As a business, the goal is to sell more products and generate increased revenue. While Amazon and eBay are well-known platforms for online product sales, Walmart Marketplace has emerged as another excellent option for reaching a broader customer base. On this page, we’ll explore nine compelling reasons why you should consider selling your products on Walmart Marketplace. Let’s delve into them!
1. No monthly fees
One major advantage of selling on Walmart Marketplace is that you are not required to pay a monthly fee.
Instead, you incur a referral fee, which ranges from 6 to 15 percent, depending on the type of product you are selling.
Unlike other online marketplaces where you need to pay monthly fees to keep your products listed, Walmart’s setup is different. In addition to avoiding monthly fees, you may also find relief from referral fees or item fees. This unique structure at Walmart allows sellers to retain more profit for their businesses.
Bonus: You also have the opportunity to advertise and utilize a range of Walmart Marketplace advertising strategies to boost your sales.
2. Low competition
When you list your products in an online marketplace, you will invariably face competition.
Walmart is highly selective about the companies it permits to sell on its site. The acceptance process to become a seller on Walmart is rigorous, but the effort invested in the lengthy process is worthwhile in the end. The barrier to entry is more demanding on Walmart compared to Amazon.
To qualify as a Walmart Marketplace seller, you must:
- Offer excellent customer service
- Present a distinctive product assortment.
- Maintain competitive pricing.
- Ensure prompt and accurate order fulfillment.
These are four of the most significant determining factors for becoming a Walmart Marketplace seller. Walmart evaluates these criteria by examining your reviews, order defect rate, and prices on other sites. If you aspire to sell on Walmart Marketplace, you must meet these qualifications.
Selling on Walmart Marketplace translates to encountering fewer competitors, ultimately generating more leads for your business.
3. Gain brand exposure
Walmart Marketplace assists in showcasing your brand to potential leads. Even if these leads don’t make immediate purchases, they are still exposed to your company name. This exposure can potentially influence them to choose your products when they are ready to make a purchase.
Although there is no direct correlation between Walmart Marketplace and increased website traffic, numerous businesses observe a surge in website visits after listing products on Walmart. This heightened brand exposure has the potential to drive more traffic to your website, ultimately contributing to increased conversions.
4. Reach more leads
Walmart Marketplace enables you to reach a broader audience for your business. Many individuals who shop on Walmart Marketplace may not be Amazon Prime members or infrequent users of Amazon. Some may choose not to pay for a membership but can still enjoy the advantage of two-day shipping on Walmart without the need to join a special program.
It presents an entirely new audience for you to market your products. You can connect with fresh leads on this platform, individuals who may not be reached through your other marketplaces. This opportunity allows you to capture the interest of leads specifically intrigued by your products.
5. Build trust and authority
Walmart is a reputable and trusted brand. Consumers feel confident about buying from Walmart because of its well-established reputation and its commitment to addressing any issues that may arise with purchases. The company has successfully built trust and confidence among its shoppers.
When you sell your products through Walmart Marketplace, you inherit that trust and authority. People will assume that, since your products are sold through Walmart, you have been properly vetted and are qualified to sell on their site.
6. Earn more conversions
The primary advantage of selling your products on Walmart Marketplace is the potential for increased conversions. Walmart attracts a significant number of relevant leads who are interested in purchasing your products.
Selling on the marketplace gives you the opportunity to secure the buy box. Presently, Walmart’s buy box is awarded to the company that provides the lowest price. Leveraging this, you can employ a strategy to earn the buy box. By monitoring your competitors’ pricing and setting your product prices slightly lower, you can secure the buy box, ultimately boosting conversions.
7. Easy checkout process
People prefer a quick checkout process, especially when making purchases on mobile devices. Fortunately, Walmart has an efficient purchasing system that simplifies the buying process for leads.
Walmart has enhanced its checkout process to ensure it is quick and efficient for buyers. When you sell your products on Walmart Marketplace, your buyers undergo a secure checkout process. Feeling confident about inputting their card information, they are more likely to follow through with a purchase. This contributes to more conversions for your business.
8. You only pay when you make a sale
If you’ve ever managed a pay-per-click (PPC) campaign, you appreciate the benefit of paying only when interested leads click on your ad. Walmart takes this concept a step further. They only require you to pay a fee when you successfully sell a product.
This implies that numerous people can click on your product, and you won’t incur charges until they complete a purchase. This makes Walmart Marketplace an exceptionally budget-friendly option for your business, as you only pay when people convert.
Optiwise.ai will help you start selling on Walmart Marketplace
To maximize your reach, it’s essential to capitalize on selling across various marketplaces to connect with potential leads. Listing your products on Walmart Marketplace allows you to reach a broader audience of interested leads looking to make purchases. At Optiwise.ai, we can assist you in setting up your Walmart Marketplace account.
Start selling on Walmart Marketplace today
If you’re prepared to initiate the process of selling your products on Walmart Marketplace, reach out to us to connect with a strategist.
We are excited about the opportunity to elevate your business to new heights.