Are you ready to catapult your business into the stratosphere of retail success? Welcome to “From Beginner to Pro: Ultimate Guide to Selling on Walmart Marketplace”—the essential roadmap to making your mark on one of the world’s largest e-commerce platforms!
Gone are the days when Walmart was just a physical store where people flocked for budget-friendly groceries and essentials. Walmart Marketplace now stands out as one of the fastest-growing platforms in the United States.
What Is Walmart Marketplace?
Walmart Marketplace is an online platform provided by Walmart that allows third-party sellers to list and sell their products alongside Walmart’s own inventory. This not only benefits Walmart by broadening its product offerings but also provides a lucrative opportunity for small and medium-sized businesses. By listing on Walmart Marketplace, you tap into Walmart’s extensive customer network, thereby significantly expanding your product’s visibility and potential for sales.
What to Sell on Walmart Marketplace?
Before you start listing your products, it’s essential to know what kinds of items you can and cannot sell on Walmart Marketplace. Here’s a breakdown:
Products You CAN Sell
- Electronics: Laptops, smartphones, and accessories.
- Home and Garden: Furniture, cookware, and gardening tools.
- Fashion: Clothing, footwear, and accessories.
- Sports and Outdoors: Camping gear, athletic apparel, and fitness equipment.
- Automotive: Car parts, tools, and accessories.
- Grocery: Packaged foods, beverages, and pantry items.
- Toys and Games: Educational toys, board games, and outdoor playsets.
- Beauty and Personal Care: Makeup, skincare, and grooming products.
Products You CANNOT Sell
- Prescription Medications: This includes any over-the-counter medicines requiring a prescription.
- Tobacco and Alcohol: These products are not allowed.
- Firearms and Ammunition: Walmart Marketplace has a strict policy against selling these items.
- Live Animals: Any type of live animal cannot be listed.
- Counterfeit Goods: Any product that is a fake or unauthorized replica of a branded item.
- Hazardous Materials: Products that contain substances harmful to people or the environment.
Remember, this is just a generalized list and Walmart has specific guidelines that you must adhere to. Always consult Walmart’s terms of service and restricted items list to make sure your product complies.
Is Selling on Walmart Marketplace Worth It?
Wondering if taking the plunge is worth it? Let’s explore some compelling reasons that answer with a resounding ‘yes.’
1. Increased Reach
Selling on Walmart Marketplace isn’t just about listing your products online; it’s about being visible to a massive audience. Walmart attracts millions of shoppers both online and through its brick-and-mortar stores. The sheer volume of potential customers that you can tap into is staggering, making it an ideal platform for anyone aiming to scale their business.
2. Higher Conversion Rates
Window shopping is great, but what you really want are customers who are ready to click that ‘buy now’ button. Walmart Marketplace has the advantage of attracting a customer base that is often already in the mindset to make a purchase. The conversion rates are generally higher, translating to more sales for you.
3. Trust and Credibility
If the Walmart name is associated with your product, you’re already ahead in the trust game. Customers are more likely to feel assured about the quality and reliability of your product if it’s listed on Walmart Marketplace. The platform’s stringent quality checks and customer reviews further solidify this trust.
4. Less Competition
There’s no such thing as a marketplace without competition. However, Walmart’s more intricate application process filters out a lot of potential sellers. This means you’re not just another fish in the ocean but perhaps a bigger fish in a smaller pond.
5. Fulfillment Options
Flexibility is key when it comes to fulfilling orders, and Walmart offers a range of options. Whether you want to handle fulfillment yourself or take advantage of Walmart’s fulfillment services, you have the choice to do what works best for your business model.
6. Marketing and Advertising Opportunities
Visibility is crucial in e-commerce, and Walmart Marketplace offers various ways to make your products stand out. From sponsored product listings to seasonal promotions, the platform provides several avenues for you to market and advertise your product effectively.
7. Easy Integration
For those who are already running an e-commerce business on another platform, the transition to Walmart is often smooth. Businesses can easily integrate their existing e-commerce platforms with Walmart Marketplace, or use Walmart’s own set of integration tools to manage their products.
8. Access to Analytics and Insights
Knowledge is power, and Walmart Marketplace equips you with just that. The platform provides an array of analytics and insights that can help you understand your sales performance, customer behavior, and emerging product trends. This data is invaluable for making informed decisions and optimizing your selling strategy.
Qualifications to Become a Walmart Marketplace Seller
Becoming a Walmart Marketplace seller isn’t as simple as clicking a “Sign Up” button and listing your products. The platform has a set of qualifications and criteria that must be met to ensure the marketplace remains a trusted environment for buyers. Below are the key qualifications you’ll need to meet to sell on Walmart Marketplace.
- Legal Entity: You must operate as a legal business entity registered in the United States. Sole proprietors, partnerships, and corporations all qualify.
- US Business Address: Your business should have a physical address within the United States.
- High-Quality Products: All products must meet Walmart’s quality standards and should be free from defects.
- UPC Codes: Products should have Universal Product Codes (UPCs) for easy identification and tracking.
- Customer Support: A strong customer service process, complete with a support team and communication channels, should be in place.
- Return Policy: A clear and reasonable return policy must be outlined for customers.
- Bank Account: A U.S.-based business bank account is necessary for transactional purposes.
- Payment Gateway: You must be compatible with Walmart’s payment gateways to process transactions.
- Previous Selling Experience: While it’s not strictly mandatory, having previous e-commerce experience can make your application more appealing.
- E-commerce Platform: Your existing e-commerce platform should be compatible with Walmart’s API for easier integration.
- Business Licenses: Copies of business licenses, permits, and any other legal documentation are required.
