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09/02/2024
Walmart Aims to Supercharge eCommerce Growth With Marketplace Push
PYMNTS
Walmart’s eCommerce business has increased in the past few years, and now, to take that growth to the next level and better compete with rival Amazon, the retail giant is looking to grow its marketplace offerings.
The company announced Tuesday (Aug. 27) a range of updates to its offerings for third-party sellers. At its 2024 Walmart Marketplace Seller Summit, the superstore chain announced the introduction of new product categories such as Premium Beauty and pre-owned merchandise, as well as features designed to simplify cross-market selling.
“We’re executing strategic priorities at Walmart that are helping us to become the customers’ first choice — every day, every season, for every item,” Tom Ward, executive vice president and chief eCommerce officer at Walmart U.S., said in a statement Tuesday. “Walmart Marketplace is a key component of that mission.”
The company also discussed plans for multichannel fulfillment, allowing sellers to use Walmart’s logistics network to fulfill orders from other eCommerce sites, and a cross-border import service to streamline global shipping. In each quarter of the last year, the marketplace has yielded sales growth of more than 30%.
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