises à domicile	15.3%	7,6 milliards de dollars

Sélection de produits larges dans plusieurs catégories

La gamme de produits comprend plus de 600 000 SKU uniques dans les magasins physiques. Le marché en ligne comprend 120 millions de produits. Répartition de la catégorie:

• Épicerie: 35% de la sélection des produits
• Électronique: 18% de la sélection des produits
• Vêtements: 15% de la sélection de produits
• Marchandises à domicile: 12% de la sélection de produits
• Automobile: 8% de la sélection de produits
• Autres catégories: 12% de la sélection des produits

Expériences de magasinage pratiques

L'infrastructure de vente au détail omnicanal comprend:

• 11 501 magasins totaux dans le monde entier
• 5 342 magasins aux États-Unis
• 599 Sam's Club Emplacements
• 4 742 Walmart Supercenters
• Plateformes en ligne traitant 230 millions de visiteurs mensuels du site Web

Méthode de livraison	Volume de transaction annuel	Délai de livraison moyen
Achat en magasin	2,1 milliards de transactions	Immédiat
Livraison en ligne	680 millions de transactions	1-2 jours
Services de ramassage	420 millions de transactions	2-4 heures

Destination de magasinage à guichet unique

Taille moyenne du panier client: 52,74 $. Catégories de produits par transaction: 4.3 Catégories différentes. Volume annuel de transaction client: 3,2 milliards.

Disponibilité efficace et fiable des produits

Métriques de gestion des stocks:

• Taux de disponibilité de 99,2%
• Rétallage moyen des stocks: 8,5 fois par an
• Investissement inventaire annuel de 56,8 milliards de dollars
• Efficacité de la chaîne d'approvisionnement: taux de livraison à 97%

Walmart Inc. (WMT) - Modèle d'entreprise: relations avec les clients

Programme d'adhésion Walmart +

En 2024, Walmart + l'adhésion coûte 98 $ par an ou 12,95 $ par mois. Le programme comprend:

• Livraison illimitée gratuite du magasin
• Livraison gratuite sans achat minimum
• Réductions de carburant dans les stations-service Walmart et Murphy
• Balayage & Technologie de paiement

Métrique de l'adhésion	2024 données
Total Walmart + membres	21 millions
Revenus de membres annuels	2,058 milliards de dollars

Plateformes de service client numérique

Walmart exploite plusieurs canaux de service client numérique avec les mesures suivantes:

• Assistance de chat en ligne 24/7
• Prise en charge du téléphone en 5 langues
• Temps de réponse moyen: 2,3 minutes

Marketing et recommandations personnalisées

Métrique marketing	2024 données
Campagnes par e-mail personnalisées	167 millions par mois
Dépenses publicitaires numériques ciblées	1,3 milliard de dollars par an

Technologies en libre-service et application mobile

Caractéristiques de l'application mobile de Walmart:

• 87 millions d'utilisateurs mensuels actifs
• Fonctionnalité de ramassage des commandes mobiles
• Intégration du portefeuille numérique

Programmes de fidélité et engagement client

Métrique du programme de fidélité	2024 données
Membres du programme de fidélité totale	140 millions
Taux de rétention de clientèle moyen	72%
Dépenses annuelles d'engagement client	980 millions de dollars

Walmart Inc. (WMT) - Modèle d'entreprise: canaux

Magasins de vente au détail physiques (Supercenters, marchés du quartier)

En 2024, Walmart exploite 10 524 magasins de détail dans le monde, avec 4 717 magasins aux États-Unis.

Type de magasin	Nombre de magasins
Walmart Supercenters	3,572
Marchés du quartier de Walmart	597
Sam's Club	548

Plateforme de commerce électronique walmart.com

Les ventes de commerce électronique de Walmart ont atteint 73,2 milliards de dollars au cours de l'exercice 2024, ce qui représente 12,4% des revenus totaux.

