Walmart Inc. is beefing up its third-party online marketplace to become a major competitor with Amazon. The mass merchant just hosted its first Seller Summit event for retailers on the marketplace. It showed how serious Walmart is about making its own marketplace a serious competitor to Amazon.com Inc.

Walmart ranks No. 2 in the Top 1000, Digital Commerce 360’s ranking of North America’s online retailers by web sales. Amazon ranks No. 1 in the Top 1000. Walmart is also No. 9 in the Global Online Marketplaces Database, Digital Commerce 360’s ranking of the top 100 online marketplaces. Amazon is No. 3 in marketplaces.

Both retailers operate hybrid marketplaces, meaning they sell goods themselves alongside products from third-party sellers. That’s in contrast to pure marketplaces like eBay and Wish.com, where all goods are sold by third parties. “In general, hybrid marketplaces outperformed pure marketplaces in 2022 and will continue to do so this year, as a hybrid operator can more easily moderate its own sales than that of outside sellers,” Digital Commerce 360 senior analyst James Risley says.