Walmart collaborates with Shopify to expand online marketplace
Category: #retail  By Saipriya Iyer  Date: 2020-06-18
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Walmart collaborates with Shopify to expand online marketplace

Walmart has recently announced its collaboration with Shopify, an e-Commerce platform, to expand its online marketplace. The collaboration has been formed to gain an advantage over Amazon in gaining 3rd-party sellers.

The recent deal has led to the adoption of Shopify’s platform by nearly 1 million U.S. businesses to market products on Walmart.com, without the need to pay any licensing fee.

According to Jeff Clementz, Walmart Marketplace’s Vice President, the deal will enhance the small- and medium-sized businesses that have been significantly serving customers. The company expressed excitement at gaining a platform to offer an expanded assortment of products to the customers as well as providing various small businesses access to rising traffic on Walmart.com.

Additionally, the move will enable the company to have a competitive advantage over Amazon, whose marketplace of 3rd-party sellers accounts for nearly half of the e-Commerce sales. Amazon is currently under antitrust scrutiny in the United States and other markets over allegations of inappropriate data usage from the 3rd-party sellers to increase product sales.

Shopify has reportedly stated that the company’s new Walmart channel will enable the merchants to offer products to the high-intent buyers, which will aid it to enlarge its reach as well as drive product sales. All U.S. Shopify merchants can apply through Walmart.com for marketing the products, enabling them to easily and rapidly sync the product catalog & create the product listings on the website.

These sellers are required to pay only the referral fee for listing the products on Walmart.com. The two companies are anticipating an additional 1,200 sellers by 2020 end. Walmart has recently terminated Jet.com, its separate e-Commerce site, to focus on sales via its own brand.

The deal comes along the heels of the accelerating online sales on various platforms such as Amazon amid the ongoing COVID-19 pandemic. For instance, the e-Commerce sales of Walmart increased by 74% in the last quarter.

Source credit:

https://gadgets.ndtv.com/internet/news/walmart-partners-with-shopify-to-expand-e-commerce-marketplace-2247269



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Saipriya Iyer

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Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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