• Catalogue de produits en ligne dépassant 75 millions d'articles
• Disponible dans 24 pays
• Plus de 150 millions de visiteurs mensuels du site Web

Application de magasinage mobile

L'application mobile de Walmart a été téléchargée 130 millions de fois, avec 37 millions d'utilisateurs actifs mensuels.

Fonctionnalité d'application mobile	Métrique de l'engagement
Balayage & Technologie	22 millions d'utilisateurs
Commande d'épicerie mobile	18 millions d'utilisateurs actifs

Services de ramassage et de livraison en magasin

Walmart propose plusieurs options de réalisation dans 4 700 magasins américains.

• Micro d'épicerie disponible sur 3 900 emplacements
• Livraison d'épicerie le jour même dans 3 500 magasins
• La livraison à portée de main couvrant 80% de la population américaine

Vendeurs du marché tiers

Walmart Marketplace accueille 150 000 vendeurs tiers.

Métrique du marché	Valeur
Vendeurs totaux du marché	150,000
Croissance des ventes du marché	28% d'une année à l'autre

Walmart Inc. (WMT) - Modèle d'entreprise: segments de clientèle

Consommateurs soucieux du budget

Walmart dessert environ 230 millions de clients chaque semaine dans 10 500 magasins dans le monde. Le revenu moyen des ménages pour les acheteurs de Walmart est de 76 000 $. Environ 45% des clients Walmart gagnent moins de 50 000 $ par an.

Caractéristiques du segment de la clientèle	Pourcentage
Ménages à faible revenu	32%
Ménages à revenu moyen	48%
Ménages à revenu élevé	20%

Familles à revenu moyen

Walmart cible les familles à revenu moyen avec des revenus annuels des ménages entre 50 000 $ et 100 000 $. Ce segment représente 48% de la clientèle de Walmart.

• Taille moyenne de la famille: 3,14 personnes
• Âge médian des acheteurs primaires: 42 ans
• Pourcentage de familles avec enfants: 62%

Epicerie

Walmart génère 611,3 milliards de dollars de ventes d'épicerie annuelles. L'épicerie représente 56% du total des ventes au détail pour l'entreprise.

Détails du segment de l'épicerie	Valeur
Epicerie hebdomadaire	95 millions de clients
Part de marché de l'épicerie	26.3%
Taille moyenne du panier d'épicerie	$78.42

Clients de vente au détail en ligne et omnicanal

Les ventes de commerce électronique de Walmart ont atteint 73,2 milliards de dollars en 2023. Le taux de croissance des ventes en ligne était de 11,5% en glissement annuel.

• Utilisateurs d'applications mobiles: 150 millions d'utilisateurs mensuels actifs
• Emplacements de ramassage d'épicerie en ligne: 4 700 magasins
• Livraison d'épicerie en ligne disponible dans 3 000 emplacements

Clients des petites entreprises et des entreprises

Walmart dessert environ 500 000 fournisseurs et partenaires de petites entreprises. Les ventes de B2B d'entreprise ont atteint 42,5 milliards de dollars en 2023.

Segment de clientèle d'entreprise	Nombre
Fournisseurs de petites entreprises	500,000
Entreprenants	15,000
Partenaires commerciaux internationaux	28 pays

Walmart Inc. (WMT) - Modèle d'entreprise: Structure des coûts

Coûts d'approvisionnement des marchandises

Les coûts d'approvisionnement des marchandises de Walmart pour l'exercice 2024 sont estimés à 573,5 milliards de dollars. La chaîne d'approvisionnement mondiale de l'entreprise implique:

• Source directe des fabricants
• Stratégies d'achat en vrac
• Négociations mondiales de fournisseurs

Catégorie d'approvisionnement	Coût annuel
Épiceries	186,2 milliards de dollars
Vêtements	92,7 milliards de dollars
Électronique	64,5 milliards de dollars

Dépenses opérationnelles et entretien des magasins

Les dépenses opérationnelles totales pour Walmart en 2024 sont de 157,3 milliards de dollars, notamment:

• Entretien d'installation
• Services publics
• Opérations de magasin

Type de dépenses	Coût annuel
Entretien des magasins	38,6 milliards de dollars
Coûts des services publics	22,4 milliards de dollars
Logistique	45,2 milliards de dollars

Salaire et avantages sociaux des employés

La rémunération totale des employés de Walmart pour 2024 atteint 197,6 milliards de dollars.

