Walmart Marketplace is one of the fastest growing ecommerce channels in the U.S. Expanding to the Walmart Marketplace may be the next step in expanding your business and sales if you’re an established ecommerce seller.
Walmart Marketplace is a site similar to Amazon and Facebook Marketplace, in which producers can sell their products with support from Walmart, Inc. We’re going over the top reasons why you should consider selling through Walmart and how you can get started now.
A Marketplace for the People
The positive attributes of Walmart Marketplace stem from its newness relative to its competitors — the site was launched in 2009 and has only recently started gaining significant ground. To continue attracting new and profitable sellers, Walmart offers an array of unique benefits, such as:
- No monthly fees. Instead of asking for a fixed monthly rate, Walmart takes a referral fee from every sale made through its Marketplace. This is good news for any seller who specializes in seasonal items. However, if your store sells many products, pay special attention to the different referral fees for each category.
- Little competition. Walmart Marketplace is still one of the newest channels in the game. It’s more selective about vendors than Amazon. So once selected, you’ll have fewer stores vying for customers.
- A customer-friendly experience. U.S. consumers recognize Walmart as a big-box store, and many have used its marketplace to place online orders in recent years. Now that it promotes free 2-day shipping (available to most third-party sellers), it’s easier to provide customers with a positive buying experience.
If you want to start taking advantage of the great benefits that Walmart Marketplace offers, first get your ducks in a row. To officially register with Walmart, you’ll need the following:
- Contact and business information, such as your US business ID (they will not accept an SSN), W9 or W8, and EIN verification letter
- Shipping information, including your shipping methods and intended regions
- Payment providers — you’ll need to register with either Payoneer or Hyperwallet
- Product information for your entire catalog, including pricing
- Integration method to help keep your catalog up to date
Once the application process is complete, Walmart will review your submission and let you know if and when you can start selling.
While Walmart prides itself on its ease of use for business owners and distributors, there are a few bits of information to keep in mind to make the transition to selling with them go more smoothly.
- They love a long history. As part of the registration process, Walmart will ask for proof of successful online sales from Amazon or a similar site. A proven track record of sales fulfilled on time gives Walmart evidence of your reputation as a seller.
- Read the fine print. To be approved and start selling, Walmart Marketplace must double-check that your catalog fits within its Prohibited Products Policy. This set of rules covers all the things you’d expect to be banned from third-party fulfillment, i.e., illicit substances, offensive content, and the like. However, certain hazardous food products and materials will also earn you a stamp of disapproval. To speed up the registration process, ensure you follow their rules carefully.
Streamline the Process
Selling your products on Walmart Marketplace is a massive opportunity to grow your business. However, if you already sell on multiple sites or need help keeping track of your inventory, it may be time to rethink your multichannel strategy.
At StoreAutomator, we understand that your ecommerce operation requires the flexibility to keep up with the ever-changing demands of online selling. Our team are multichannel and inventory management experts, and we are ready to help you streamline and grow. Contact sales or schedule a demo to learn more about how StoreAutomator can work for you.