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

  • According to new research, Walmart Inc 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 Inc 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 TGT and Kohl's Corp 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 SHOP merchants saw a solid start to the holiday period.
  • Price Action: WMT shares closed at $152.98 on Friday.
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