Catégorie de compensation	Coût annuel
Salaire de base	153,4 milliards de dollars
Avantages sociaux	24,3 milliards de dollars
Plans de retraite	19,9 milliards de dollars

Investissements technologiques et infrastructures

L'investissement technologique de Walmart pour 2024 est de 23,7 milliards de dollars.

• Développement de la plate-forme de commerce électronique
• Technologie de la chaîne d'approvisionnement
• Initiatives de transformation numérique

Frais de marketing et d'acquisition des clients

Les dépenses de marketing pour Walmart en 2024 sont de 14,2 milliards de dollars.

Canal de marketing	Dépenses annuelles
Marketing numérique	6,8 milliards de dollars
Publicité traditionnelle	4,9 milliards de dollars
Campagnes promotionnelles	2,5 milliards de dollars

Walmart Inc. (WMT) - Modèle d'entreprise: Strots de revenus

Ventes de magasins de détail

Les revenus totaux de Walmart pour l'exercice 2024: 611,3 milliards de dollars

Canal de vente	Revenus (milliards)	Pourcentage
Magasins américains de Walmart	$331.7	54.2%
Magasins internationaux de Walmart	$117.4	19.2%

Revenus de la plate-forme de commerce électronique

Ventes de commerce électronique de Walmart en 2024: 82,1 milliards de dollars

• Taux de croissance des ventes en ligne: 11,2%
• Transactions sur le marché numérique: 43,6 milliards de dollars
• Ventes d'épicerie en ligne: 27,5 milliards de dollars

Épicerie et consommables

Revenu du segment de l'épicerie: 198,6 milliards de dollars

Catégorie de produits	Revenus (milliards)
Produits frais	$42.3
Marchandises emballées	$86.7
Aliments surgelés	$35.9

Pharmacie et services de santé

Revenus en pharmacie: 37,8 milliards de dollars

• Médicaments sur ordonnance: 24,6 milliards de dollars
• Services de dépistage de la santé: 5,2 milliards de dollars
• Vaccinations: 3,4 milliards de dollars
• Ventes d'équipements médicaux: 4,6 milliards de dollars

Commissions du marché tiers

Revenus de la Commission du marché: 12,3 milliards de dollars

Catégorie de vendeur	Pourcentage de commission	Revenus (milliards)
Vendeurs d'électronique	8-15%	$4.7
Vendeurs de vêtements	10-18%	$3.9
Vendeurs de marchandises à domicile	7-12%	$3.7

Walmart Inc. (WMT) - Canvas Business Model: Value Propositions

You're looking at the core reasons why millions of customers choose Walmart Inc. every week, even as the retail landscape shifts. It boils down to a relentless focus on cost, convenience, and selection, all powered by their massive physical footprint. Honestly, their scale is what makes the value proposition so hard for competitors to match.

Lowest possible prices, helping customers save money

Walmart Inc. anchors its entire strategy on its Every-Day-Low-Price (EDLP) commitment. This isn't just marketing; it's enabled by their sheer size. For fiscal year 2025, the company reported total revenue of $681 billion. This massive revenue base, supported by serving approximately 270 million customers weekly across the globe, gives them unparalleled purchasing power with suppliers. This leverage is what translates into the lowest shelf prices for the shopper. The company's U.S. segment alone accounted for net sales of $462.415 billion in FY2025.

Omnichannel convenience: shop in-store, online, pickup, or delivery

The value proposition here is the seamless blending of physical stores and digital services. You aren't just shopping online or in a store; you're using both together. For example, the company's omnichannel shoppers buy three times more often and add 13 percent more items per order than single-channel customers. The Walmart+ membership specifically enhances this by bundling benefits like unlimited free shipping on eligible items and unlimited delivery from the store.

