Walmart Brazil, a wholly-owned subsidiary of Walmart Stores Inc, has announced to merge its physical and online stores in Brazil. The retailer is also planning to increase its online marketplace operations, informed a statement issued by the company on Tuesday.
This revamp of Walmart business in Brazil is likely to coast around 1.5 billion reais ($464 million) over the next four years, stated Walmart Brasil.
Walmart Stores Inc. registered an increase in its revenue during the third quarter of the current fiscal owing to a surge in online business clubbed with other developments. The retailer claimed that its online sales increased by 50 per cent during the period under review.
Its international operation also noted a 4.1 per cent surge in net sales to US $ 29.5 billion during the third quarter of this fiscal.
The encouraging third-quarter result came ahead of holiday rush when Walmart is fully prepared with all its strategies in place.
Walmart has already unveiled its holiday season plans to take on its arch-rivals like Amazon and Target in the US market. The company has increased the working hours of the staff to support the customers at