[ad_1]
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Judith McKenna, President and CEO of Walmart International, spoke at the investment community's annual meeting Tuesday to explain to investors why the $ 16 billion deal signed in May was key to global expansion of Walmart. Walmart could also learn from its previous mistakes while expanding into China, where it was late to embrace the e-commerce boom."data-reactid =" 16 ">Judith McKenna, President and CEO of Walmart International, spoke at the investment community's annual meeting Tuesday to explain to investors why the $ 16 billion deal signed in May was key to global expansion of Walmart. Walmart could also learn from its previous mistakes while expanding into China, where it was late to embrace the e-commerce boom.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = ""E-commerce currently accounts for only about 2% of retail sales, but its growth is four times that of total retail. And to put you in this context, China was 2% in 2009. And today, it is 25%, "said McKenna. "So we have no doubt that e-commerce in India is the ideal place.""data-reactid =" 17 ">"E-commerce currently accounts for only about 2% of retail sales, but its growth is four times that of total retail. And to put you in this context, China was 2% in 2009. And today, it is 25%, "said McKenna. "So we have no doubt that e-commerce in India is the ideal place."
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "India, which has 1.3 billion inhabitants and an average age of 28, is lagging behind the e-commerce boom compared to other developed markets, but it is quickly on the scale due to the increase in the number of Internet users and cheaper smartphones. The e-commerce market has more than tripled since 2015. Mobile purchases and payments are poised to grow significantly with more than 300 million smartphone users in India today. "data-reactid =" 18 ">India, which has 1.3 billion inhabitants and an average age of 28, is lagging behind the e-commerce boom compared to other developed markets, but it is quickly on the scale due to the increase in the number of Internet users and cheaper smartphones. The e-commerce market has more than tripled since 2015. Mobile purchases and payments are poised to grow significantly with more than 300 million smartphone users in India today.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Online sales in India are expected to reach $ 32.7 billion this year, down from $ 526 billion in the US and $ 1.53 trillion in China, according to eMarketer data. By 2022, India's e-commerce sector will total $ 71.94 billion. "data-reactid =" 19 ">Online sales in India are expected to reach $ 32.7 billion this year, down from $ 526 billion in the US and $ 1.53 trillion in China, according to eMarketer data. By 2022, India's e-commerce sector will total $ 71.94 billion.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "McKenna explained why Walmart was willing to bid against Amazon (AMZN) to acquire a controlling stake in Flipkart. After losing its bid, Amazon has committed to spending $ 5 billion in India, where it is experiencing the fastest growth rate in the number of Premium members. "data-reactid =" 20 ">McKenna explained why Walmart was willing to bid against Amazon (AMZN) to acquire a controlling stake in Flipkart. After losing its bid, Amazon has committed to spending $ 5 billion in India, where it is experiencing the fastest growth rate in the number of Premium members.
<h2 class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Miss Walmart in China"data-reactid =" 21 ">Miss Walmart in China
Walmart store in China (Getty Images)
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "The Flipkart was not cheap, but Walmart learned from its mistakes in China. In 1996, Walmart entered China and opened hundreds of super centers across the country. But when Chinese buyers turned to e-commerce, Walmart experienced a decline in its same-store sales and was pulled out of opening new stores. "data-reactid =" 33 ">The Flipkart was not cheap, but Walmart learned from its mistakes in China. In 1996, Walmart entered China and opened hundreds of super centers across the country. But when Chinese buyers turned to e-commerce, Walmart experienced a decline in its same-store sales and was pulled out of opening new stores.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "In June 2016, Walmart sold Yihaodian, an online grocery business in China, to JD.com, China's second-largest e-commerce platform, just one year after the site was purchased. In May, Walmart opened an online grocery store on JD.com to take advantage of JD's logistics and delivery capabilities."data-reactid =" 34 ">In June 2016, Walmart sold Yihaodian, an online grocery business in China, to JD.com, China's second-largest e-commerce platform, just one year after the site was purchased. In May, Walmart opened an online grocery store on JD.com to take advantage of JD's logistics and delivery capabilities.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "McKenna acknowledged that to conquer India, Walmart needed local skills and talents. Flipkart has proven to be a fast growing e-commerce market leader in India, with a market share of nearly 40%, with a dominant position in key categories such as apparel and apparel. ;electronic. Flipkart was founded by two former employees of Amazon in Bengaluru, India, in 2007. "data-reactid =" 35 ">McKenna acknowledged that to conquer India, Walmart needed local skills and talents. Flipkart has proven to be a fast growing e-commerce market leader in India, with a market share of nearly 40%, with a dominant position in key categories such as apparel and apparel. ;electronic. Flipkart was founded by two former employees of Amazon in Bengaluru, India, in 2007.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = ""There are local businesses with a strong team that are really focused on developing infinite solutions for the Indian customer," McKenna said. "It's a unique market that requires a unique local approach, because there are many Indians. There are 22 official languages in 29 states. Cities and villages are at very different stages of development. " "data-reactid =" 36 ">"There are local businesses with a strong team that are really focused on developing infinite solutions for the Indian customer," McKenna said. "It's a unique market that requires a unique local approach, because there are many Indians. There are 22 official languages in 29 states. Cities and villages are at very different stages of development. "
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "In fierce competition, Walmart does not plan to slow down. "Along with this shift to online and mobile use, Flipkart, Amazon and Paytm Mall are competing fiercely for their share of the Indian market. The three companies are making significant investments, including improved logistics and payment systems, as well as substantial reductions, "says Eric Haggstrom, eMarketer's forecast analyst. "data-reactid =" 37 ">In fierce competition, Walmart does not plan to slow down. "Along with this shift to online and mobile use, Flipkart, Amazon and Paytm Mall are competing fiercely for their share of the Indian market. All three companies are making significant investments, including improved logistics and payment systems, as well as substantial reductions, "said Eric Haggstrom, eMarketer's forecast analyst.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Walmart shares (WMT) rose 2% on Tuesday, closing at $ 95.8 per share."data-reactid =" 38 ">Walmart shares (WMT) rose 2% on Tuesday, closing at $ 95.8 per share.
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Krystal Hu covers e-commerce for Yahoo Finance. To follow her Twitter."data-reactid =" 39 ">Krystal Hu covers e-commerce for Yahoo Finance. To follow her Twitter.
WRead more:
China claims commercial war does not occur
Amazon bought Whole Foods a year ago. Here is what has changed
Amazon and Whole Foods vie for products like Coca-Cola
[ad_2]
Source link
