Costco Wholesale Corp. ecommerce sales grew at nearly twice the rate of net sales in Q3, which also marked the sixth consecutive quarter of double-digit year-over-year online growth.
Costco ecommerce sales grow more than 10% again in Q3
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Since the coronavirus pandemic began, people have been loading their pantries with household staples like toilet paper, paper towels, wipes, diapers and hand sanitizer. This panic buying — sometimes even hoarding — has depleted store shelves and disrupted supply chains. It’s also exacerbated a growing problem in the United States: diaper need. Low-income families and parents who have lost jobs due to the pandemic are struggling to afford diapers for their babies. Diminished diaper supplies and concerns about going to the store have put added pressure on families. Even senior adults with incontinence and adults with disabilities are experiencing greater diaper need during these challenging times. Under normal circumstances, one in three families experience diaper need. Diaper banks try to fill the gap by distributing free diapers to those who need them. Now, with widespread unemployment and a disrupted diaper supply chain, such organizations are struggling to meet increased demand with fewer resources.
The company said it achieved its fastest Prime delivery speeds ever so far this year in the U.S. and around the world, with more than five billion items arriving the same or next day globally — an increase of more than 30% year-over-year, the company said. The majority of the items were delivered on behalf of independent sellers via Fulfillment by Amazon. In a post on its corporate website, Amazon said the speed improvements came primarily from shortening the distance deliveries had to travel to reach customers by regionalizing its fulfillment network. In the first half of 2024, Amazon reduced the distance items traveled between its U.S. sites and the customer by nearly 10% year-over-year.
Continued gains from digital media -- and virtually unchanged results from national TV -- helped lift the U.S. ad market to a robust 7% hike in October. Digital media grew 11%, while national TV inched up 1% and radio rose a surprising 16%, Standard Media Index says. On the losing end, out-of-home was down 3%, magazines slid 19%, and newspapers gave up 3%. Click Read More below for additional information.