Walmart Marketplace is an online storefront that enables independent vendors to display and sell their goods alongside those offered by Walmart.com. This was introduced in 2009, provides customers with a greater selection of goods.
Walmart recently experienced 79% eCommerce growth in 2020, and it is now expanding quickly. Between July 2020 and July 2021, the number of sellers doubled, and it rose by two-thirds in 2022. Due to the pandemic, there has been such a severe change in consumer purchasing behavior that experts say there is no turning back. Online vendors are becoming more and more aware of the value of utilizing Walmart Marketplace’s advantages and broadening their existing channel portfolios.
In terms of market share for e-commerce, Walmart Marketplace is the second-largest marketplace. Since the epidemic and its new alliances, the platform has continued to accept online shops from all around the world by granting additional seller applications.
Tell us who would not like to capitalize on this opportunity!
But we still would like you to take us through all the reasons why you should sell at Walmart:
- Zero Fees – We all know that you have to pay monthly fees to keep your products listed on other internet marketplaces. You can also be required to pay an item fee or a referral fee in addition to the monthly payments. Because of the way Walmart is set up, you don’t have to pay a monthly fee to sell on Walmart Marketplace, which is one of its main advantages. Instead, you pay a referral fee, which is dependent on the kind of product you’re selling and ranges from 6 to 15%.
- Huge Customer Base – With millions of customers visiting their website and physical shops, Walmart Marketplace offers access to a sizable customer base. Sellers that list their products on the Walmart marketplace have the opportunity to reach a much larger audience.
- Brand Name – Walmart is one of the biggest merchants in the world and has a positive reputation as a brand. Sellers can take advantage of the credibility and renown associated with the Walmart name by selling on their marketplace. As a result, there may be a rise in sales and consumer confidence as well as brand visibility and trustworthiness.
- Enhanced Marketing Tools – In order to increase their sales, Walmart offers a variety of marketing features and tools to its merchants. These choices include those for sponsored product listings, which enable vendors to market their goods to a specific audience. In order to assist sellers in monitoring their performance and perfecting their marketing plans, Walmart also offers analytics and reporting tools.
- Quality customer care – Walmart is known for its top-notch customer care. You can take use of their devoted customer support team as a vendor on their marketplace to aid with any client problems or questions. The total client experience can be improved with this degree of assistance, resulting in favorable ratings and repeat business.|
- Strong Fulfillment Network – Walmart’s nationwide network of warehouses allows them to provide fulfillment services. By choosing their fulfillment program, vendors can utilize Walmart’s effective logistics network and keep their inventory in their facilities. As a result, orders can be filled more quickly and reliably, which can increase consumer happiness and seller ratings.
- Easy Check-out Process – People don’t want to take too long to complete the checkout process, particularly if they are buying goods on mobile devices. Fortunately, Walmart has a productive purchasing system that makes it simple for leads to buy things. To make things easier and faster for customers, Walmart has changed its checkout procedure. Furthermore, their checkout procedure is secure. Because Walmart’s transactions are secured, customers feel more secure when making purchases.
It’s crucial to keep in mind that market dynamics and policies may change over time, so it’s advised to check with the Walmart experts for the most recent information and specifics on how to sell on their platform.
Expert tips to get approved on Walmart Marketplace
The actual application procedure to enter the Walmart marketplace is quite simple: you simply complete a web form. You submit the required documents, which we have talked about in detail in this article, and after that, it’s simply a matter of filling out the appropriate forms. However, after your application has been completed, you cannot amend your responses. It typically takes two weeks to hear back from a submission.
However, application submission is one thing, but acceptance is quite another. Here are some proven strategies to win over Walmart customers.
- Lowest Prices: Walmart places a high priority on providing the best costs, thus they will only work with vendors who will help, not hinder, this objective. Be certain that your pricing are comparable to those being provided on Walmart.com and any other online retail channels. That entails conducting preliminary study and modifying your pricing.
- Quality Customer Service: As much as it cares about your items, Walmart also values the reputation of your brand. They’ll investigate your prior customer service, including any ratings or reviews you may have received from the general public. Ensure that all disagreements have been (amicably) resolved and that you have taken steps to improve your ratings.
- Fast fulfillment: Additionally, Walmart will review your fulfillment history to check for issues like late delivery. Make sure your fulfillment track record is strong because, as a Walmart merchant, you will represent their brand. Walmart provides fulfillment services to assist with that, just like Amazon does. As a result, you have the option to employ their services, manage packing and shipping yourself, or use a third-party source who is not associated with them.
But it’s difficult to enter the Walmart Marketplace. One requirement is that you must apply and get accepted. And even if you manage to get over the initial obstacle, if you really want to succeed in this particular market, you need to be aware of the best practices. We know you cannot wait to start selling and generate more revenue as a company. Get in touch with Optiwise.ai to talk with a Walmart strategist. Let’s start now!