👟 Walmart teams up with StockX
Walmart is partnering with StockX to expand its product offerings. Starting next week, Walmart.com will feature hundreds of highly sought-after sneakers, including Nike Jordan 1s and New Balance, all pre-verified by StockX. This is the first time StockX will sell through another marketplace. Manish Joneja, Walmart’s senior VP of U.S. Marketplace, confirmed that this collaboration is part of Walmart’s broader strategy to offer more of what customers want.
🛒 StockX reaches Walmart’s customers
StockX is known for its real-time pricing on shoes and other items, allowing customers to buy or sell anonymously. Through this partnership, StockX sellers will have access to Walmart’s vast customer base, allowing them to grow sales without compromising their StockX volumes. According to StockX, Walmart’s marketplace will introduce many new buyers to their platform, making it a win-win for both companies.
📈 Walmart Marketplace’s continued growth
Walmart Marketplace has been expanding rapidly, seeing 30% growth over the last four quarters. Manish Joneja highlighted that bringing on popular brands like StockX is key to this expansion. Walmart has been adding more categories, including collectibles, premium beauty products, and secondhand items, all aimed at attracting a wider range of customers. The partnership with StockX is another step in Walmart's plan to offer a diverse assortment for buyers.
🎯 Walmart's push into new categories
Walmart isn’t just stopping with sneakers. Last week, the company announced its entry into the collectibles market, offering items like trading cards and sports memorabilia with 0% commission through October. Its secondhand marketplace, Resold at Walmart, will feature 5M preowned items. Walmart’s push into new categories, including premium beauty and secondhand goods, is designed to keep customers engaged and bring more traffic to its growing online marketplace.
What do you think of Walmart selling StockX sneakers?
