January 30, 2024

How to Get Started with Walmart Marketplace

Walmart is a retail giant with many brick-and-mortar stores and an online marketplace that attracts over 100 million unique monthly visits, making it an excellent platform for businesses to reach a larger audience and increase their sales. 
How to Get Started with Walmart Marketplace
Shannon Okubor
How to Get Started with Walmart Marketplace

How to Get Started with Walmart Marketplace

Selling on the Walmart marketplace can be a game-changer for any business. 

Walmart is a retail giant with many brick-and-mortar stores and an online marketplace that attracts over 100 million unique monthly visits, making it an excellent platform for businesses to reach a larger audience and increase their sales. 

Do you want to join the growing band of trusted Walmart marketplace sellers? It is important to know that Walmart has some specific requirements for getting started on the Walmart marketplace.

In this article, we will go through all you need to know about the Walmart marketplace and dive into the details of how you can get started.

What is the Walmart marketplace? 

Walmart Marketplace is a platform that allows third-party sellers to offer their products on Walmart.com. It serves as a digital marketplace where customers can browse and purchase products from a wide range of sellers, and an extensive selection of products.

One thing that makes Walmart stand out is that it offers high-quality products at affordable rates. As a Walmart seller, you can expand your reach, having access to over 100 million unique visitors every month. 

The platform also has sophisticated tools and services that help sellers promote their products. Some of these tools include the Walmart Seller Center, a portal for managing accounts, listing products, and tracking performance, and Walmart Fulfillment Services (WFS) for managing inventory and logistics. 

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Why should you sell on the Walmart marketplace? 

Selling on the Walmart Marketplace can offer numerous benefits for businesses that wish to expand their online presence and reach a broader customer base. 

Here are a few reasons selling on the Walmart marketplace is good for business:

  1. Massive customer base: Walmart is one of the largest retailers globally, and its online marketplace attracts millions of visitors. By selling on the Walmart Marketplace, you can access a vast and diverse customer base, increasing your product’s visibility and conversion rate. 
  2. Wide range of product categories: The Walmart Marketplace covers a wide range of product categories, from apparel to home goods, electronics, and groceries. 
  3. Established brand trust: Walmart is a well-known and trusted brand. Associating your business with the Walmart name can increase credibility and instill confidence in customers, ultimately leading to increased sales.
  4. Two-Day Shipping Program: With Walmart's Two-Day Shipping Program, you can provide customers with fast and reliable shipping services.
  5. Marketing opportunities: The Walmart Marketplace provides you with various marketing tools, such as promotions, discounts, and the Sponsored Search advertising program. These features can help increase the visibility of your products and drive more traffic to your listings. 
  6. Seller tools and resources: Walmart offers a Seller Center with tools, resources, and support services to help sellers manage their accounts effectively. This includes analytics, customer feedback, and guidelines for optimizing product listings.

Qualifications needed to get started on the Walmart marketplace 

To get started on the Walmart Marketplace, you need to meet certain qualifications:

  • Business Tax ID(s) (SSN not accepted) or Business License Number: This is required to identify your business and verify its legitimacy.
  • Supporting documents to verify your business name and address: This includes documents like your business license or certificate of incorporation, a bank statement showing your business account, and a utility bill showing your business address.
  • History of marketplace or ecommerce success: While this isn't strictly a requirement, having a proven track record in selling products online can strengthen your application.
  • Products that have GTIN/UPC GS1 Company Prefix Numbers: This refers to the Global Trade Item Number (GTIN) or Universal Product Code (UPC) assigned to your products. These numbers are used to identify products globally.
  • Product catalog that complies with Walmart’s Prohibited Products Policy: This means that none of your products should fall under any of the categories listed in Walmart's prohibited products policy.
  • Fulfillment capability: This means that you have a plan for handling the storage, packing, and shipping of your products promptly and efficiently. This includes having a reliable and efficient order fulfillment process in place. You can do this through Walmart Fulfillment Services (WFS), a program that allows you to store your inventory in Walmart fulfillment centers and have Walmart handle the storing, shipping, and customer service. 

Step-by-step guide to start selling on the Walmart marketplace

Now, let’s go through a simple step-by-step guide to help you get started with the Walmart marketplace: 

Step 1: Create a Walmart Marketplace account

To create your Walmart marketplace account, ensure you meet the necessary qualifications and gather all the necessary documents. Next, visit the Walmart Marketplace signup page, fill out the required information, and submit your application. Walmart will then verify your email. Once verified, you can log into your Walmart Seller Center to start your onboarding process. 

Step 2: Complete your Walmart account setup 

After creating your account, you'll need to complete a three-step setup process: Business Verification, Payments, and Shipping.

  • Business verification: Submit your details and complete your Seller Profile. Ensure your tax information matches IRS records so Walmart can verify your business quickly.
  • Payments: Next, indicate where Walmart should send your payments. Keep in mind that there are no setup, subscription, or monthly fees for selling on the Walmart Marketplace.
  • Shipping: Configure your shipping methods and costs. Select your preferred returns method and carriers that fit into your budget. 