Vast, one-stop-shop assortment including grocery and general merchandise

The physical store network is the engine for this vast assortment. As of January 31, 2025, a typical Walmart Supercenter, which carries both general merchandise and grocery, averaged 178,000 square feet. Grocery remains the largest single category, representing about 58% of net sales in FY2023, which gives you a sense of their dominance in that area. The general merchandise categories are broken down into Fashion, Hardlines (like automotive and sporting goods), and Entertainment (electronics, toys, etc.). The marketplace feature further expands selection, with Walmart Connect advertising revenue growing significantly, indicating a broader third-party offering.

Fast delivery, reaching 95% of U.S. households in under three hours

Speed is now a core differentiator, leveraging those 4,600+ U.S. stores as fulfillment hubs. The goal to reach 95% of U.S. households with sub-three-hour service by year-end 2025 is aggressive, but they were already at 93% coverage as of late 2025. You can see the breakdown of their fulfillment speed performance here:

Metric	Value/Percentage	Source/Context
U.S. Same-Day Delivery Reach (as of Q4 FY25)	93% of U.S. households
Goal for U.S. Same-Day Delivery Reach (Year-End 2025)	95% of U.S. households
Store Deliveries Completed in 3 Hours or Less (Recent Weeks)	Around one-third
Orders Paying for Expedited Fee (Under 1 or 3 Hours)	More than 30%
U.S. E-commerce Growth (FY2025)	+20%
Store-Fulfilled Delivery Volume Growth (YoY)	Jumped nearly 50%

The math is simple: delivering to more houses on one route spreads the cost.

Trust and sustainability focus in sourcing and operations

Walmart Inc. is working to build trust through transparency and environmental goals, though some targets are proving difficult. For instance, they anticipated missing their 2025 emissions reduction target, but their absolute scope 1 and 2 emissions were still 18.1% lower than the 2015 baseline. On the packaging front, they designed 82% of their private brand packaging for recycling. Furthermore, they reported spending $65.0 billion with certified and verified U.S. small businesses in CY2024, supporting local economic vitality.

You should track the renewable energy progress, as the goal was to power 50% of global operations by 2025, but they procured 48.5% of global electricity needs from renewable sources last year.

Here are some key sustainability and operational data points:

• Goal: Zero waste to landfill in U.S., Canada, Japan, U.K. by 2025.
• Goal: Use renewable energy for 50% of global operations by 2025.
• Actual: Procured 48.5% of global electricity from renewable sources last year.
• Goal: Use 100% recyclable packaging for all private-label brands by 2025.
• Actual: Designed 82% of private brand packaging for recycling.
• Investment: Spent $65.0 billion with U.S. small businesses (CY2024).

Finance: draft 13-week cash view by Friday.

Walmart Inc. (WMT) - Canvas Business Model: Customer Relationships

Dedicated membership programs (Walmart+ and Sam's Club)

Walmart+ has grown its US member base to an estimated 25 million as of the July 2025 quarter. Walmart+ subscriber penetration stands at 45% in that same quarter. Membership fee income for Walmart rose 14.8% in the first quarter, supported by double-digit growth in Walmart+ subscriptions. Walmart Inc. reported total membership revenue of $3.8 billion for fiscal year 2025, which is a 20% increase year-over-year. This revenue stream contributed only 0.6% of Walmart's total revenue in fiscal 2025.

The warehouse club division, Sam's Club, reported net sales of $90.2 billion in fiscal 2025. Sam's Club U.S. achieved a record-high member count, with membership income growing over 13% in the first quarter. International growth, particularly in Sam's Club China, saw membership income surge more than 40% in the first quarter. Sam's Club operates 600 locations across the U.S. and Puerto Rico.

