Walmart partners with Chinese fast delivery app Meituan
In August 2024, Walmart changed the nature of its eight-year partnership with JD, the second-largest e-commerce platform in China, by selling its 144.5 million shares in the company for $24.95 each, or roughly $3.6 billion.
At the same time, Walmart has been expanding its proprietary presence in China. August also saw the discounter update its Walmart Cross Border ocean shipping solution to provide seaborne transportation from select ports of loading in China to hosted Walmart Fulfillment Services (WFS) facilities in the U.S. for streamlined sale on its third-party online marketplace.
[READ MORE: Walmart opens hosted U.S. fulfillment to Chinese goods]
Other Walmart China technology innovations have included being one of the first retailers in China to roll out a smartphone app that customers can use in store for scan-and-go as well as for online shopping and delivery tracking, and also opening “cloud depots” to provide one-hour delivery service in areas beyond the reach of a physical Sam’s Club.
Based in Bentonville, Ark., Walmart Inc. operates more than 10,500 stores and numerous e-commerce websites in 19 countries.