The platform has some even bigger news to share this month. Shopify recently decided to partner up with Walmart, which aims to add over 1,200 Shopify sellers to its online marketplace.
The move is part of Walmart’s plan to scale their eCommerce operations, which skyrocketed during the COVID-19 pandemic. Let’s find out what this partnership means for Shopify and eCommerce as a whole:
Another Great Win for Walmart During the Pandemic
It’s worth noting that Walmart has been unstoppable since the pandemic started. While businesses are worrying about reopening, the retailer has set the perfect example of how to respond to an unexpected crisis.
Walmart implemented various actions to help customers meet their needs since the very beginning. These measures included:
- Installing contactless payment systems
- Protecting their staff and customers with plexiglass barriers
- Showing customers how they can buy their groceries online
However, their latest partnership with Shopify is going to make sure Walmart stays on top as the world still battles COVID-19.
“There are many Shopify sellers who were already on Walmart.com, but we have not penetrated their base to the extent possible,” said Jeff Clementz, vice president of Walmart marketplace. “There’s a tremendous opportunity.”
Walmart’s online marketplace already had a 74% surge in quarterly sales last month and is worth $21 billion. The growth is mainly due to customers shopping for necessities such as food, toilet paper, and more.
Both companies have considered collaborating for years but only made it happen recently. The partnership will help Walmart provide more choices for their customers and take its marketplace to new heights.
“We’re excited to be able to offer customers an expanded assortment while also giving small businesses access to the surging traffic on Walmart.com,” continues Clementz. “This integration will allow approved Shopify sellers to seamlessly list their items on Walmart.com, which gives Walmart customers access to a broader assortment.”
How Shopify Merchants Will Benefit From the Partnership
Thanks to the partnership, Shopify’s shares increased by 8.4% to $805.47 in the stock market. Not only is the deal going to benefit Walmart, but it’s also going to help Shopify merchants reach new customers and make more sales.
“Few companies in the world match the sheer size and scale of Walmart,” said Satish Kanwar, VP of Product at Shopify. “The deal opens the door for small and medium-sized businesses to access the 120 million customers who visit Walmart.com every month.”
To sign up, merchants will have to download the Walmart marketplace app for their store. Once approved, they’ll be able to add an unlimited number of items while changing and adapting everything from their admin.
Wrapping Things Up
What makes Shopify stand out from other eCommerce platforms are its frequent updates. They’re constantly releasing new features and partnerships with top brands that benefit merchants in their daily activities.
As a Shopify partner, Parkfield always looks forward to seeing what the platform has in the works for the upcoming months. Feel free to check out our latest round-up post to learn more about the updates that came out in May.