沃尔玛过去三年受益于物价上涨，股价翻了一番多。由于消费者寻求更实惠的商品，这家零售巨头抢占了小型竞争对手的市场份额，甚至威胁到美妆零售商、一元店和便利店的生意。沃尔玛也吸引了越来越多富裕的购物者，并开始销售数字广告。

尽管2025年的高预期和更高的关税给沃尔玛即将于周四公布的最新季度业绩蒙上阴影，但华尔街分析师们很难找到沃尔玛放缓的理由，因为消费者正倾向于选择少数大型零售商，而放弃小型零售商。

BMO分析师Kelly Bania估计，沃尔玛美国门店、山姆会员店和Costco批发公司占据了美国食品和消费品销售额35%至40%的市场份额，并且这种跨收入群体的市场份额增长趋势预计将持续。

美银分析师认为，沃尔玛庞大的食品杂货部门的销售额将保持强劲，因为购物者继续优先购买生活必需品，并且对其健康和保健部门的需求持乐观态度。

数字广告等服务可以帮助沃尔玛抵消食品杂货以外商品销售疲软的影响。

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