As of 17/06/2020
Shopify has joined hands with Walmart, as the retail giant enters the online market arena. This is seen as Walmart’s move on to it’s larger plan to compete with Amazon. This collaboration had immediate reactions as Shopify’s share spiked by 8% and that of Walmart by 0.8%, reported Business Insider.
Walmart plans to connect with more and more businesses. This is going to add 1200 Shopify’s retailers to Walmart. Walmart certainly eyes to grow rapidly with Shopify’s more than a Million business strong platform. Shopify also wanted an infrastructure that allowed its businesses to sell their products. Walmart provides that. This is in sharp contrast to that of Amazon which does both itself. The question is whether this two centered front can compete with the centered monopoly of Amazon.
The US eCommerce business grew by 74% in this quarter, read the blog by Walmart, in which the collaboration was announced. Walmart has been occupied more viciously with the online market sphere as the Pandemic hit. The pandemic presented itself with new opportunities. Since, then it has branched decisively into the web. It is expected to do so with a strong ally in Shopify.