Walmart opens online store on JD.com
April 18, 2017 Category Retail, Weekly
Walmart is hoping to sell more British produce in China after launching a store on the country’s second largest online retailer JD.com, for its UK supermarket chain Asda. Walmart increased its own stake in JD.com to 12.1% after selling its own China e-commerce operation to JD.com in exchange for a 5% stake in the Chinese e-commerce major in June 2016. Asda’s primary offerings on JD.com will be food and health products, including items such as biscuits, coffee, tea bags, nuts, energy bars, and baby food. The companies expect the initial selection of products to significantly expand in the months and years ahead. Using online channels is increasingly seen as a critical strategy for foreign retailers to gain access to China’s growing middle-class. A number of foreign supermarket chains, including the UK’s Sainsbury’s and Germany’s Aldi, have already launched online stores on e-commerce sites run by Alibaba Group. “Selling foreign supermarket products online is a nice touch to enrich the two platforms’ online offerings. But I don’t think foreign supermarkets can create significant sales in China via this cross-border shopping model,” said Lu Zhenwang, CEO of Shanghai-based Wanqing Consultancy. Market research firm eMarketer predicts that China’s overseas online shopping sector will be worth USD157.7 billion by 2020, up from about USD86 billion last year.
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