China gets to experience first high technology based store owned by Walmart
With the flourishing retail and online food delivery market of China, the American retail corporation, Walmart has opened a smart retail, high technology operated store in the southern city of Shenzhen, China.
Walmart is known for running a chain of departmental retail and grocery stores. The U.S based company is the world’s largest company by revenue – approximately US$480 billion according to Fortune Global 500 list in 2016. Currently, the company owns successful stores in United Kingdom, South America, and China.
The Walmart Chinese edition store is set to stock around 8,000 items ranging from stir-fried clams to fresh fruit, out of which, 90% will be available online.
Local customers can order their food items through a mini program on Tencent’s WeChat whose small amount of shares are owned by Walmart. The online shoppers who live within 2 kms radius can get the items delivered within 29 mins. For overseas online customers, the Chinese retail store will be accessible via JD.com.
This rise in the retail and technology market of China has been a result of mergers and takeovers by giant e-commerce companies like Alibaba and Tencent. They have revolutionized and refined the online food delivery and other retail shopping experiences.