Year-over-year, Walmart grew Memorial Day weekend online sales by 11%, followed by Home Depot with 5%
Key Insights:
- Seek AI analyzed national consumer spend data from Cybersyn and found in a normalized relative sales analysis of popular retailers that Walmart won 62% of online market share during Memorial Day weekend 2024, while other retailers including Target took 13%, Home Depot 10% and Lowes 9%
- Comparing which brands saw the most online consumer spend during Memorial Day weekend 2024, Walmart led again with 95% of consumer dollars relative to Target’s 20%, Home Depot’s 15%, Lowes’ 13%, and Best Buy’s 9%
- Ultimately, Walmart increased its YoY online Memorial Day weekend sales by 11% compared to 2023, while Home Depot grew 5% versus competitor Lowes that saw online sales fall approximately 3%
Another Memorial Day holiday has come and gone, and this year saw online retailers roll out an impressive array of deals to try to lure in consumer shoppers. Among reports of consumers leaning more heavily into value priced stores, US concerns about the ongoing impact of inflation, a cooling job market and a slowing economy are leading many to question how consumer spending is faring over the summer holiday season. To understand which online retailers saw the biggest gains in sales over the Memorial Day holiday weekend, Seek AI analyzed Cybersyn’s Consumer Spending data which contains projected sales for over 10,000 merchants in the US
How much % U.S. market share did competitor sales earn during 2024 Memorial Day weekend online sales?
Walmart led retail competitors in U.S. online sales market share over Memorial Day weekend 2024 with approximately 62% of the total online sales, followed by Target with about 13%. Home Depot had a market share of 10%, while Lowes held around 9%, and Best Buy 6%.
Which merchant saw the highest sales during Memorial Day weekend 2024?
In a normalized comparison of relative sales, Walmart experienced the highest amount of consumer spend during Memorial Day weekend 2024, with a total of approximately 95% of the maximum sales week observed among all merchants analyzed. This figure significantly surpasses the sales of other merchants like Target, Home Depot, Lowe's, and Best Buy, both in absolute terms and as a percentage of the maximum sales week. Walmart's sales during this period also represent a substantial increase compared to its average sales in the weeks leading up to Memorial Day, indicating a significant spike in consumer spending at Walmart during the holiday weekend.
How did U.S. online consumer spend on 2024 Memorial Day weekend sales compare year-over-year to 2023?
Walmart increased its YoY online Memorial Day weekend sales by 11% compared to 2023, while Home Depot grew 5% versus competitor Lowes that saw a decline of 3%. Looking back further, Walmart’s 2024 online sales over Memorial Day weekend grew 34% compared to its 2022 sales.
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