As for online sellers, the main question always was and always will be: How to set up a successful business to sell products online?
In the past few years, online shopping has become one of the most expanding marketplaces in the US and worldwide. And, of course, every seller wants a piece of the pie which results in millions of dollars per year.
Among the best platforms are Amazon and Walmart. But remember that being a successful seller on one doesn’t mean automatic success on the other. Walmart and Amazon have similarities, but they have differences. You should consider all the factors leading to success and grab at least a small piece of the pie.
First things first, what are the factors that will make you a successful online seller?
How to Be Successful on Amazon and Walmart?
For many years Amazon was the leading online marketplace. The situation is changing now because Walmart’s growth rate is more significant than Amazon’s and should be considered one of the top players.
However, some factors will help you become successful on both online platforms.
Optimized listings
Whether you are selling on Walmart or Amazon, you should ensure that your listings are optimized and use a keyword that will help you be more visible in the search.
High-Quality Product Pictures
Pictures are the ones that can either repel or attract the customer. Blurry, low-quality pictures will make your potential customer purchase the following product without thinking. The pictures should show the product from every angle, so hiring a professional photographer will pay off in the long run if you cannot do it yourself.
Advertising
Make sure you use all accessible tools for advertising both on Amazon and Walmart. Although these programs are not free of charge, they will make you more conversions than just listing your products and waiting for the customer to come to you.
Customer Support
The customers will return and leave a positive review if their shopping experience is excellent and they are satisfied with their product. Be always available for the customer’s questions regarding shipping, receiving, or simply checking if they are satisfied with your service. Positive reviews will lead to more conversions which is your prime goal.
These are the factors that will help you to succeed at Amazon and Walmart.
What Other Factors Should be Considered?
Amazon and Walmart are similar, but they also have their main differences. Amazon is a customer-oriented ad; they say they do not sell products but help people buy them. On the other hand, Walmart also has in-store shopping; customers love ordering products online and picking them up from the nearest store. Both have an extensive base of customers, but their customers buy different products, so you should consider what to sell on each platform.
Customers
Walmart is not the first place customers seek when they want to buy something online. It is slowly changing because Walmart invests in fulfillment capacity, supply chain automation, and newer technology. According to statistics, Amazon has 2.45 billion monthly visits, while Walmart has “only” 410 million monthly visits. Amazon has 41% of the US e-commerce market, while Amazon is involved with 6,6%.
Marketplace Preferences
Walmart customers like the platform because they can buy good quality products at low prices, buy them online and pick them up at the nearest Walmart store. Also, most products purchased at Walmart are groceries, cleaning supplies, and over-the-counter medication.
On the other hand, Amazon customers love the platform because it offers an extensive product selection and different brands. It also offers fast shipping and free shipping benefits. The most wanted products are apparel, vitamins and supplements, and beauty and personal care items.
Pros and Cons
Walmart works in the US market, slowly expanding to other markets such as the UK, Canada, and China. It is only by invitation marketplace, which is not bad because there are fewer sellers than on Amazon. At the moment, the number of sellers that Walmart hosts are 118.000, which is a small number compared to 1.9 million sellers on Amazon.
As it is well known, Amazon does hold the lead in the market and has billions of visitors per month. The platform has a global presence and is well known for having a good reputation.
Getting approved on Walmart can take 2-4 weeks, and their seller account is free. On the other hand, becoming an Amazon seller can take about 24 hours, and you will pay either 0.99 per item sold or 39.99 monthly for a professional account. Both marketplaces have various fulfillment and storage fees and different paid programs that you should consider when calculating your expenses.
Bottom Line
If you think of becoming a seller on whatever platform you decide, you should consider all the above mentioned factors. However, becoming a seller is only a part of the work that you should do. You will need a marketing strategy and careful planning to become a successful seller. Also, you need a lot of patience and effort to get the business on the right track and make a profit from your online selling.