Here's a look at the membership scale:

Metric	Walmart+ (US Members)	Sam's Club (US Locations)
Latest Count/Figure	25 million (as of July 2025 quarter)	600
FY2025 Membership Revenue Contribution	Part of total membership revenue of $3.8 billion	Contributes to membership income growth of over 13% (Q1)
Recent Growth Driver	Double-digit subscription growth	Plans to double membership over the next 8-10 years

Automated self-service and digital order management

Walmart's U.S. e-commerce penetration reached 18% of total company revenue in fiscal 2025. The retailer's same-day delivery reach now covers 93% of US households, with a goal to extend this to 95% by December 2025. The speed of fulfillment is a key relationship driver; 30% of digital orders now qualify for Express delivery, meaning less than a 3-hour turnaround. Store-fulfilled delivery itself surged nearly 70% in the third quarter of fiscal 2026, showing customers are using the physical store network as a fulfillment asset. Furthermore, four new next-gen fulfillment centers have doubled throughput and cut handling cost by approximately 20%.

Personalized marketing and offers via Walmart Connect

Walmart Connect, the retail media network, is a high-margin business that diversifies profits. The U.S. advertising unit grew revenue 30% year-over-year in fiscal Q2 2025. In the first quarter, Walmart Connect advertising revenue grew 31%. More recently, in Q2 FY26, high-margin services like Walmart Connect saw a 46% year-over-year increase. The company has been targeting $6 billion in ad revenue by 2025. Brands increased their average spend on the platform by 18.47% year-over-year in Q4, with the click-through rate jumping 55% year-over-year.

In-store associate support and customer service desks

Walmart maintains an enormous physical footprint to support in-person customer relationships. The company operates 4,606 Walmart stores in the U.S., alongside 600 Sam's Club locations. Globally, Walmart attracts approximately 255 million customer visits each week across its store and e-commerce platforms. The average shopper makes 67 trips annually, including to Sam's Club.

The relationship is supported by a massive workforce:

• Walmart employs around 2.1 million people worldwide.
• Nearly 19 out of 20 Americans visit Walmart at least twice a year.
• About 34.0% of shoppers visited Walmart at least four times a month between May and July 2025.

Walmart Inc. (WMT) - Canvas Business Model: Channels

You're looking at how Walmart Inc. gets its massive assortment of goods into the hands of its customers across its global footprint as of late 2025. The channel strategy is a complex blend of physical dominance and aggressive digital integration, making sure they meet you wherever you prefer to shop.

Physical Retail Stores (Supercenters, Neighborhood Markets, Sam's Club)

The brick-and-mortar presence remains the backbone, serving as fulfillment hubs and primary shopping destinations. As of fiscal year 2025, Walmart Inc. operated a total of 10,797 stores globally, attracting approximately 255 million customer visits each week across all formats. The U.S. segment, which generated net sales of $462.415 billion in fiscal year 2025, is anchored by the Supercenters.

Here's a look at the U.S. physical footprint based on the most detailed unit count available around the mid-point of fiscal year 2025:

Format	Ending U.S. Unit Count (Approx. as of July 2024)	Approximate Average Square Footage
Walmart Supercenters	3,558	Approximately 182,000 square feet
Walmart Neighborhood Markets	673	Approximately 38,000 square feet
Sam's Club (U.S. Locations)	599	Ranging from 25,000 to 158,000 square feet
Walmart Discount Stores (U.S.)	355	Approximately 106,000 square feet

The sheer scale means 90% of the U.S. population lives within 10 miles of a Walmart store. This density is key for driving down last-mile costs for digital orders.

E-commerce Websites (Walmart.com, SamsClub.com, Flipkart)

The digital channel is growing rapidly, contributing significantly to the overall revenue base. For fiscal year 2025, Walmart Inc.'s global e-commerce operations accounted for approximately 18% of total company revenue, estimated at $122.6 billion. The U.S. digital business crossed the 20% online penetration mark in its segment sales in Q1 FY2026, which is a major milestone achieved through profitable growth.

