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.
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.
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:
To get started on the Walmart Marketplace, you need to meet certain qualifications:
Now, let’s go through a simple step-by-step guide to help you get started with the Walmart marketplace:
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.
After creating your account, you'll need to complete a three-step setup process: Business Verification, Payments, and Shipping.
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:
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.
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.
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:
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.
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.
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.
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.
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.
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.
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.