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Walmart plans to invest $50 million

Walmart, the eCommerce giant, has made another big move In China with its eCommerce investment. The company is all set to launch three major eCommerce initiatives in China. The brand will invest $50 million in New Dada — China’s largest local on-demand logistics and grocery online-to-offline (O2O) eCommerce platform.

New Dada is a joint venture part-owned by JD.com, and with this investment in New Dada, Wal-Mart is poised to offer faster delivery to Chinese shoppers in a popular but severely competitive online grocery market. According to available figures, New Dada has over 25 million registered customers and delivers in over 300 Chinese cities.

As per the latest investment by Walmart, it further extends its agreement with JD.com, which uses New Dada’s network to offer customers two-hour delivery on groceries ordered. This service is valid when you make the purchase from Walmart stores through the JD Daojia Dada app. This new service complements the 426 stores that Walmart operates in nearly 170 cities.

According to a company statement, the brand is creating seamless shopping experiences that bring together the stores, sites and apps to make shopping faster and easier, all around the world for the consumer as well as for the retailer.

As China’s O2O retail industry continues to evolve and grow, the New Dada is expecting to deepen the cooperation with Walmart to give consumers convenient access to a wide range of high-quality goods delivered to their homes and offices in record time.

According to company the statement, Walmart’s next move is to double the number of its stores by the end of the year that offer two-hour delivery .