Walmart's advertising revenue grew 30% year-on-year in Q2, led by the Indian market!

It is learned that according to the financial report recently released by Walmart, driven by its advertising business Walmart Connect and Indian e-commerce platform Flipkart, the retail giant's advertising revenue in the second quarter of 2022 increased by 30% year-on-year.

According to previous reports, Walmart's advertising business (Walmart Connect) revenue soared 130% to US$2.1 billion in 2021. Walmart expects advertising business revenue to reach US$4 billion by 2025.

In July, Prakash Sikaria, vice president of Walmart’s currency division, said that “advertising accounts for 2-3% of Flipkart’s gross merchandise value (GMV)”.

Walmart International CEO Judith McKenna had said in June that India was Walmart's largest market for advertising revenue.

It is learned that overall, Walmart's international revenue (including Flipkart) increased by 5.7% year-on-year to US$24.4 billion in the second quarter of 2022. India is Walmart's fourth largest e-commerce market after the United States, after Canada, Mexico and China. As of now, Walmart has operations in 23 countries outside the United States. In the second quarter, the international market contributed more than US$100 billion in revenue to Walmart, accounting for about 18% of its total revenue.

It’s worth noting that Walmart’s advertising business is still smaller than that of rival Amazon, which had advertising revenue of $8.7 billion in the second quarter of 2022, up 18% from the same period last year.

Editor ✎ Nicole/

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