Walmart India announced recently that beginning in July, it will have B2B e-commerce options available to customers. Lucknow and Hyderabad are the two cities the retail chain is will start with, and eventually hopes to add 18 more stores.
Walmart India’s CEO Krish Iyer told Reuters that his company will not roll out to the other stores for the next six months, explaining that they want to hear feedback from customers and iron out any issues.
Currently, Walmart is allowed to retail in the country only as cash-and-carry, not as a multi-brand retailer.
In an interview with Mint, Iyer explained that foreign direct investment in B2C e-commerce is currently not allowed, and his organization will continue to study the regulatory environment.
“We will not jump the gun … primarily because our hands are full at this point in time and there is a lot to be done in cash-and-carry,” Iyer said. “We will continue to follow on our course of establishing B2B e-commerce in all the stores.”
Additionally, Iyer told the news source that he believes that the company can address a $50 billion market out of the total $300 billion worth Indian wholesale market.
“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More