Wal-Mart Stores Inc (NYSE:WMT) announced that it will be expanding its cooperation with JD.Com Inc (ADR) (NASDAQ:JD). The two are hoping to succeed at integrating their platforms, customers resources and as well as the supply chains in China. The Walmart 8.8 omni-channel shopping festival was unveiled on August 8.
Walmart believes that the new initiatives will be instrumental in helping them impress the huge customer-base. Hopefully, shoppers in China will through the various channels gain faster and more convenient access top quality and authentic products.
It is one year down the line since JD.com and Walmart first struck their pioneering partnership. China’s largest online retailer and Walmart came in a joint move to generate exciting new retail and ecommerce initiatives.
The new alliance is in a major way helping provide a major boost to the U.S.-made products in China. This has made it possible for a large number of shoppers to directly purchase products from Walmart stores on the JD.com platform.
The senior vice president of Walmart China eCommerce and Technology, Ben Hassing while recently addressing the company’s board of directors made an important point. He outlined that much had been gained since the establishment of the partnership with JD.com in June last year. This officila expressed great pride in the fact that they had succeeded in making tremendous steps in the expansion the omni-channel strategy. This made it possible for them to better serve customers as well as grow a wide range of businesses across China.
The President of JD Fast Moving Consumer Goods, Carol Fung while addressing news reporters recently said, “As technology pushes the boundaries of what is possible, JD.com and Walmart’s global supply chain excellence offers complementary platforms and a commitment to customers that provides us with an enormous opportunity to define the future of retail in China.”
Walmart is clearly tapping into JD.com’s advantages across big data, logistics and technology. It has become a lot much easier for the provider to reach China’s rapidly expanding consumer class according to Yahoo.
The stock of Wal-Mart closed at $78.52 gaining 2.11% in yesterday’s trading session.