- Retail conglomerate Walmart Inc (NYSE: WMT) and online e-commerce leader Shopify Inc (NYSE: SHOP) announced a major partnership
Retail conglomerate Walmart Inc (NYSE: WMT) and online e-commerce leader Shopify Inc (NYSE: SHOP) announced they have signed a major partnership in order to capitalize on the surge in online ordering during the pandemic.
Through the partnership, about 1,200 new Shopify vendors will be added to Walmart’s third-party marketplace website by the end of the year. The Walmart Marketplace already offers items sold by more than a million businesses.
And Walmart is able to offer products from more U.S.-based small and medium-sized businesses through the partnership
“For years, building an eCommerce Marketplace customers trust has been a priority for our business. That’s why we are joining forces with Shopify, an all-in-one commerce platform used by more than 1 million businesses, to open the Walmart Marketplace to their sellers. As our CEO Doug McMillon recently said, competition is good in the retail business, and we want more retailers not fewer,” wrote Jeff Clementz, Vice President of Walmart Marketplace. “We’re excited to be able offer customers an expanded assortment while also giving small businesses access to the surging traffic on Walmart.com. Shopify powers a dynamic portfolio of third-party sellers who are interested in growing their business through new, trusted channels.”
Shopify is known as a shopping platform that enables anyone to launch their own e-commerce stores without needing to know how to code. And this deal is a big deal for Shopify merchants as it gives them access to Walmart’s massive customer base. And for Walmart, this deal makes it more competitive against Amazon.
“At Shopify, we’re focused on helping entrepreneurs go from just an idea to becoming thriving, scalable businesses. By partnering with Walmart, we will be able to connect merchants with consumers across America within a trusted marketplace, helping merchants drive new sales while consumers discover new products they’ll love,” explained Satish Kanwar, Vice President of Product at Shopify. “Our expertise in multi-channel commerce, combined with Walmart’s reach, will allow us to create better online shopping experiences for merchants and consumers alike.”
