Walmart ditches e-commerce in Brazil
Walmart is reviewing its digital strategy in Brazil and has shut down its online marketplace in the country as part of the process.
The decision to end the e-commerce operation, which offered products from third parties in addition to Walmart's own, comes as the company takes "initial steps towards the reformulation of its digital strategy."
According to Walmart, the marketplace was not a significant revenue stream for the company. Some 70 staff of the 90 employees working on the platform were made redundant as a result of the changes.
The firm is working on a new omnichannel strategy, it said, which is yet to be announced. In parallel, Walmart Brazil will focus on areas such as physical stores and wholesale, where it sees "enormous potential."
After seeing a 12 percent increase in sales in 2018, the Brazilian e-commerce segment is predicted to deliver another year of double-digit growth.
According to research from consultancy firm E-bit, online sales in Brazil should jump 15 percent in 2019, generating about 61.2 billion reais ($15.3 billion).