American retail giant Walmart stated that its global advertising business surged in the quarter ending July 2022, largely on the back of strong performances by Flipkart and the company’s US-based advertising arm.
“Global advertising business grew nearly 30%, led by Walmart Connect in the United States and Flipkart advertising,” the company reported in its Q2 earnings report. The retailer also expressed satisfaction with its ecommerce offering, saying Flipkart continues to meet its expectations. “Flipkart continues to exceed our expectations, and the team is working hard to prepare for Big Billion Days.” “I visited India last month and was impressed by how the Flipkart and PhonePe teams are innovating for the customer and driving growth,” said Walmart CFO John David Rainey. Walmart stated that the performance of its ecommerce vertical contributed 19% of total net sales in the international market.
