Number of Walmart Stores in the US in 2024: Demographics, Statistics, and Predictions - Financesonline.com (2024)

Bartering and selling of goods have been recorded throughout human history for thousands of years, and in the 18th and 19th centuries, family-run businesses—mom-and-pop stores—were the first retail stores. The following years saw the emergence of a few convenience stores, department stores, and shopping malls. It was only until the 1960s where big-box retail stores saw a surge in popularity. One of these big-box retail stores is a company founded by Sam Rogers called Walmart in the city of Rogers in Arkansas.

At present, 4,756 Walmart stores are operating in the United States. A retail company this huge is sure to have an impact on the US economy. In this article, we will delve deeper not only into the number of Walmart stores in the US but also into these major topics below, including some effects of COVID-19:

Walmart Stores and COVID-19 in the US

From March 9 to 15, 2020 (week 11), a 47.57% year-over-year increase in foot traffic was seen in Walmart stores in the US versus the same period in 2019 (Placer.ai, 2020). During the height of the COVID-19 outbreak, 28% of Americans said that they stockpiled food and other supplies in anticipation of the pandemic (IPSOS, 2020).

Likewise, Walmart has partnered with the Centers for Disease Control and Prevention in helping vaccinate Americans through the Federal Retail Pharmacy Program. This nationwide effort involves over 1,400 Walmart pharmacies in 35 states, including Washington, DC and Puerto Rico (Walmart, 2021).

Walmart Stores Across the US

Walmart Stores per State

According to the data gathered by ScrapeHero, Texas has the most number of Walmart stores with 516. Florida is the second state with the most Walmart with 341 stores. The third state is California with 280 Walmart stores. North Carolina is the fourth state with 194 stores. And the fifth state with the most number of Walmart stores in Georgia with 189(ScrapeHero, 2020).

Walmart Stores per City

Out of the 15 cities with the most Walmart stores, 5 is from Texas.

San Antonio holds the number one spot with 29 Walmart stores. Houston, another city in Texas, falls second with 26 stores. Orlando is at the third spot with 25 stores followed by another city in Florida, Jacksonville, with 24 stores. The fifth spot belongs to Las Vegas with 22 stores(ScrapeHero, 2020).

Top Spenders in Walmart

Walmart is one of the undisputed leaders in the retail industry in the US for decades. However, not all states equally contribute to their revenues. In a study conducted by GOBankingRates, they found that people in Oklahoma spent more money in their Walmart stores compared to the other states on the list. On average, they spent $1,662.43 in 2014. The second top spender is South Dakota with $1,511.86 and Arkansas at third with $1,494.80(Business Insider, 2015).

In the same study, they tabulated the average income of Walmart stores. Walmart stores in South Dakota reported the highest average income compared to other Walmart stores in other states. The average reported income for South Dakotan Walmart stores was $80.62 million. Surprisingly, stores in North Dakota placed second with a reported $51.74 million average income and Tennessee at third with an average reported income of $51.56 million even though they were the bottom two when it comes to average spending in Walmart stores(Business Insider, 2015).

When it came to the estimated sales per state, Missouri clinched the number one spot with $7.46 billion. Also, Tennessee is in second place with an estimated income of $7.37 billion and Alabama in third with $7.16 billion(Business Insider, 2015).

Number of Walmart Employees in the US

Aside from being one of the leaders in retail sales, Walmart is also one of the top private employers in the US. At present, they employ approximately 1.5 million associates (Walmart, 2021) at more than 5,000 stores and clubs nationwide according to Walmart’s report. The average full-time hourly wage for Walmart employees is $14.26 (Walmart, 2021) — almost twice the average national minimum wage.

In a recent study conducted by 24/7 Wall Street, they reported the largest employer in each state. And among the numerous companies, Walmart rose to the top as the largest private employer. Out of the 50 states, Walmart is the top employer in 22 of them.

Among the 1.5 million employees in the US, 950,000 of them are in the states above. Walmart stores in Texas employ 171,531 – the most out of all states. Secondly, Florida with 108,321. Coincidentally, these are also the states with the most number of Walmart stores. Georgia is third with 59,371 employees(24/7 Wall St., 2018).

Workplace Diversity in Walmart

Diversity in the workplace has become a buzzword in the business community over the past few years. In fact, in research conducted by Glassdoor, 67% of job seekers said that a diverse workforce is an important factor for them when considering companies and job offers. Additionally, 57% of the companies’ current employees want to prioritize diversity. Moreover, inclusive companies have higher cash flow — 2.3 times per employee over three years, a study from Josh Bersin reports. In another report by McKinsey, they stated that ethnically-diverse companies are 35% more likely to outrank their competitors and gender-diverse companies are 15% more likely to do the same.

