Walmart's Deal With ThredUP Helps Its E-Commerce Position
Walmart (NYSE: WMT) recently announced a partnership with retailer thredUP, which describes itself as the world's largest online thrift store, to offer secondhand clothing and accessories to Walmart's shoppers through the Walmart.com website. This fits Walmart's strategy of beefing up its e-commerce presence to better compete with Amazon.com, Target, and others. A few years ago, it purchased online retailer Jet.com to gain more traction in the space. Now, this new deal allows Walmart.com customers to choose from among thousands of items from thredUP.
With the deal, Walmart is expanding its e-commerce presence while appealing to a younger customer base, potentially attracting a whole new group of shoppers who don't typically frequent the big-box retailer's website.
A selection of ThreadUP apparel available for purchase on the Walmart.com website. Image source: Walmart.
Source Fool.com
