What type of potting mix is it in?

Overpotted, overwatered and undersunned / warmed.

50% perlite cutting into that soil mix will be adequate, but for further intrigue, take a look at the link.

Here is a link that might be useful: Aloe, Aloe

"pot does have drainage at the bottom"

Please explain what you mean by this phrase:

does it mean (1) there's a hole in the bottom (at least one)?

does it mean (2) pebbles or stones at the bottom (in the misguided hope this provides drainage, as used to be advised yrs. ago)?

If your aloe does not recover, keep in mind you can return it at Walmart. Walmart's practice is to NOT water any of their perennials. The store is reimbursed for plants that die, so it loses no money, but it takes money to pay an employee to water, so plants purchased there are often in irreversible shape, but I have "rescued" some from there. Good luck!

Thanks everyone! hoovb - it's an organic mix. I was trying to stay organic but obviously that won't work.

pirate_girl - Yes, there are two holes in the bottom for drainage.

I was hoping to revive it. I just watered it in this photo. I'm thinking maybe the organic soil isn't going to work. Can anyone tell me what soil mix is best for cacti??? Thanks again!

Yes, in fact it's in the link provided to you previously.