Walmart continues to make waves across the globe as the retail giant acquires e-commerce site Cornershop for NZD 343 million. Cornershop is an online marketplace that uses crowdsourced deliveries to provide consumers with goods from supermarkets, pharmacies and speciality food stores. The platform which is currently available in Mexico and Chile is what Walmart calls an “important step forward” that will accelerate the retailer's presence in Latin America.
The news comes after the colossal rise of Amazon in North America. Walmart has been aggressively pursuing global expansion as a way to offset the declining domestic sales the company is experiencing due to Amazon's online domination.
The company already has a strong presence in Japan, China and India and has been continuing to expand its online capabilities in these nations. Mexico currently equates to 44 percent of Walmart’s international locations with 2,398 stores under the Bodega Aurrera, Superama, Walmart, and Sam's Club banners.
Data shows that in 2016 Chile and Mexico both had high internet penetration rates of 78 percent and 45 percent which leads retailers to believe that both of these locations are fertile grounds for e-commerce investments.