Home Business Walmart Closes Online Sales in Brazil

Walmart Closes Online Sales in Brazil

Network said it will keep focus on wholesale, retail club and physical retail.

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Walmart Brazil reported on Friday (10) that it has decided to close sales through the internet. According to the company, online trading represents a “minimal share of the company’s total sales.”

The network said it is working on a new business strategy, which should be announced to the market – the company did not need a date.

“Walmart Brazil is announcing today the first steps in the redesign of its digital strategy, initially the marketplace operation will be discontinued, which today represents a minimum portion of the company’s total sales,” the company said in a note.

Walmart also said it maintains its focus on wholesale, retail club and physical retail, “segments in which (…) sees tremendous growth potential.”

In June last year, the private equity fund Advent International acquired 80% of Walmart’s Brazilian operations .

According to Euromonitor International, global provider of strategic market intelligence, Walmart was the largest retailer in the world in 2017, with a 3.3% share of the global market, ahead of Amazon (2.4%) and Alibaba (1, 3%).

In Brazil, Walmart was the 3rd largest retailer, with 2.6% market share in 2017, behind Grupo Pao de Acucar (6.4%) and Carrefour (3.1%).

Brazil is Walmart’s 7th largest market, accounting for approximately 2% of the company’s global sales in 2017, behind the US, UK, Mexico, Canada, China and Japan.