Key e-commerce channel metrics as of late 2025 include:

• Walmart.com receives 438 million shopper visits in an average month.
• U.S. e-commerce sales grew 20% in Q4 fiscal 2025.
• Global e-commerce sales grew 16% in Q4 fiscal 2025.
• The online marketplace, featuring roughly 160,000 sellers, saw sales grow 34% in Q4 2025.
• Walmart International is projected to generate $31.4 billion in e-commerce net sales by 2025.

Mobile Applications for Shopping and In-Store Services

The mobile app is the primary interface for omnichannel engagement, blending in-store and online experiences. The Walmart shopping app has more than 50 million downloads on Google Play alone. This platform supports features that drive convenience and basket size.

For instance, the adoption of express delivery windows, which are often managed via the app, has seen 30% of shoppers using them, which lifts baskets by 25% after their fourth order. Furthermore, Sam's Club utilizes its app for Scan & Go technology, with member satisfaction scores near 90% for the related 'Just Go' exit technology across almost all 600 clubs.

Curbside Pickup and Last-Mile Home Delivery Services

These fulfillment options leverage the massive physical store network to compete on speed. In January 2025, the delivery channel accounted for 41% of online grocery sales, while the pickup channel held 42% of that market. U.S. curbside pickup retail sales are projected to reach $54.3 billion in 2025.

The focus on speed is evident in the commitment to last-mile infrastructure. By promising to reach 95% of U.S. households within 24-hour delivery by December 2025, Walmart is using its 4,600 U.S. superstores as same-day fulfillment nodes. Executives noted that sales volumes from both curbside pickup and delivery grew faster than in-store sales volumes in Q3 2025.

Drone Delivery Pilots in Select Metropolitan Areas

Walmart is actively scaling drone delivery, positioning itself as a leader in ultra-fast last-mile automation. As of June 2025, the company announced the expansion of this service to 100 stores across five states: Arkansas, Florida, Georgia, North Carolina, and Texas. This expansion builds upon existing operations in Northwest Arkansas and Dallas-Fort Worth.

The scale and performance metrics for this channel are concrete:

• Total successful drone deliveries since 2021 exceed 150,000 airborne drop-offs.
• Eligible packages are limited to two and a half pounds or less.
• The delivery radius is within a six-mile flight path of the store.
• The target flight time for these ultra-fast deliveries is five minutes or less.

This technology helps close the same-day delivery gap, supporting the broader goal of reaching 93% of U.S. households with same-day delivery by late 2025.

Walmart Inc. (WMT) - Canvas Business Model: Customer Segments

You're looking at the core of Walmart Inc.'s massive scale, which is built on serving a diverse set of shoppers, from those strictly focused on the lowest price to those demanding digital convenience. Honestly, the numbers show Walmart is successfully broadening its appeal across the income spectrum.

The foundation of Walmart Inc.'s business remains the mass-market, price-sensitive consumers seeking value. This segment is defined by the company's core promise of Everyday Low Prices (EDLP). In fiscal year 2025, Walmart U.S. segment net sales hit $462.415 billion, representing about 67.9% of the total consolidated net sales of $681.0 billion. This base is incredibly loyal; the data suggests 92% of Walmart customers are loyal. You can see the sheer reach of this segment: 90% of the U.S. population lives within 10 miles of a Walmart store. The average shopper makes about 67 trips annually to a Walmart location, including Sam's Club, spending an average of $54 on 13 items per trip. Affordability is still king for this group, with 61% of surveyed customers saying it's the most important factor when shopping.

The next major segment is Sam's Club members (small businesses and bulk-buying households). This division is a significant revenue driver, posting net sales of $90.238 billion, including fuel, in fiscal year 2025. The club model is heavily reliant on membership fees, which account for between 80% and 90% of Sam's Club's profits. The growth in this segment is being fueled by younger demographics; over a two-year stack, Gen Z membership grew 63% and millennials grew 14%. The club is actively investing to capture more of this market, planning to remodel all of its approximately 600 existing U.S. locations and open 15 new ones annually over the next decade, aiming to double membership. Technology adoption is high here, with one in three members using the Scan & Go technology regularly.

