Black Friday Surprise: Walmart Beats Amazon In Online Searches For Deals

Anusuya Lahiri

November 25, 2022

According to new research, Walmart Inc (NYSE:WMT) is at the top of mind for holiday shoppers who hunted for Black Friday deals.
The big box retailer dominated online searches for Black Friday discounts as of Friday morning, CNBC reports citing Captify.
Searches for Black Friday discounts on Walmart surged 386% year over year, leapfrogging rival retailer Amazon.com Inc (NASDAQ: AMZN), which last year ranked first in Captify's survey of most searched retailers on Black Friday.
Also Read: Bummer For Premium iPhone Lovers This Holiday Season - Best Buy Warns Against Supply Crisis
This year, the world's largest e-commerce company ranked fourth, behind Target Corp (NYSE:TGT) and Kohl's Corp (NYSE:KSS), respectively.
Americans will likely pull back on holiday shopping this year as sky-high inflation squeezes their spending power.
Early signs show the season may not be as gloomy as predicted.
Online sales climbed 2.9% year-over-year to $5.29 billion on Thanksgiving Day, Adobe Analytics said, slightly higher than its estimates for growth during the overall holiday season.
Black Friday will likely pull in $9 billion in online sales, a 1% jump Y/Y.
Shopify Inc (NYSE:SHOP) merchants saw a solid start to the holiday period.
Price Action: WMT shares closed at $152.98 on Friday.

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