Walmart announces USD 14 bln in investments to boost its ecommerce capabilities

Monday 22 February 2021 12:42 CET | News

Walmart has announced plans to invest USD 14 billion to become 'the primary destination for customers'.

According to Yahoo Finance, the company reported in its fourth-quarter announcement that it was going to spend USD 14 billion on enhancements, including in automation, supply chain, and other areas that might boost long-term sales. 

The initiative comes as the company has reported 69% growth in its ecommerce business in the fourth quarter and stated it expected USD 100 billion in ecommerce revenue in the next couple of years. 

However, the process might take some time as many steps such as assortment, choosing the right price, and providing service are involved. Therefore, developing sales online is not an easy thing to do right away, as it takes some time to build those kinds of capabilities, Walmart CEO Doug McMillon said.

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Keywords: Walmart, investment, funding, ecommerce, online payments, retail, merchants
Categories: Payments & Commerce | Ecommerce
Countries: United States
This article is part of category

Payments & Commerce