Chennai: Flipkart is a key contributor to Walmart’s international sales, the company said in its quarterly earnings presentation.
E-commerce contributed 12 per cent to the total international sales of Walmart and this was led by Flipkart and online grocery sales in several markets. International net sales increased 2.8 per cent in constant currency with strength in Mexico, China and India, Walmart said in its fourth quarter earnings release. Despite a disruption in Chile negatively affecting operating income by about $110 million, net sales of Walmart International grew to $33 billion.
“…Walmex, China and Flipkart all had a solid quarter,” said Brett Biggs, chief financial officer of Walmart Inc.
Flipkart now had over one billion visitors a month, with monthly active customers growing by 45 per cent in the last one year and transactions per customer rising by 30 per cent.
“We remain excited about the opportunity we have there. The way Flipkart and PhonePe are scaling is impressive," Doug McMillon, CEO, Walmart, said in a post-earnings meet.
Flipkart has launched PhonePe as a payment option at Walmart’s “B2B Cash & Carry” stores in India.