Step 3: List your products 

Once your account is verified and your payment and shipping are set up, you can now list your products. You can create your product catalog in different ways: 

  • Single-item method: The single-item method involves adding your products one after the other. This can be ideal if you have very small product catalogs. To add products individually, go to your Seller homepage, go to Product Catalog > Items, and click on Add Items. Next, put in the name of the product in the Search the Walmart Catalog field. If your item is not available, you can click on Create new item to add your product. 
  • Bulk upload: If you have large product catalogs, you can use the bulk upload method to create many products at once. To add products in bulk, go to your Seller homepage, go to Product Catalog > Items, and click on Add Items. Next, use a Walmart template or upload a custom spreadsheet into the designated section. Click next and finish the process to add all items to your catalog. 
  • API integration method: With this method, you connect your catalog programmatically to reflect changes made to your catalog. This means that any changes to your product catalog will automatically reflect on your Walmart marketplace. 

Step 4: Use Walmart's tools to grow your Business

Once your account is all set up and products listed, you can start selling on Walmart! You can use Walmart’s tools like Walmart Fulfillment Services (WFS) to manage inventory and fulfill orders and Walmart Connect to advertise your products and increase visibility. With Walmart’s tools, you can maximize your potential and grow your business quickly. 

How much does it cost to sell on the Walmart marketplace?

Selling on the Walmart Marketplace is free of setup, subscription, or monthly account fees. However, there are costs associated with selling itself. Every time you successfully deliver an order, you are subject to paying a Walmart referral fee. This is a commission paid to Walmart and is calculated as a percentage of your product’s selling price.

The referral fees vary depending on the item category you are selling. The rates range from 6% to 15% of the item price. 

If you're using Walmart Fulfillment Services (WFS), you will need to pay storage and fulfillment fees which depend on the size and weight of your product. Walmart has a fee calculator to help you figure out and plan for your expenses. Keep in mind that your products must meet a certain length and weight requirement to be approved for WFS.  

6 best practices for success on the Walmart marketplace

Being successful on the Walmart Marketplace requires strategic planning, continuous optimization, and a commitment to meeting customer expectations. Here are some best practices to help you thrive as a seller on the Walmart Marketplace:

  1. Optimize your listing content
  2. Use quality images and videos 
  3. Manage your inventory effectively 
  4. Take advantage of Walmart's marketing tools 
  5. Offer excellent customer service
  6. Monitor your performance 

Optimize your listing content

To be successful on the Walmart marketplace, continuously refine and optimize your product titles and descriptions for search engines. The first thing people will see is your product title, so consider including words that are product-specific and unique. Also, keep in mind that shoppers use certain search queries or keywords to find your products on Walmart Marketplace. Add relevant keywords to your listings to increase visibility on search results. 

Use quality images and videos 

Using low-quality images can affect a consumer’s shopping experience. You want to use clear high-quality images and ensure your product images communicate the value of using your product. Instead of a single shot, consider uploading multiple shots of your product from different angles. 

In addition, you can upload short product videos showing your product in action. This adds more context to your listings ultimately increasing your conversion rate. 

Manage your inventory effectively 

Keep your inventory updated to prevent overselling and ensure timely order fulfillment. You can utilize inventory management tools to track and manage your stock levels. You can also invest in an inventory tracking system especially if you sell on multiple platforms. This will help you manage changes in your product inventory across all platforms and reduce the risk of errors. 

Take advantage of Walmart's marketing tools 

Leverage Walmart's marketing tools, such as promotions, discounts, and Walmart marketplace ads. You can choose to run different types of ads on the Walmart marketplace. This includes Sponsored Products, Sponsored Brands, and Sponsored Video ads. With Sponsored Products, you can target customers looking for specific products on Walmart. Sponsored Brands allow you to promote your brand along with your brand offerings rather than a specific product. Sponsored Videos allow you to create targeted video ads that improve your discoverability. 

You can also use emails and social media to promote your products, build customer relationships, and drive traffic to your Walmart Marketplace store. 

Offer excellent customer service

Today, customers have shorter patience for order delays and other related issues. As such, providing excellent customer service is more important now than ever. Ensure you handle order fulfillment with accuracy and timeliness. Pay attention and respond to customer inquiries promptly and in a professional way. You also want to be proactive by keeping customers informed about the status of their orders and any potential delays.

Overall, seek to create a positive shopping experience for your customers. Ultimately this can increase customer retention and brand loyalty. 

Monitor your performance

Regularly check your Walmart Seller Center for performance metrics, customer feedback, and sales data. Analyze your performance data and make adjustments to your strategies to improve sales and customer satisfaction.

Wrapping up 

Selling on the Walmart marketplace comes with numerous benefits. You can tap into the platform's massive customer base, expand your online presence, and increase sales. 

If you're wondering if the Walmart marketplace is a good fit for your business and need some professional help, you can contact experts at ePlaybooks to book a consultation session. 

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