Bloomberg has today reported that Walmart is partnering with Shopify in hopes to grow its third party online marketplace which was first established in 2009. The growth of their online marketplace has been a top priority and since COVID-19 many businesses have had to think of ways to adapt to the new needs of consumers.
“Few companies in the world match the sheer size and scale of Walmart, The deal opens the door for small and medium-sized businesses”
– Satish Kanwar, Vice president of product, Shopify
The partnership will create many more opportunities by introducing a large amount of Shopify sellers to Walmart’s marketplace which is currently home to almost 45,000 merchants. Although Shopify sellers can already be found on the marketplace this partnership will allow for a detailed focus on bringing merchants over and better establishing themselves.
“There are many Shopify sellers who were already on Walmart.com, but we have not penetrated their base to the extent possible, There’s a tremendous opportunity.”
– Clementz, Vice president, Walmart Marketplace
Shopify will also benefit from the partnership which will open doors for its users, Shopify merchants will now have access to Walmart’s customers. The partnership will be great for sellers and brands who are being given the chance to compete with other marketplaces such as Amazon. One major concern that keeps coming up for various online marketplaces is the number of fake items and reviews, and although in Amazon’s case each seller is required to register and await aproval, Walmart’s invite only application process allows them to closely vet sellers.
