Tax Time insights

Cash in on these Walmart customer insights for the tax time shopping season!

Refund relief

For many Americans, tax refunds mean they can finally shop for those items they’ve been wanting. In fact, tax returns received in 2024 led to higher retail sales, despite ongoing inflation concerns.1

For 49% of Americans in 2024, the refunds were a pleasant surprise, but 40% of Americans in 2024, up from 35% in 2023, thought of them as a financial event they rely on.2

The essentials... and then some

When it comes to refunds, practical needs come first. Surveyed Walmart customers tend to use at least a portion of these funds to pay for necessary expenses or purchases, but our customers are also likely to spend on new items and replacement/upgrade purchases.3

Refunds provide a resource for our customers to spend money on themselves (74%), their spouse/partner (46%), and their kids (31%). Walmart customers use tax refund season as an opportunity to move ahead with nice-to-haves, like home updates, entertainment purchases, wardrobe updates, and toys for their kids. And 64% of surveyed Walmart customers reported having shopped with us for their tax time spending.3

Products surveyed Walmart customers purchased with tax refunds received in 2024:3

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Tax refunds fuel spring purchases

Refunds are generally issued around the Easter holiday, between February and May, making it a key shopping time for our customers. In 2024 refunds were significantly delayed, which resulted in our customers making their Tax Season purchases later in the year3, so spending could hit a bit earlier in 2025.

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Insights and actions to help grow your sales

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Sources: 1NRF, Census Data Shows Retail Sales Grew in March Amid Early Easter, Bigger Tax Refunds and More Jobs, Apr. 15, 2024. 2LendingTree survey, January 2024. 3Tax Season 2023 Refund Spend in 2024 Custom Survey,” first-party data, Walmart Customer Spark Community, provided by Walmart Luminate; survey conducted by the Walmart Connect Media Insights Survey team, June 2024.