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The way we shop has changed over the years with many businesses setting up their stores online.
Walmart is an established retail giant with many brick-and-mortar stores worldwide. However, in 2009, Walmart set up its online marketplace where third-party sellers can list and sell their products.
Just like Amazon, eBay, and Esty, the Walmart marketplace has grown to be one of the most prominent online marketplaces in the world.
Selling on the Walmart Marketplace can open up your business to new opportunities. However, getting approved requires careful consideration of various requirements.
Read on as we take you through all you need to know to help you get approved to sell on the Walmart marketplace.
The Walmart marketplace is an online platform allowing third-party sellers to list and sell their products to customers.
Since its inception in 2009, the Walmart marketplace has grown to be one of the fastest-growing marketplaces in the world.
Selling on the platform opens you up to numerous benefits. From a massive customer base of over 100 million unique visitors every month to an efficient fulfillment network, competitive pricing, and low setup costs.
If you’re thinking of selling on the Walmart marketplace, it is important to take note of the following criteria:
So now you know what it takes to sell on the Walmart marketplace, how do you get approved? Well, first, you will need to have the following to apply on the Walmart marketplace:
If you meet the criteria and you have all the documents ready, you can start the application process. Here's a simple step-by-step guide for applying to sell on the Walmart marketplace:
For your Business Verification, Submit your business details and complete your Seller Profile. Ensure your tax information is accurate to help with verification. Once done, submit for review. Once approved, you will see “Your business is verified”.
For your Payment Information, indicate where Walmart should send your payments. Walmart offers three payment providers: Payoneer, Hyperwallet, and PingPong. Once you choose a payment company, you will be redirected to create an account with the provider.
Lastly, for your Shipping, fill in the three sections: Shipping Templates, Return Labels, and A Return Center, and click Submit.
Getting approved to sell on the Walmart Marketplace can take anywhere from 24 hours to four weeks. However, during this time, you may receive requests for additional information from Walmart. Once all necessary information has been provided and reviewed, you will receive confirmation of approval.
To ensure that the application and approval process is faster, focus on the following factors:
You also want to ensure your prices are competitive without compromising on the quality of your product and services.
Selling on the Walmart marketplace comes with several unique benefits:
Walmart has built a robust infrastructure over the years. By becoming a seller on Walmart Marketplace, you gain access to its advanced features such as free two-day shipping, advanced listings, analytics tools, and easy and secure transactions.
Being a part of Walmart Marketplace allows you to leverage Walmart's brand value, increasing the authority of your brand. There is less competition compared to other platforms like Amazon and more consumer trust in your brand and products.
Unlike other platforms that charge monthly fees, Walmart Marketplace only charges a referral fee when you sell your product. This fee ranges from 6% to 15%, depending on your product category.
Due to Walmart's dominance as a brick-and-mortar leader, it commands impressive brand recognition on its online marketplace. This gives you access to a large customer base that's already buying on the platform.
Walmart Marketplace offers a variety of innovative solutions like Walmart Marketplace Ads, Walmart Brand Control, Walmart Fulfillment Services (WFS), and other services to simplify your selling process. This allows you to reach more shoppers and increase sales.
Here are some tips to help you improve your selling experience on the Walmart marketplace:
Your product listings are your virtual storefront on the Walmart Marketplace. To capture the attention of potential buyers, ensure your listings are optimized with clear, detailed, and accurate information. Use high-quality images that showcase your products from various angles, and include relevant keywords in your titles and descriptions to improve search visibility.
Research competitor pricing and set your prices competitively. It is essential to strike a balance between competitiveness and profitability. Consider the fees associated with selling on Walmart, including referral fees and fulfillment costs, to ensure that your pricing strategy is sustainable in the long run.
Walmart Fulfillment Services can streamline your order processing and enhance customer satisfaction. By utilizing Walmart's fulfillment network, you can benefit from faster shipping times and efficient order handling. This can contribute significantly to positive customer experiences and lead to repeat purchases.
Providing top-notch customer service is crucial on any online marketplace, and Walmart is no exception. Ensure that you prioritize great customer service by promptly responding to customer inquiries and concerns. Be transparent about shipping times, return policies, and any other relevant details. Positive customer reviews not only build trust but also improve your visibility on the platform.
Stockouts can result in missed opportunities, while excess inventory leads to excess costs. Utilize inventory management tools to monitor stock levels and ensure you have enough inventory to meet demand. With a proactive approach, you avoid both stockouts and overstock situations.
Regularly check your seller dashboard for key performance metrics. Metrics such as order defect rates, late shipments, and customer satisfaction scores can impact your seller rating. Address any issues promptly to maintain a positive reputation on the platform.
Familiarize yourself with Walmart's policies and guidelines to ensure compliance. Violating these policies can lead to penalties or even account suspension. Stay informed about any policy updates and make the necessary adjustments to remain in good standing with Walmart.
Getting approved to sell on the Walmart Marketplace requires careful planning and attention to detail. By understanding Walmart's requirements, having the right documents, optimizing your listings, and demonstrating a commitment to customer satisfaction, you can increase your chances of approval on the Walmart marketplace.
You’ve probably already considered selling on Amazon but its way easier than you think.
Call Us Now