October retail sales show that consumers are still doing well. Census Bureau data shows that retail sales rose 0.4% in October. That was higher than the 0.3% that economists had expected, according to Bloomberg. September’s headline figure was also revised upwards.

LSEG Director of Consumer Research Jharonne Martis says the data point that stood out to her was the annual growth in e-commerce sales. She notes that October’s numbers benefit from Amazon’s (AMZN) Prime Deal Days, but adds that other retailers are joining in on that promotion and offering their own deals. “It tells us that consumers are still attracted to those online deals,” she says.

When it comes to e-commerce, Martis thinks Walmart (WMT) is starting to give Amazon some more competition. Why? “They give consumers the ability to shop the way they want, whether they order on their phone… and pick it up in the store on the way home or just have it delivered there from the store to your home Walmart gives Amazon definitely a lot of competition,” she tells Yahoo Finance.

Watch the video above to hear which companies Martis is watching this holiday season and how the tariffs could impact retailers and shoppers.

For more expert insights and analysis on the latest market action, watch the Morning Brief here.

This post was written by Stephanie Mikulich.