Walmart Marketplace is an eCommerce platform that can provide small businesses and individual sellers an excellent opportunity to increase their customer reach.
With millions of visitors and customers on the platform, it offers significant potential for sales and exposure for those who know how to sell on it. However, navigating the marketplace as a new seller can be challenging.
Read on for a comprehensive Walmart seller guide on all the requirements to join the program and the best practices for achieving success.
What is Walmart Marketplace?
Walmart Marketplace is an online platform that allows sellers to sell their products directly to Walmart customers.
Sellers on Walmart Marketplace can access various tools and resources to manage their sales and adjust their performance. These include a seller dashboard that provides real-time sales data and performance metrics. It also has tools to aid you in optimizing your catalog, managing orders and inventory, and tracking shipments.
Walmart also offers ways to advertise and market its items to increase visibility and attract shoppers. Working with the company also gives you access to dedicated support to help you navigate the website and grow your business.
Why Sell on Walmart? 5 Benefits
Becoming a seller on Walmart can give you a range of advantages that you may not get on other eCommerce pages, such as:
1. Millions of visitors and customers
Walmart boasts over 120 million monthly unique visitors, making it one of the top marketplaces in the world.
This vast audience means that Walmart Marketplace can provide you with access to millions of visitors and customers who are already shopping online. The increased exposure and reach can result in increased sales and revenue.
2. Competitive fee structure
The program has a competitive fee structure that the company designed to facilitate your pricing structure. It has no monthly fees; you only pay a referral whenever someone purchases your product. This fee ranges from 6% to 15%, depending on the category.
3. Brand recognition and reputation
Walmart is a well-known and trusted brand with a strong reputation. Because of their audience’s positive association with the company, you can leverage the brand’s authority, build up your brand and reputation, and increase customer loyalty.
4. A range of tools and resources
Walmart Marketplace can give you various tools and resources to develop your entries. These include marketing and advertising, inventory management, and analytics and reporting tools.
You can increase your products’ visibility and sales by utilizing these sources well.
5. Minimal competition
The company has stricter rules compared to other eCommerce websites. Its rigorous application process requires you to meet specific criteria, such as having a U.S. business entity, maintaining positive seller metrics, and passing a background check.
However, you may also see this as an advantage because it can ensure the quality of products and services and reduce competition. It also means that those who shop on the site may inherently have more trust because of Walmart’s policies.
Qualifications to Join Walmart Marketplace
Legal and business requirements
- US Business Tax ID
- Form W9 or W8
- EIN Verification Letter from the Department of Treasury
- B2C US-based warehouse or Walmart-approved 3PL fulfillment provider
- History of successful sales through a marketplace or any other eCommerce platform
- Product catalog with GTIN/UPC GS1 Company Prefix Numbers
- Plans for catalog integration
- Product categories, catalog size, and complete information
How to meet Walmart’s seller standards
Walmart requires its sellers to provide high-quality products that meet their standards.
These regulations mean you should guarantee that your products are free from defects, damages, and other issues affecting their quality. To do this, you can work with reliable suppliers, use high-quality materials, and perform quality control checks before shipping your products.
Walmart is known for offering competitive prices, and as a seller in the marketplace, you should aim to do the same.
Research your competitors and offer competitive prices that still allow you to make a profit. It’s also imperative to regularly adjust your prices to stay viable in the market and confirm that they align with Walmart’s pricing policies.
Availability of items
The website also stipulates that its sellers need to have a high level of inventory availability to ensure that your audience can find the products they need. You should maintain a sufficient inventory and regularly update your merchandise pages to reflect your current stock to meet this standard.
Shipping time and speed
The Walmart Marketplace places a high priority on fast and reliable shipping. As a seller, you must guarantee that your shipping times and speeds are fast and reliable. Shipping your products quickly, providing accurate tracking information, and offering reliable delivery options can boost your credibility.
Customer service record
Walmart Marketplace requires its sellers to have a high level of service. You must be responsive to inquiries and complaints, provide accurate and timely information, and resolve issues quickly and professionally.
To meet this standard, you can communicate clearly with customers, offer easy returns and refunds, and prioritize satisfaction.
