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Walmart weds Yihaodian to expand online
By Ding Yining |
October 29, 2012, Monday
|
Online Edition
Online Edition
US retailer Walmart and local online shopping site Yihaodian said they will join hands to run e-commerce business as the US supermarket giant seeks to grab a bigger share of China's online spending.
Yihaodian is poised to take advantage of Walmart's extensive supply chain and partnership with suppliers to expand its product category. It also started selling Walmart's original brand products to strengthen its position as a one-stop online supermarket.
Walmart will utilize Yihaodian's logistics and dispatch system to reach consumers that are not able to visit its retail outlets.
Walmart is also operating its Sam's Club online store in China, and Michael Duke, president and chief executive officer of Walmart, said the company will put the focus on its collaboration with Yihaodian to drive its China sales.
Last week Walmart said it will add 100 new stores in China in the next three years, without disclosing their locations.
This is the company's latest move in China after the Ministry of Commerce gave a nod in August to let the US retailer take a controlling share in the online shopping site.
Yihaodian is poised to take advantage of Walmart's extensive supply chain and partnership with suppliers to expand its product category. It also started selling Walmart's original brand products to strengthen its position as a one-stop online supermarket.
Walmart will utilize Yihaodian's logistics and dispatch system to reach consumers that are not able to visit its retail outlets.
Walmart is also operating its Sam's Club online store in China, and Michael Duke, president and chief executive officer of Walmart, said the company will put the focus on its collaboration with Yihaodian to drive its China sales.
Last week Walmart said it will add 100 new stores in China in the next three years, without disclosing their locations.
This is the company's latest move in China after the Ministry of Commerce gave a nod in August to let the US retailer take a controlling share in the online shopping site.
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