Walmart is among the fastest-growing ecommerce stores and online marketplaces in the world. If you want an alternative marketplace to Amazon, Walmart falls as a major contender.
Launched in 2009, the Walmart online marketplace allows third-party vendors to sell products on Walmart.
Walmart sellers have to register to sell on the platform after which they can upload their listings to appear on search results.
Before exploring the Walmart marketplace, you want to know what type of product you will be selling on Walmart. This is a major determinant to succeeding on the platform. You should not assume that products that do well in other stores like Amazon and Shopify will also do well on Walmart.
In this guide, we will look at how to increase online business revenue by choosing the right product to sell on the Walmart marketplace.
Walmart falls as the second-largest e-commerce retailer in the United States, attracting over 100 million visitors to its site and holding about 6.6% market share.
Walmart is a reputable brand trusted by millions of customers all over the world. The platform has lower competition compared to Amazon, making it easy to grow and stand out from the competition.
The Walmart marketplace also offers millions of products, attracting a wide range of customers.
The platform comes with sophisticated tools and features like Walmart Buy Box to improve customer service, increase sales and grow revenue.
You are likely to find a good product at Walmart. The platform has over 35 product categories including electronics, clothing, furniture, home, jewelry, and so on.
However, you should note that some products like perfumes may require special permission before you can sell them on the platform.
There are also items you can't sell on the Walmart marketplace including alcohol, gambling products, tobacco, and so on.
If you are not sure of the product you want to list on the platform, you can contact Seller Support.
Taking out time to choose the right product and know how to sell products on Walmart comes with good benefits in the long run. Instead of blindly listing products on the Walmart marketplace, you can choose products that will perform well and make the required adjustments.
Let's walk through 6 tips to help you choose the right product to sell on the Walmart online marketplace.
Walmart marketplace has over 35 product categories that range from apparel to automotive and much more.
However, Walmart lists a range of products that you cannot list on the platform at all or list without approval. This includes products like artifacts, drugs, explosives, or any product that promotes illegal practices.
It is important to pay attention to the products listed on the Prohibited Products Policy to know which products you can and cannot list.
Products performing well on Walmart can give you an idea of the product categories to go after. You can explore products with Walmart Best Sellers ranking and top-selling items (trending Walmart products).
With the insights gotten from these categories, you can predict which product will make the next bestseller.
Note that, it may not be a good idea to sell a product that is already trending. This is because it may be difficult for you to beat its item and shipping prices. However, you can go for complimentary products or products within their subcategories instead.
Another good way to choose products to sell on Walmart is to explore competitor platforms. This includes platforms like Amazon and Shopify. These platforms are also working towards providing a better customer experience and increasing their sales and revenue. You can look out for best-selling products on these platforms and try to identify gaps you can take advantage of on the Walmart marketplace. Here are a few pages you can check: Amazon Best Sellers, Google Trends, eBay Trending Deals, and so on.
Walmart.com receives millions of unique visitors every month. The platform provides a variety of affordable quality products that attract budget-conscious customers.
It is important to note that Walmart's in-store shopper is different from their online shopper. Several studies reveal that about one-third of online shoppers fall between the age of 23-28 and almost half are married homeowners. This is in contrast to their in-store shopper who falls around the age of 46.
Knowing this, the most popular categories on Walmart.com include Health & Beauty, Household essentials, Clothing, Shoes & accessories, Petcare, and so on.
You won't find products like handmade bags, as Walmart's audience isn't searching for it. It is important to keep this in mind when choosing a product to sell on Walmart.
The goal of any business owner is to make a profit. Walmart is known for offering affordable products. This means you need to make sure your products are priced competitively bearing in mind that you need to factor in some costs. While Walmart charges no setup fees, you will need to pay commission fees for every sale. You will also need to pay other fees including product sourcing fees, advertising fees, and fulfillment fees.
Ensure the numbers eventually align with your expected profit margin. In what ways can you reduce costs to increase your profit margin?
Selling a good product is only one piece of the puzzle. You also need to incorporate special offers that buyers really want. These special offers attract new and existing buyers to your product and also increase your organic ranking on Walmart. Some of these offers include Walmart TwoDay, free returns, and so on.
The Walmart TwoDay is a shipping program that ensures nationwide delivery of products within two business days in the United States. With this program, online shoppers can enjoy free fast two-day delivery. It also comes with a wide range of benefits for Walmart sellers. These benefits include better visibility in search results, higher chances of winning the Buy Box, and eligibility for running Sponsored Product Ads.
To qualify for Walmart TwoDay, you need to ship products within two days for free. This means you need to select products you can ship as quickly as possible.
Now you’ve taken the time to choose the right product, here are simple steps to get started on the Walmart marketplace.
Open a Walmart marketplace account: To become a Walmart seller, simply visit the site and click “Request to Sell”. Fill in the required information and click on “Apply Now”. You will receive an email once approved by Walmart.
Register your business: Once you click the link in your email, you will be redirected to create your Partner Profile. You will need to have documents including your US business address and tax ID, an integration strategy, shipping information, company website, and so on.
Acess Seller Center and complete partner profile. Here, you will see a Launch Checklist that lists some requirements you must have before you launch your account. One of the requirements is to complete your Partner Profile - a page where customers can learn about your business (this includes your business name, logo, tax information, and more).
Setup items for Walmart marketplace: This is where you put in your content, including images, videos, product descriptions, and so on. Fill in the required fields and correct any fields highlighted. Once done, upload to the Seller Center. Once your items are uploaded to Seller Center, they will be moved to Active Status.
Preview your items: In your Seller Center, ‘Preview Item’ to cross-check your content and pricing in Active Status. You want to make sure everything is top-notch, as this is what your customers will see when they open your product page. You can also test your orders by clicking on “Update Inventory”, “Publish Item” and “Purchase Item”. Once you test your orders and verify your account, you can then proceed to the final step.
Once you tick all the boxes on your Launch Checklist, you will get a notification asking you to confirm that you are ready to launch. Once you click on “Confirm”, you will automatically send a launch request. The Walmart team will review your profile and once approved will go live within 24 hours.
The Walmart marketplace gives you the opportunity to increase brand awareness, grow your business and stand out from the competition. Choosing the right product sets your feet on the right path to attaining success on the platform. With the guide above, you should be able to identify what products will be profitable and start selling on Walmart today.