How to Sell on Walmart Marketplace
If you want to start selling on Walmart Marketplace, here are the steps to follow:
1. Create a seller account on the platform
First, you need to create a seller account on Walmart Marketplace. To do this, click the “Join Marketplace” button on the Walmart Marketplace website. Follow the prompts to create an account and provide your business information.
2. Fill out an online form and provide documentation
Once you create your account, you must fill out an online form that asks for details about your business, such as your company name, tax ID number, and product categories.
You must also provide documentation, such as your business license and tax identification number.
3. Set up payment and shipping options
After completing the online form, you must set up your payment and shipping options in your account. Walmart supports various payment methods, such as credit cards and PayPal. You must also decide on your shipping options, including shipping rates and delivery times.
4. Upload your product catalog
You can then begin uploading your product catalog to Walmart Marketplace. You can do this manually or by using an integration partner.
5. Configure your settings and preferences
Finally, configure your settings and preferences in your account. These settings include your return policy, managing your orders, and refining your pages to improve your visibility and sales performance.
What is Walmart’s Seller Center?
Walmart’s Seller Center is the company’s all-in-one platform that helps vendors manage their sales and tweak their catalog.
One of its key features is an online seller dashboard that gives you real-time data on sales, orders, and product performance. With this information, you can make data-driven decisions to improve your sales strategies and grow your business.
The Seller Center also offers marketing and advertising tools to help sellers increase their visibility and drive sales. For instance, you can use Walmart Sponsored Products to boost your goods in search results and gain more visibility to potential buyers.
You can also use the Promotions Manager tool to create targeted promotions and discounts to attract your target audience.
Walmart Selling Strategies for Success
As you begin your journey as a Walmart Marketplace seller, here are some strategies you can apply for your brand’s success.
1. Focus on providing high-quality products and customer service
Walmart prioritizes quality and client satisfaction. As a seller on Walmart Marketplace, you should focus on delivering high-quality products and excellent service to keep your patrons happy and returning.
Putting effort into ensuring buyer satisfaction can build a good image and cultivate a dedicated client base, resulting in more sales and profits.
2. Optimize your product listings
To stand out from the competition, optimizing your product listings for Walmart’s search algorithm is essential. These practices include adding relevant keywords, high-quality images, and accurate product descriptions.
By regularly revising your pages, your items will appear higher in search results, increasing visibility and chances to make a sale.
3. Utilize Walmart’s advertising and marketing tools
The program offers various advertising and marketing tools to help you reach a broader audience and increase sales. These include sponsored search advertising, display ads, and Walmart’s Buy Box system. Utilizing these tools can improve your product visibility and drive more sales.
4. Ensure that your order fulfillment process is efficient and accurate
Walmart prioritizes fast and accurate order fulfillment, so it’s crucial to confirm that your order fulfillment process is efficient and precise.
Ensure you have fast shipping, accurate tracking information, and timely customer communication. A positive fulfillment experience can keep shoppers happy and faithful to your brand.
5. Maintain positive customer reviews and ratings
Positive customer reviews and ratings are essential for extending your reach and potential transactions. Encourage your consumers to leave reviews and respond to negative reviews promptly to address any issues and maintain a respectable standing.
6. Offer excellent customer service
Excellent service is crucial for building a respected status and enhancing customer loyalty. Respond promptly to inquiries and concerns and offer flexible return policies to increase customer satisfaction.
7. Regularly analyze and optimize your performance
Regularly analyzing and optimizing your performance metrics can help you identify areas for improvement. Track your sales, conversion rates, and feedback, and optimize your strategy accordingly.
8. Build a brand presence outside of Walmart Marketplace
Building a brand presence outside the marketplace can help increase your prominence and credibility as a seller. This process includes creating a website, social media accounts, and other marketing efforts to promote your business and products.
Dive Into eCommerce Success
Walmart Marketplace provides a unique opportunity for vendors to expand their reach and grow their eCommerce business. While specific qualifications and requirements exist to become a seller in the program, the application process is straightforward, and you can complete it online.
Overall, selling on Walmart Marketplace can be an excellent way for businesses to succeed in the online marketplace and reach new heights of growth and profitability.
Want to learn more about selling online by partnering with a Walmart agency? Contact BeBOLD Digital today to discover our expert eCommerce and beauty marketing agency services and start growing your sales!