Walmart is not that far-off when it comes to inclusivity.

In 2015, 57% of the total workforce in Walmart are women, 42% of them are part of management, and 32% are corporate officers. Meanwhile, 40% of the total workforce are people of color. With 30% of them working for management, and 22% are corporate officers. The following year saw a small decline in gender-diversity. Only 56% of the workforce are women. Women in management stayed the same but women corporate officers are at 31%. On the contrary, racial diversity increased in numbers. People of color comprised 42% of the total workforce with 31% in management and 22% are officers(Walmart, 2021).

In 2017, gender-diversity took another 1% dip out of the total workforce with 55%. Women in management positions increased by 1% from the previous year and women corporate officers decreased by 1% are. The same year, Walmart became more ethnically-diverse, with 43% of the total workforce are people of color. They share 31% of the management positions, and 21% are corporate officers. The following year, gender-diversity in Walmart stayed the same across the board. On the other hand, people of color representation gained numbers. They shared a total of 44% of Walmart’s US workforce. 31% were at management and 20% were officers (Walmart, 2021).

At present, gender-diversity in Walmart is still the same as last year. Additionally, racial diversity in Walmart’s workplace is also the same in 2018. The only notable difference is that 33% of management are people of color — an increase from last year’s 32% (Walmart, 2021).

Demographics of Walmart In-Person Shoppers

With the advent of eCommerce, the retail sales of brick-and-mortar stores are expected to shrink over time. However, big-box retailers that have been in the industry for decades like Walmart remain unfazed, remaining relevant in the business industry continuously shaped by ever-changing technology. One thing’s for sure — Walmart’s brick-and-mortar stores have developed a strong foothold in the retail industry with the help of their loyal shoppers. But who are these Walmart shoppers?

Walmart Shoppers by Race

According to a study conducted by Business Insider, Kantar Media, and Statista, they estimated that 70% of Walmart shoppers are White. Secondly, 12% of shoppers are Black. Thirdly, 11.5% of shoppers are Hispanic. Lastly, other ethnicities comprise 3% of the entire population of Walmart shoppers(Kantar Media/Statista, 2018).

Walmart Shoppers by Income

In the same study, they also identified the annual income of the shoppers. The income of Walmart shoppers that occupy the largest chunk is those earning 25,000 to 49,900 US dollars per year with 26.8%. The second-largest population of Walmart shoppers is those earning 25,000 US dollars or less with 26.1%. Third place belongs to shoppers with annual earnings of 50,000 to 74,900 US dollars with 11% (Kantar Media/Statista, 2018).

Walmart Shoppers by Age

Furthermore, the demographics of Walmart shoppers were classified by age. They reported that the age range of the largest population of shoppers is between 45 and 54 at 20.6%. Ages 65 and above fell in second place with 20.4%. The third-largest number of Walmart shoppers belong to ages between 55 and 64 with 18.1%. Ages 35 to 44 are in fourth place with 17.9%. They are followed by ages 25 to 34 with 17%. The least number of Walmart in-person shoppers belong to ages between 18 and 24 with only 4.9% of the total number of shoppers(Kantar Media/Statista, 2018).

Walmart Shoppers by Generation

Finally, they broke down the demographics by identifying the generation of shoppers. Baby Boomers, born 1946 to 1964, are the largest number of shoppers in Walmart with 36.6%. Generation Y, born 1982 to 2002, followed with 21.3% of the shoppers. Generation X, born 1965 to 1981, placed third with 21.1% of the shoppers. Lastly, Seniors, born before 1946, consist of 9.8% of the shoppers(Kantar Media/Statista, 2018).

Walmart in Figures

Brick-and-mortar retail sales account for 94% of the entire retail sales(Business.com, 2017). This data makes one thing clear: online shopping still hasn’t eclipsed the relevance of in-person shopping.

The Walmart brand is one of the leading retailers in both the brick-and-mortar and eCommerce landscape. Their performance in both fields is enough to put them on top of every list.

Brand Value of Walmart

It was 1991 when Walmart first expanded internationally. The first Walmart outside the US was built in Mexico. Since then, the number of Walmart stores internationally has grown exponentially. Today, there are almost 6000 stores in various countries outside the US.

Being one of the biggest retailers in the world, it’s not surprising that Walmart is one of the most valuable brands worldwide. At number eight, Walmart’s value was estimated to be at $77,520 billion in 2020(Brand Finance, 2021).

