Walmart partners Shopify to expand online business

BOSTON: Walmart Inc. (NYSE: WMT) has partnered with e-commerce firm Shopify Inc (NYSE: SHOP), 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 Inc (NYSE: SHOP) 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 74% surge in quarterly e-commerce sales and discontinued operations at e-commerce start-up Jet.com, which it had acquired for $3.3 billion in 2016.

Shopify Inc. (NYSE: SHOP) is a Canadian multinational e-commerce company headquartered in Ottawa, Ontario. It is also the name of its proprietary e-commerce platform for online stores and retail point-of-sale systems.

Walmart Inc. (NYSE: WMT) helps people around the world save money and live better – anytime and anywhere – in retail stores, online, and through their mobile devices. Each week, approximately 220 million customers and members visit approximately 10,500 stores and clubs under 48 banners in 24 countries and eCommerce websites. With fiscal year 2021 revenue of $559 billion, Walmart employs more than 2.3 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. www.walmart.com