Report: Walmart to make major investment in China logistics
Walmart will reportedly spend $1.2 billion in China over the next decade to upgrade its logistics infrastructure there.
According to Reuters, Walmart will open or overhaul more than 10 logistics centers in China as part of an effort to better integrate with that country’s “smart retail” movement. As part of that movement, major Chinese retailers such as Alibaba and tech companies such as Internet provider Tencent are making investments to improve digital customer experiences.
Walmart initially launched a “smart retail” program in China in partnership with Tencent in June 2018, focusing on technologies such as precision marketing and payment services. The retail giant announced its new billion dollar-plus logistics program on the Chinese WeChat social media platform, following a truce reached over the weekend by U.S. President Donald Trump and China president Xi Jinping in the two countries’ ongoing trade war.
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According to Reuters, Walmart will open or overhaul more than 10 logistics centers in China as part of an effort to better integrate with that country’s “smart retail” movement. As part of that movement, major Chinese retailers such as Alibaba and tech companies such as Internet provider Tencent are making investments to improve digital customer experiences.
Walmart initially launched a “smart retail” program in China in partnership with Tencent in June 2018, focusing on technologies such as precision marketing and payment services. The retail giant announced its new billion dollar-plus logistics program on the Chinese WeChat social media platform, following a truce reached over the weekend by U.S. President Donald Trump and China president Xi Jinping in the two countries’ ongoing trade war.
To read the whole article click here.