Walmart marketplace was created back in 2009. Nowadays it numbers about a thousand vendors, among them such companies as eBags, Wayfair etc. Their products are listed together with the company’s goods and are marked as Walmart marketplace listings. You would not find these products in Walmart physical stores. For vendors who are interested in selling on Walmart marketplace, the benefits are obvious – an access to a large pool of consumers. In this review, we want to give you some info on how can a potential vendor sell on Walmart marketplace and what he needs to do to start.
Tips on how to join Walmart marketplace
To sell on Walmart marketplace, you need to fill out an application on the store’s site, and if you qualify, you will get an approval of your status by the Walmart marketplace team. The criteria they use to choose vendors to sell on Walmart marketplace are good standing of your company, selling history and acceptance of the Walmart policy and goals. Walmart invites to sell on Walmart marketplace those businesses that can supply the goods that can’t be found in its store. The third-party shops that are selling on Walmart marketplace need to have a direct communication with the clients processing transactions, shipping products, and handling returns.
The good news is that it is entirely free of charge to sell on Walmart marketplace. Only when the order is fulfilled, the vendor needs to pay a referral to the Ecommerce platform as a small percentage of the total product’s price.
Benefits of selling on Walmart marketplace
It is beneficial for vendors to sell on Walmart marketplace because it brings an enormous exposure to lots of potential buyers. Walmart site can boast eighty million visitors monthly. Also selling on Walmart marketplace is not very complicated: customer can browse and order the products using Walmart site designed to fulfill the orders with minimum efforts. Also to sell on Walmart marketplace is safe for both retailers and customers. Also, sellers get access to a lot of helpful info to get the answers to all possible inquiries about the issues that may arise while selling on Walmart marketplace.
What customers would like to find on Walmart marketplace
People like to shop online to obtain easy access to the products they cannot get in brick and mortar stores. So Walmart invites sellers who offer the goods that the store may not carry to join Walmart marketplace. Third-party vendors need to contest in an assortment of the products and have to provide competitive pricing. Online shoppers wish to get better value and superb shopping experience. Consumers may not even pay attention that they are getting a product from a third-party vendor who is willing to sell on Walmart marketplace even though they can see a distinctive marking on this product listing.
Teaming up with ChannelAdvisor
Walmart marketplace partnered with ChannelAdvisor to get integration opportunities the company provides. ChannelAdvisor collects data from vendors who wish to apply to sell on Walmart marketplace and turn the info to the store to get it approved. Vendors can get some perks from cooperation with ChannelAdvisor including optimization of the selling process, help with accessing a larger pool of customers, expanding brands and opportunities to use marketplace listing software or a listing hub.
Even though Walmart marketplace is not a number one online platform nowadays, it keeps growing and may potentially catch up with its main rival Amazon.com.
Growth potential of Walmart marketplace
As we mentioned previously, Walmart marketplace is competing with Amazon and other Ecommerce platforms boasting the 2nd place according to the number of monthly visitors. Currently, Amazon surpasses Walmart marketplace as far as sales. But those who plan to sell on Walmart marketplace in the nearest future may see a fast growth of this Ecommerce channel as the support to its third-party vendors keeps getting optimized. One of the possible modifications can be a possibility to pick up a purchase from a third-party vendor in one of the numerous physical stores conveniently located across America.
Selling on Walmart marketplace vs selling on Amazon
Walmart marketplace is in competition with Amazon offering more and more exposure to buyers. These two platforms have some major differences. First of all, Amazon is a marketplace for practically any seller, while if you wish to sell on Walmart marketplace you need to get approved by their experts, and it is a complicated process to go through, so just about a thousand merchants have got accepted to this date. Amazon is currently offering FBA (Fulfillment by Amazon), and Walmart marketplace does not. It means that vendors selling on Walmart marketplace need to process and ship their inventory manually from their storage facilities which mean more efforts, time and money.
Another major difference is that Walmart marketplace is more attractive for consumers who want to save and purchase the goods cheaply, while Amazon may offer high-end items to the more affluent audience.
Cooperation between Walmart marketplace and ChannelAdvisor will continue to grow innovative characteristics and create improvements for shoppers and vendors. One of the possible future advantages is connected with peculiarities of selling on Walmart marketplace such as in-store pickup of the goods from third-party suppliers that want to sell on Walmart marketplace, a growing inventory of the products and so on. Also, Walmart marketplace experts are looking into offering options similar to FBA. Currently, the company invites to sell on Walmart marketplace vendors with excellent service, who are already experienced in online sales on Amazon and other online selling platforms mainly vendors of private label goods, clothes, and home products.
It is important to generate good feedback and connect to the customers offering direct communication to improve their buying experience. Third party sellers wishing to sell on Walmart marketplace must get busy optimizing their selling channels to stay in competition with one another. Walmart marketplace is offering its platform to bigger brands. It is practically impossible for small vendors and startups to penetrate this marketplace. Large companies attract more traffic, and that is one of the ways for Walmart marketplace to ensure its future growth.
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