A key strategic evolution involves the growing segment of upper-income/affluent shoppers. This group, once less associated with the discount giant, is now a major contributor to growth. Recent company earnings indicate that approximately 30% of Walmart's shoppers come from households earning more than $100,000 annually. This shift is so pronounced that executives credit this population with driving much of the recent U.S. market share gains. The move toward premium offerings and enhanced in-store experiences is directly targeting this segment's preference for quality and convenience.

Finally, the company is intensely focused on omnichannel customers who blend digital and physical shopping. This hybrid approach is where the highest value often resides. As of 2025, 45% of Walmart customers shop both in-store and online. Seamless integration is a top motivator for 66% of these shoppers. Walmart's digital penetration rose to 18% of net sales by FY2025. The company's massive physical footprint is now leveraged for digital fulfillment, with same-day reach extending to 93% of U.S. households, aiming for 95% by December 2025. These omnichannel shoppers are the most valuable cohort, spending an average of $1,044 a month at a 25.6% margin. The Walmart+ membership program, which reached 31.8 million subscribers as of 2024, is a key tool for driving this frequency.

Here's a quick look at the financial scale tied to these segments in the latest reported fiscal year:

Segment/Metric	Financial/Statistical Number (FY2025 or Latest)	Context/Unit
Total Global Revenue	$681.0 billion	Fiscal Year 2025 Total Revenue
Walmart U.S. Net Sales	$462.415 billion	FY2025 Net Sales
Sam's Club Net Sales (Incl. Fuel)	$90.238 billion	FY2025 Net Sales
Global Weekly Customer Visits	255 million	Average Weekly Visits
Affluent Shoppers (>$100k HH Income)	30%	Percentage of Total Shoppers
Omnichannel Shopper Monthly Spend	$1,044	Average Spend for Omni-Shoppers
Walmart+ Subscribers	31.8 million	As of 2024
Sam's Club Locations (U.S. & PR)	600	Approximate Number of Clubs

The composition of the core U.S. shopper base, while still heavily value-driven, shows a clear expansion at the top end:

• Millennials (1982-1995) account for 25% of shoppers.
• Gen X (1965-1981) accounts for 30% of shoppers.
• Boomers+ (<1965) account for 38% of shoppers.
• Middle Income ($40k - $125k) represents 47% of the income level distribution.
• High Income ($125k+) represents 28% of the income level distribution.

The digital adoption metrics further define the omnichannel customer base:

• Global e-commerce sales grew 22% in Q1 of fiscal 2026.
• U.S. e-commerce sales rose 21% in Q1 of fiscal 2026.
• Express (<3-hr) delivery accounts for 30% of customer-paid deliveries.
• The company's current same-day delivery reach is 93% of households.

If onboarding takes 14+ days, churn risk rises, but Walmart's Express delivery aims to make that a non-issue for many.

Walmart Inc. (WMT) - Canvas Business Model: Cost Structure

You're looking at the engine room of Walmart Inc. (WMT), where the sheer scale of operations dictates the cost profile. For a retailer of this size, the cost structure is dominated by the flow of goods and the massive workforce required to move them.

Cost of Goods Sold (COGS) is the largest component, which makes perfect sense for a business built on moving physical product. For the fiscal year 2025, which ended January 31, 2025, the Cost of Goods Sold reached $511.753 billion. This figure dwarfs all other expense categories, underscoring that procurement and inventory management are the primary cost drivers. To put that in perspective against the top line, total revenue for fiscal year 2025 was $680.99 billion.

Beyond the cost of the merchandise itself, the day-to-day running of the global enterprise requires significant outlay. The financial data you requested shows that for fiscal year 2025, the reported Operating Expenses were $139.88 billion. This figure, when compared to the Total Gross Profit of $169.23 billion for the same period, results in an Operating Income of $29.35 billion.