- Pricing Strategy: Competitive pricing is an essential factor for approval. Your product prices should be in line with or better than similar products on the marketplace.
Application and Approval
- Application Process: You must complete and submit Walmart’s online application form for sellers.
- Approval Time: Upon submission, expect to wait for approval, which may take from a few days to several weeks depending on various factors like product category, quality, and business reputation.
How to Sell on Walmart Marketplace in 9 Steps
Selling on Walmart Marketplace involves a step-by-step process which has been discussed below:
Step 1: Create a Walmart Seller Account
To begin selling on Walmart Marketplace, you need to create a Walmart Seller Account. Visit the Walmart Marketplace website and sign up as a seller. You’ll need to provide some essential information about your business.
Step 2: Complete the Onboarding Process
Once your account is created, you’ll go through an onboarding process. This involves providing additional details about your business, setting up payment and tax information, and agreeing to Walmart’s seller terms and policies.
Step 3: Choose Your Fulfillment Method
You’ll need to decide how you want to fulfill orders. You can either fulfill orders yourself (WFS – Walmart Fulfillment Services), use a third-party fulfillment partner, or leverage Walmart Fulfillment Centers. Your choice will affect your overall selling experience.
Step 4: List Your Products
After completing onboarding, you can start listing your products on Walmart Marketplace. You’ll need to provide detailed product information, including titles, descriptions, prices, and images. Ensure that your product listings meet Walmart’s content and quality standards.
Step 5: Set Your Pricing and Inventory
You have control over your product pricing. Set competitive prices to attract customers. Manage your inventory effectively to avoid running out of stock, as this can impact your seller’s performance.
Step 6: Launch Your Store
Once your products are listed and your store is set up, you can launch your Walmart Marketplace store. Customers will be able to find and purchase your products on the Walmart website.
Step 7: Manage Orders and Customer Service
As orders come in, you’ll need to manage them through the Walmart Seller Center. Fulfill orders promptly, provide excellent customer service, and handle returns and refunds according to Walmart’s policies.
Step 8: Monitor Performance
Regularly monitor your seller performance metrics. Walmart tracks factors like shipping speed, order defect rate, and customer feedback. Meeting or exceeding Walmart’s performance standards is crucial for your long-term success on the platform.
Step 9: Optimize and Expand
Continuously optimize your product listings, pricing strategies, and customer service to improve your sales. Consider expanding your product catalog to reach a broader audience.
How Much Does It Cost to Sell on Walmart Marketplace?
Walmart charges a referral fee, which is a percentage of the item’s sale price, and this percentage varies based on the category of the product being sold. In addition, Walmart may charge a monthly subscription fee for marketplace access, and this fee varies depending on the seller’s size and type. Other fees, like shipping and fulfillment fees, if you use Walmart’s services, may also apply.
Tips for Successful Selling on Walmart Marketplace
Here are some tips that you can follow to successfully sell on Walmart Marketplace:
1. Research and Choose the Right Products
- Conduct thorough market research to identify products that align with Walmart’s target audience and current trends.
- Analyze demand and competition to select products that have a good potential for sales.
2. Optimize Product Listings
- Create product listings that are optimized for search by using relevant keywords. Keyword research can help you understand what terms potential customers are using to search for products.
- Include high-quality product images that showcase your items from multiple angles.
- Write detailed and informative product descriptions that address customer questions and concerns.
- Ensure accuracy in your listings, including product specifications and availability.
3. Provide Competitive Pricing
- Regularly research and analyze competitor prices to determine a competitive pricing strategy.
- Set prices that allow for profitability while remaining competitive in the marketplace.
- Consider offering special deals, discounts, or bundle offers to attract customers and increase sales.
- Monitor pricing trends and adjust your prices as needed to stay competitive.
4. Deliver Excellent Fulfillment and Customer Service
- Implement inventory management systems to ensure accurate and timely order fulfillment.
- Meet or exceed Walmart’s shipping and delivery standards to provide a positive customer experience.
- Respond to customer inquiries and concerns promptly and professionally.
- Address any issues with orders, such as damaged products or shipping delays, by offering solutions and resolving them promptly.
5. Build a Positive Seller Reputation
- Encourage customers to leave reviews and ratings for your products. Positive feedback can significantly impact your sales and reputation.
- Maintain a high level of customer satisfaction by addressing any issues or complaints promptly and effectively.
- Strive for excellence in all aspects of your business, from product quality to customer service.
- Continuously monitor your seller performance metrics to ensure you meet or exceed Walmart’s standards.
Your Marketplace Journey Starts Here
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Can I sell on Walmart Marketplace as an individual or do I need to have a registered business?
You can sell on Walmart Marketplace as both an individual or a registered business, offering flexibility in your selling approach
How long does it take for my products to go live on Walmart Marketplace?
The time taken for your products to go live on Walmart Marketplace can vary, but it typically takes a few days to a couple of weeks after completing the onboarding process and listing your products.
Do I need to fulfill orders or does Walmart Marketplace handle shipping?
You have the option to fulfill orders yourself, use third-party fulfillment services, or leverage Walmart’s fulfillment services. The choice of fulfillment method is yours to make.
What is Walmart Marketplace’s return policy for sellers?
Walmart Marketplace’s return policy for sellers may vary, but generally, sellers are expected to adhere to Walmart’s standard return policy. This includes accepting returns within a specified timeframe and providing refunds or replacements as needed.
Are there any restrictions on pricing my products?
Walmart Marketplace may have pricing restrictions or guidelines in place to ensure fair and competitive pricing. It’s important to review and follow these guidelines to maintain a successful presence on the platform.