In 2009, Walmart.com expanded its business and became one of the fast-growing online marketplaces. Suppose you have products for online selling, Walmart. Com is one of the options you should consider.
Walmart Inc. is an international retail corporation that operates a chain of hypermarkets worldwide. Still, in 2009, they extended their business as an online marketplace growing too fast, and many Amazon sellers decided to expand their business at Walmart.com.
Thousands of sellers and a dozen categories, from fashion to electronics and home supplies, helped grow the business, and sellers consider it one of the best marketplaces and effective sales channels where you can sell your products.
If you consider expanding and moving your business to the Walmart marketplace and online shopping becomes more popular for millions of Americans, Walmart has changed its inception. To start your business here, you should inform yourself about its basic information.
Walmart Marketplace – Benefits of Selling
If you are a Walmart member, you must know what you can get from selling your products.
Your Products will Reach More Customers
Walmart is a worldwide recognized brand, and it has endless categories. According to the statistics, Walmart has more than 120 million unique visitors per month, making it appealing to many sellers.
One of the main benefits of selling on Walmart is that your products will be presented to a well-established audience, and you will become part of the new customer base on the site and the mobile application.
Also, the Walmart marketplace is a curated community of sellers. To get approved and become a seller, you should offer high-quality products and provide top customer service. But it is worth mentioning that with less competition, your listings will be more visible, and you will be part of a great company alongside other professional sellers.
You will Pay for What You Sell Only
Walmart is well known for its low prices. But it’s also known for low prices for sellers. Walmart marketplace uses a simple pricing structure, and the only cost is a referral fee on each completed purchase.
The referral fees vary by category, but it is about 15% for many categories, including beauty products, apparel, and home and garden products. Some categories, including electronics and cameras, have a lower referral fee of 8%.
Walmart Marketplace is an online platform that incorporates the most innovative e-commerce solutions. As part of the Walmart Marketplace, you will get access to the top eCommerce solutions like:
- Listing quality tools
- Advertising options
- Expedited Shipping programs, etc.
All these tools can boost your conversions and make you sell more products, even up to 50%. You can also see detailed performance analytics to power your business decisions and define the right course for selling.
How to Start Selling on Walmart Marketplace?
The application process should take about 10-15 minutes if you have all the requested information available, including:
- US Business Tax ID (SSN not accepted)
- W9 or W8 and EIN Verification Letter from the Department of Treasury that verifies your US business address or place of physical operations
- Planned integration method for your product catalog (bulk upload, API, solution provider)
- Primary product categories, catalog size, and related information (e.g., total SKUs you will be selling on Walmart.com initially with verified UPC information, used vs. refurbished, etc.)
- The catalog cannot include any products from Walmart’s Prohibited Products Policy.
- History of marketplace or e-commerce success
Providing all this information will save you some time later on. If you don’t provide all this information on time, it will delay the review process, and you will lose some time going back and forth filling the gaps.
Once approved, you will receive a link to the email to register your business. The entire process of registration requires six steps:
- Account creation
- Walmart Retailer Agreement
- Company registration
- Tax forms
- Payment info
- Shipping info
Afterward, you are ready to begin your venture in the Walmart Marketplace.
The main question here is: Is it worth it? We tried to inform you about the pros of becoming a seller at the Walmart marketplace.
Every seller’s experience is different, and it is up to you to decide whether it will be worth it. However, if you already have a successful business on some other online marketplace, like Amazon, maybe it is time to expand your business and grow your profit on Walmart.
As we know, Walmart is well known worldwide, and with an established customer base, you will be visible to many customers. Walmart fees for sellers are not very big, so this is another chance for you to be successful.
However, you should make your selling strategy and do extensive research before making your final decision. As for every business, it will take a lot of time and effort to become a successful Walmart seller.