The human element is a massive, non-negotiable cost. Walmart Inc. supports a global workforce of approximately 2.1 million associates as of fiscal year 2025. This headcount necessitates substantial recurring costs for wages, salaries, and benefits, which are a constant focus for efficiency improvements, especially given recent restructuring efforts aimed at streamlining roles.

Capital investment is also a major, though less frequent, cost. Walmart Inc. is pouring money into the future of retail, with Capital Expenditures (Capex) reaching $23.783 billion in FY2025. This heavy investment is explicitly targeted at technology and automation, which are intended to drive down future operational costs, particularly in the supply chain.

The focus on efficiency is most visible in the logistics and supply chain area. The company is actively working to reduce these costs, which are inherently high due to the vast physical footprint and the need to maintain low prices. This is evident in the Capex allocation, which prioritizes supply chain optimization.

Here's a quick look at how the major cost components stack up for FY2025:

Cost Component	Amount (FY2025)
Cost of Goods Sold (COGS)	$511.753 billion
Operating Expenses (as specified)	$139.88 billion
Capital Expenditures (Capex)	$23.783 billion
Workforce Size	2.1 million employees

The cost structure is characterized by:

• Dominance of COGS, reflecting the core retail business.
• High fixed labor costs associated with 2.1 million associates.
• Aggressive Capex, with $23.783 billion directed toward technology and automation to offset future operating expenses.
• Ongoing efforts to realize savings through logistics and supply chain efficiencies.

Walmart Inc. (WMT) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers that drive the top line for Walmart Inc. as of late 2025. It's a mix of massive scale in traditional retail and high-growth, high-margin digital plays. Here's the quick math on where the money is coming from.

The foundation remains the sheer volume of physical transactions. The total revenue for Walmart Inc. in Fiscal Year 2025 hit $680.99 billion. This massive figure is primarily driven by the core business of selling goods.

The shift to digital is clear in the contribution from online channels. E-commerce sales are no longer a small add-on; they are a major component of the overall business mix.

• E-commerce Sales contributed approximately 18% of total revenue in FY2025.
• Global eCommerce penetration reached 18% of FY25 net sales.
• Walmart U.S. eCommerce comp sales growth was reported at 20% in Q4 FY25.

The subscription and recurring revenue model is proving its worth, showing strong growth ahead of the core retail segments. Membership income, which covers both Walmart+ and Sam's Club, is a key focus area for margin diversification.

The table below breaks down the key quantifiable revenue streams for Walmart Inc. based on the latest available FY2025 figures:

Revenue Stream	FY2025 Financial/Statistical Metric	Detail/Growth Rate
Retail Sales of Goods (Total)	$680.99 billion	Total FY2025 Revenue
E-commerce Sales	18%	Contribution to Total Revenue in FY2025
Membership Fees (Walmart+ & Sam's Club)	$3.8 billion	Global Membership Income (by Q4 FY2025)
Membership Fees Growth	+21%	Year-over-year growth in Global Membership Income
Advertising Revenue (Walmart Connect)	$4.4 billion	Global Advertising Business Size
Advertising Revenue Growth	+27%	Global Advertising Business Growth Rate
Walmart International Net Sales	$121.9 billion	Segment housing significant Financial/Health Services growth

Advertising revenue, channeled through Walmart Connect, is a critical high-margin addition. This stream is growing aggressively, leveraging the retailer's massive shopper data and digital footprint.

• Global advertising business reached $4.4 billion.
• The global advertising business grew by 27% year-over-year.
• Walmart Connect in the U.S. grew by 24% in Q4 FY25.

Financial and Health Services are integrated revenue drivers, particularly within the Walmart International segment, which itself posted net sales of $121.9 billion for fiscal 2025, growing at +6.32% year-over-year. These services include offerings like prepaid cards, money transfers, and digital payment solutions through entities like PhonePe in India.

Finance: draft 13-week cash view by Friday.