Walmart Inc said on Monday it has partnered with e-commerce firm Shopify Inc, as it looks to expand its online marketplace business and cash in on the coronavirus-driven jump in online shopping.
Walmart's logo is seen outside one of the stores in Chicago, Illinois, U.S., November 20, 2018. REUTERS/Kamil Krzaczynski/FilesREUTERS: Walmart Inc said on Monday it has partnered with e-commerce firm Shopify Inc, as it looks to expand its online marketplace business and cash in on the coronavirus-driven jump in online shopping.
Online sales at retailers, from cosmetics makers to pizza chains, have boomed in the wake of the COVID-19 pandemic, which has forced customers to stay indoors.Bentonville, Arkansas-based Walmart said it expects to add 1,200 Shopify sellers to its marketplace this year and the partnership was focused on adding small- and medium-sized U.S. businesses to its platform, Walmart.com.
Last month, the company reported a 74per cent surge in quarterly e-commerce sales and discontinued operations at e-commerce start-up Jet.com, which it had acquired for US$3.3 billion in 2016. U.S.-listed shares of Shopify rose about 3per cent in pre-market trading. They have soared 87per cent so far this year.