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Whole Paycheck Tracker® Introduction Introduction September 2020 WHOLE PAYCHECKTRACKER® Battle For The Digital-First Consumer WHO’S WINNING BY THE NUMBERS WHOLE PAYCHECKTRACKER® Battle For The Digital-First Consumer Introduction 04 Amazon vs. Walmart, the Overview 08 Strengths and Weaknesses 10 The Battlegrounds 12 © 2020 PYMNTS.com All Rights Reserved 2 3 Whole Paycheck Tracker® Introduction Introduction AMAZON NUDGES WALMART IN BATTLE FOR THE DIGITAL CONSUMER he second quarter of 2020 pandemic. They also took care of their Other longer-term moves out of Seattle presence in furniture, intimate wear, and was not a time for the hard own workforces with bonuses and included the debut of the company’s groceries. The company is expected to T sell. It was the height of the a greater focus on safety. And in the first Amazon Fresh grocery store, pay a combined $190 million for Urban pandemic, with hundreds of thousands process, they both fought through complete with smart shopping carts Ladder (online furniture) and Zivame contracting a still-unconquered virus Q2 with earnings that exceeded and more stirrings about the company’s (innerwear).” on the way to 183,000 deaths in the expectations – and for Walmart, a spike move into high fashion. It also made Walmart also played the long game in U.S. by Sept. 1. Entire cities and even in eCommerce activity and revenue. some moves in India, launching the Q2. Like Amazon, its biggest (potential) states were locked down, and retailing territory’s second annual Prime Day Amid the pandemic, the quarter was disruption came outside of Q2 when it was split between “essential” and “non- with (guess what) higher-than-expected marked not so much by competition joined Microsoft’s bid for TikTok. Unlike essential” status. Americans were less results. While Prime Day might seem for the whole paycheck in the short Amazon’s entry into wearables, the concerned with how they were spending like a short-term revenue grab, it’s term, but by various positioning moves Bentonville crew’s entry into social their paychecks as they were concerned not. Amazon will soon have a major to get the whole paycheck in the longer media and gaming is a bit harder to with actually getting one. competitor on the subcontinent in the term. No event was bigger than the see. It doesn’t tie directly to long-term form of Indian billionaire and retailing It was under these conditions that one announced recently by Amazon revenue as clearly as Halo does. But it mogul Mukesh Ambani. Walmart and Amazon – as well as their to enter the wearables, fitness and is an ambitious long-term move and competitors – operated in Q2. Yes, it device markets. With Halo, which is a “Citing sources familiar with the matter, shows that Walmart is thinking more was marked by aggressive moves from Fitbit-type wrist device that measures Indian financial daily Mint reports that digitally about its future. both companies to get more than their everything from body mass to sleep Reliance Retail is about to go on a “The way TikTok has integrated fair share of the $65,960 the average patterns to voice tones, Amazon is buying spree to bolster its eCommerce eCommerce and advertising capabilities American spends each year. But both opening a new revenue stream and business in India,” says The Motley in other markets is a clear benefit to companies donated to various causes joining the move toward connected Fool. “The potential acquisitions are creators and users in those markets,” to help American workers during the fitness in a big way. expected to strengthen Reliance’s online said Walmart in a statement. “We © 2020 PYMNTS.com All Rights Reserved 4 © 2020 PYMNTS.com All Rights Reserved 5 Whole Paycheck Tracker® Whole Paycheck Tracker® TIKTOK IS AN AMBITIOUS LONG-TERM PLAY WHOLE THAT SHOWS WALMART IS THINKING MORE DIGITALLY ABOUT ITS FUTURE. PAYCHTRACKER® ECK Battle For The Digital-First Consumer believe a potential relationship with eCommerce brands, all in the interest TikTok U.S. in partnership with Microsoft of eventually losing “omnichannel” and could add this key functionality and simply going with “retailing.” provide Walmart with an important way And as much as Q2 was a time of for us to reach and serve omnichannel happenings, it was also a period of customers as well as grow our third- time in which one side set a date for a party marketplace and advertising major initiative and one didn’t. Amazon businesses. We are confident that a still held its date for Prime Day close to Walmart and Microsoft partnership the vest. Walmart finally announced its would meet both the expectations of launch date for Walmart+, which will be U.S. TikTok users while satisfying the Sept. 15. concerns of