Revenue of Walmart in the US

In a recent study conducted by Trefis.com, they reported Walmart’s annual income in the US until 2018. In addition, they also forecast the income in the succeeding years until 2025. This year, Walmart US is predicted to earn $356.91 billion — a 3.75% increase from 2019’s forecast. However, the forecast for year-on-year growth from 2021 onward sees an average rate of 2%(Trefis, 2019).

Share of Walmart Sales by Division

Last year, Walmart’s reported annual revenue is $520.6 billion. Out of the 2020 revenue, $341.7 billion, or roughly 66% is from Walmart US, $120.1 billion is from Walmart International, and $58.8 is from Sam’s Club (Walmart, 2021).

Retail Trends in the 2020s

The arrival of various brands like Amazon and Alibaba shook the table. The eCommerce industry is on a roll these past few years as trends to keep raising customer satisfaction like AI chatbots and personalized shopping continue to become more widespread. Prior to the pandemic, consumers worldwide spend more on food items. But due to the COVID-19 pandemic, people tend to prioritize health and hygiene products, especially among American adults (Statista, 2020).

Meanwhile, experts predict that as eCommerce brands expand, online stores are also predicted to open physical or pop-up stores. This is evident with Amazon’s 4-Star Stores, including Amazon Go and Amazon Books. Aside from that, traditional brick-and-mortar stores such as Walmart are incorporating some aspects of online shopping to improve customer experience. They equip their store employees with a device connected to their online store, allowing shoppers to select a product to receive in their home or delivered to their chosen Walmart location.

Moreover, sales of private labels are rising according to the report by CB Insights. In fact, private labels sell three times as much as branded products. Millennials are the driving force behind this growth; on average, private labels comprise 25% of a typical shopping but for millennials, it’s 32%. And in line with this, Walmart US had just launched its Walmart Media Group, an in-house ad agency.

In sum, these are only a few of the looming trends that will be affecting the retail industry in the future. As the demand for retail shopping increases, more trends and buzzwords are sure to appear.

Key Insights

• Walmart’s Expansion and Impact: As of 2020, Walmart operates 4,756 stores in the US, significantly influencing the national economy.
• COVID-19 Effects: During the height of the COVID-19 pandemic, Walmart saw a dramatic increase in foot traffic and partnered with the CDC to aid in vaccinations.
• Geographic Distribution: Texas, Florida, and California lead in the number of Walmart stores, with Texas having the most at 516 stores.
• Consumer Spending: Oklahoma residents spend the most per capita at Walmart, while South Dakota stores have the highest average sales.
• Employment: Walmart employs approximately 1.5 million associates in the US, with Texas having the highest number of employees.
• Diversity: Walmart emphasizes workplace diversity, with significant representation of women and people of color in its workforce.
• Shopper Demographics: Walmart’s in-person shoppers are predominantly White, with the majority earning between $25,000 and $49,900 annually. The largest age group of shoppers is 45-54 years old.
• Brand Value and Revenue: Walmart is among the top valuable global brands, with significant revenue contributions from grocery, general merchandise, and health & wellness categories.

FAQ

1. How many Walmart stores are there in the US? As of 2020, there are 4,756 Walmart stores in the United States.
2. What was the impact of COVID-19 on Walmart stores? During the COVID-19 pandemic, Walmart experienced a significant increase in foot traffic. From March 9 to 15, 2020, there was a 47.57% year-over-year increase in foot traffic. Walmart also partnered with the CDC to help vaccinate Americans.
3. Which state has the most Walmart stores? Texas has the most Walmart stores with 516 locations.
4. Which city has the most Walmart stores? San Antonio, Texas, has the most Walmart stores, with a total of 29 locations.
5. Who spends the most at Walmart? On average, residents of Oklahoma spend the most per capita at Walmart, with an annual spending of $1,662.43.
6. How many people does Walmart employ in the US? Walmart employs approximately 1.5 million associates across the United States.
7. What is the demographic breakdown of Walmart shoppers? Walmart’s in-person shoppers are predominantly White (70%), followed by Black (12%) and Hispanic (11.5%). The majority of shoppers earn between $25,000 and $49,900 annually.
8. How does Walmart fare in terms of workplace diversity? Walmart has a significant representation of women and people of color in its workforce. In 2019, 57% of the total workforce were women, and 44% were people of color.
9. What is Walmart’s brand value? In 2020, Walmart’s brand value was estimated to be $77.52 billion, making it one of the most valuable brands worldwide.
10. What are the major revenue sources for Walmart? Walmart’s major revenue sources in the US include grocery, general merchandise, and health & wellness products, with grocery sales accounting for the largest share at 56%.

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