Walmart Imposing Fees On Vendors
Walmart Canada has begun to impose additional charges on its vendors, says a Financial Post report. It is imposing a 1.25 per cent charge on the cost of all merchandise sold to the merchant as well as a further five per cent levy on merchandise sold online. The charges will reportedly assist in funding the retailer’s Canadian operations refresh with funds put toward store revamps, supermarket delivery, and distribution hubs. Adam Grachnik, a representative for Walmart Canada, is quoted as saying, “We launched the initiative because the Canadian retail industry is evolving and the way we work with suppliers needs to change, too.” The move comes as Walmart plans to spend $3.5 billion to improve retail locations in Canada and modernize technology in its retail locations.