Walmart to bond with Tencent on advanced digital retailing
Cooperation includes directing social media traffic to Walmart's services, developing facial recognition e-payment and promoting precision marketing
Walmart China has formed a deep strategic cooperation with Chinese tech giant Tencent to work on digital retailing, it was announced on Thursday, The Paper reported.
The cooperation will focus on the realization of full digital operation in Walmart stores, including directing Tencent’s social media traffic to Walmart’s tailor-made services, developing facial recognition e-payment, promoting online and offline precision marketing, and so on.
Earlier in March, the two companies tested the waters of smart stores together. By then, a mini-app was developed to enable customers to finalize payments by scanning the product barcodes with their mobile phone.
Currently, some Walmart stores in 28 cities have adopted the mini-app. It is expected to gradually cover more than 400 stores throughout the country during this year.
This is not the first time for Tencent to bond with foreign retailers. Earlier in January, Tencent said it will make potential investments in Carrefour China and utilize the company’s advanced digital and technical expertise to develop new smart retail projects with the French retailer.