U.S. government regulators.” The following report will delve into Note the word “omnichannel” in the Instacart’s effect on Walmart’s grocery previous statement, because Walmart plans in the hottest battleground also used Q2 to break down any between the two companies, as well remaining barriers between its online as overall spending share of the two and offline divisions. It combined job companies as they head into the critical functions in Bentonville early in the end of the year in their quest quarter and shuttered the ill-fated Jet. to dominate the whole paycheck. com, which it bought for $3 billion in 2016. It also shut down two other minor © 2020 PYMNTS.com All Rights Reserved 6 © 2020 PYMNTS.com All Rights Reserved 7 Battle for the consumer’s whole paycheck Whole Paycheck Tracker® y the numbers, both Walmart and Amazon exceeded During the company’s post- TRACKER OVERVIEW announcement earnings call, all expectations. Because the Whole Paycheck Tracker As stated earlier, Amazon and Walmart executives said that the quarter tried to find a place within the business is a comparison and a gauge of competition, the edge benefited from spending stemming dynamics of the pandemic. And those B from government stimulus packages. on earnings has to go to someone, and both checked in with dynamics were extraordinary during In addition to grocery, strong amazing performances. the month of April, for example, when performances came from electronics the assignment of essential versus and connected home products. Specific nonessential retail made Walmart, Amazon gets the first look. The demand, despite the strong operating grocery numbers were not called out, Target and grocery retailers the only company almost doubled its revenue leverage in Q2. As we move toward other than a growth rate in the high game in town for essential goods. And and profit numbers while spending peak in the second half of the year, single digits. if a consumer could wait long enough more than $9 billion on capital we will ramp up our space needs even The company raised some concerns through possible shipping delays, the improvement projects. further, and we’ll be adding significant regarding Q3. Back-to-school sales, other essential retailer that was open fulfillment center and transportation Among those numbers: Operating cash according to Walmart, are off to a slow was Amazon. capacity.” flow increased 42 percent to $51.2 start. Combine this with a possible Gross sales in the U.S. via Amazon billion compared with $36 billion for Q2 Walmart’s numbers showed eCommerce absence of an additional stimulus have increased from $86 billion in 2014 2019. Net sales increased 40 percent growth and top-line increases as well. package, and the company could have to $339 billion in 2019. Judging by its to $88.9 billion compared with $63.4 The retailer saw a U.S. comp-store a hard time reaching the heights it has performance in Q1 ($77.1 billion gross billion in the second quarter of 2019. sales increase of 9.3 percent over achieved during the pandemic so far. sales) and Q2 ($105 billion), it’s possible Operating income increased to $5.8 Q2 2019 and a 97 percent increase “Back-to-school is just one component that Amazon could ring up over $400 billion in the second quarter compared in eCommerce. The eCommerce of the quarter,” CEO Doug McMillon billion for 2020. Why? Because the with $3.1 billion, and net income performance comes on the heels of said. “And we’ll have to sort out how pandemic is still a limiting factor for increased to $5.2 billion compared to a 74 percent jump in Q1. Digital sales customers want to shop as we go, consumers, and even though they have $2.6 billion. Video hours on Amazon rose from 180 basis points in Q1 to 600 but we think our inventory is well- started to return to physical stores, the Prime doubled. Online grocery sales basis points in Q2. positioned. And we’ll just react location vast majority of U.S. citizens will not tripled. While grocery wasn’t broken out in by location. I don’t think we have a revisit pre-pandemic shopping habits On the earnings call, CFO Brian the company’s financials, CEO Doug lot of liability exposure there. The until a vaccine is widely available. That Olsavsky pointed out that Q2 2020’s McMillon called it out as a contributing sales exposure will be mixed as we go means consumers will still look to numbers topped Q4 2020 –and that Q3 factor to the comp sales bounce, through the quarter and manage other spend a portion of their paychecks with would be even bigger. “As a reminder, Q2 with an average ticket size that grew parts of our business.” Amazon before they consider going to a is typically our largest-volume quarter 27 percent over 2019.
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