We know that e-commerce is a major market all over the world and especially in the countries such as the US, UK and India as well as China where the population is so much that every e-commerce platform can have their particular set of audience. Talking about the popularity of e-commerce, we know that it has grown so much that the retail business, more specifically the offline business, is hurting. As per a figure, e-commerce now accounts for more than 14% of all retail sales around the world. While this might not sound like a big number, it is staggering if you imagine the number of sales that are included in 14% of the total sales.
Talking about e-commerce, some of the big names in this segment are the likes of Amazon, Walmart, Alibaba and others. As far as Walmart is concerned, we know that its business in the US and Canadian markets is thriving. However, Walmart is not limited to the North American countries and it has expanded to other countries too. While we know that Walmart has bought majority stakes in India’s Flipkart in India, its strategy is different for other regions. It has to be noted that there is an e-commerce company called VTEX which is being used by Walmart in some countries to expand their operations.
VTEX offers end-to-end e-commerce service covering things like order and inventory management, front-end customer experience and customer service which is being used by Walmart where it is not possible for them to have their own services set up. Now, VTEX has raised a huge round of funding and it is led by SoftBank’s LatAm fund. As per TechCrunch’s report, VTEX raised $140M in funding which will be used for growing into more international markets by the company. VTEX’s co-founders said that while the valuation will not be disclosed, they still have more than 50% stake of the company with them.