Walmart is a multinational retail corporation specializing in hypermarkets, discount department stores, and grocery stores. But beyond its traditional brick-and-mortar retail services, Walmart has been making active strides in the digital space. This shift can be attributed to the changes in the digital world, where businesses are expected to meet their customers’ needs through innovative technological solutions.
Recognizing these trends, Walmart has been engaging in a plethora of partnerships aimed at enhancing its services, strengthening its competitive advantage, and positioning it at the forefront of digital innovation. The partnerships encompass diverse fields such as eCommerce, health tech, artificial intelligence, cloud computing, and fintech, among others.
The Microsoft Partnership
One of Walmart’s most high-profile collaborations was announced in July 2018 with technology giant Microsoft, which was primarily aimed at accelerating Walmart’s digital transformation. The five-year strategic partnership will see Microsoft’s competent engineers work alongside Walmart’s workforce and provide entrance into the computing technology world with its innovations.
This partnership is expected to leverage Microsoft’s broad-reaching cloud solutions, providing a digital uplift that includes data estates, machine learning, business applications, and office productivity. By aligning with Microsoft, Walmart is aiming to redefine productivity, seize business opportunities, and drive growth.
The Shopify Partnership
Another significant partnership Walmart has engaged in is with Shopify. Walmart’s partnership with Shopify has been instrumental in its eCommerce initiatives, enabling it to remain competitive. The partnership allows approved Shopify retailers to list their items on Walmart’s online platform, thereby expanding its digital product catalog.
This collaboration offers an excellent strategic fit for Walmart that aims to scale its eCommerce presence faster while positioning itself as an attractive online marketplace for third-party sellers.
The Adobe Partnership
Walmart teamed up with Adobe in July 2021 to integrate its marketplace, online, and in-store fulfillment services into the Adobe Commerce Platform. This partnership aims to bring Walmart’s omnichannel capabilities to other retailers by allowing Adobe’s retail customers to leverage Walmart’s supply chain capabilities.
This move not only cements Walmart’s dedication to digital transformation but also enables it to tap into new revenue streams by offering B2B services and potentially sharing its expertise.
The TikTok Partnership
Walmart’s move into social commerce was evidenced by its waged bid, alongside Microsoft, to acquire popular social media app TikTok’s operations in the U.S. Adds to this, Walmart has decided to partner with TikTok for the first shoppable live-stream event on the TikTok platform. The event allowed users to shop for Walmart fashion items from the TikTok app.
This experiment highlighted Walmart’s commitment to innovating its shopping experience and meeting its customers where they are in today’s digital age.
Conclusion
Walmart’s partnerships and collaborations in the digital space underline its commitment to innovation and transformation. Despite operating in a traditional industry, Walmart recognizes that digital survival necessitates more than just a presence, and these partnerships represent avenues for growth and enhance the Walmart brand in a digital competitive environment. By leveraging each partner’s unique strengths, Walmart is positioned to redefine commerce and pave the way for the future of retail.
FAQs
Why has Walmart partnered with Microsoft?
Walmart has partnered with Microsoft to accelerate its digital transformation. This collaboration helps in boosting the company’s online shopping business and aids in data collection to improve customer experience.
What is the purpose of the Walmart-Shopify partnership?
This partnership enables approved Shopify sellers to list their items on Walmart’s online platform, expediting the growth of its online presence while offering a more comprehensive range of products to its customers.
What does the Walmart-Adobe partnership aim to achieve?
The Walmart-Adobe partnership aims to integrate Walmart’s marketplace, online, and in-store fulfilment services into the Adobe Commerce Platform, providing Adobe’s retail companies access to Walmart’s supply chain capabilities.
What is the significance of the Walmart-TikTok partnership?
The partnership represents Walmart’s efforts to innovate the shopping experience and reach its customers in new ways, like social commerce.
How do these partnerships help Walmart?
These partnerships enhance Walmart by strengthening its digital presence, providing new avenues for growth, expanding the range of its services, and cultivating a competitive advantage in a changing digital retail landscape.