Amazon is the most well-known online marketplace for sellers. But Amazon is in for some competition thanks to the emergence of Walmart Marketplace. Walmart Marketplace allows third-party sellers to list their items on Walmart's website. The selling process is identical to selling products on platforms such as Amazon or eBay.
Walmart Marketplace presents a great opportunity for sellers for many reasons. In fact, this selling platform has already proven to help businesses reach valuable leads and gain consistent sales. Walmart is already a well-known and trusted brand with a huge audience that isn't overly saturated. This creates the perfect opportunity for sellers to hop on board.
If you're a seller looking to expand your business, you will find that Walmart Marketplace is a great opportunity. Walmart offers less competition, enabling sellers to secure their position in their market. Additionally, the marketplace offers fewer regulations and policies. Also, you can expand your business in a market that's growing in popularity.
To help you make the best decision for your eCommerce business, we're going to share a few reasons why you should be selling your products on the Walmart Marketplace. But first, we're going to explain how the marketplace works.
Ultimately, selling your products on the marketplace is similar to that of other popular online marketplace platforms. In general, you make a listing and place it on the marketplace. Consumers who are looking for your particular product at Walmart will perform a search and find your product.
One important factor to keep in mind is that your listed products will appear alongside other products sold by Walmart and other marketplace sellers in search. This isn't necessarily a bad thing, but you will need to remember this when creating your listings as you are competing with them and their pricing structure. Be sure that each of your products in the marketplace is priced competitively for the best success.
Unlike Amazon, Walmart does not require an account subscription fee, which is an added bonus for many sellers. Instead, Walmart charges you a referral fee that ranges from 6 percent to 20 percent of your product's selling price, depending on the category. Here is a full list of referral fees provided by Walmart for sellers to view.
Walmart creates a seamless experience to help sellers get funds earned from their sales into their bank account. In fact, Walmart is transparent when it comes to how you will get paid.
With that said, Walmart pays sellers on a weekly basis. Your payment will include the total amount of your sales minus the referral fee. It's important to note that the pay period ends on Monday at midnight (PST). You can expect Walmart to send your payment no later than Wednesday noon.
Now that we've covered what the Walmart Marketplace is and how it works, we're going to provide you with a few reasons why you should be selling your products at Walmart.
Walmart is still growing as an online marketplace, but it's already packed with a lot of benefits and shows no signs of slowing its growth. If you're interested in selling your products at Walmart, there's no better time than now. Here are 7 reasons to become a seller at Walmart.
While you can always expect some competition, you can expect much less on Walmart compared to other online platforms. This is a clear benefit for sellers who are just getting started and want to connect with their customers and ultimately grow their eCommerce business.
But why exactly does Walmart Marketplace offer less competition for sellers? What makes Walmart different is that they are very exclusive in terms of what businesses they choose to partner with. In fact, the process of getting approved to sell on the marketplace can be a bit challenging compared to other platforms. Here are the requirements to get approved.
Remember, your products will be listed under Walmart. As such, it's going to be important that you meet their quality of standards. Walmart strives to provide a unique experience, quality products, and overall great customers. This means that your eCommerce business will need to be able to deliver in order to get approved as a seller.
Another advantage of selling at Walmart is the fact that sellers won't have any monthly fees. You will instead pay a referral fee that is paid upon a product sale. Many other online selling platforms require a monthly fee to keep your products listed. Unfortunately, these fees can be relatively costly.
For eCommerce businesses that are just starting out and getting little to no sales, paying a monthly listing fee might be challenging. Sellers who list their products on Walmart Marketplace will appreciate this omission of the monthly fees. This is especially an added bonus for eCommerce businesses that aren't producing enough revenue yet.
Attracting the right customers and growing your eCommerce business can be difficult. Sellers aren't just making a quality product, they must think about advertising, connecting with the right customers, and maintaining a competitive advantage.
Selling with Walmart Marketplace certainly places eCommerce businesses in the right direction. Thanks to Walmart's massive market, sellers can seamlessly gain brand exposure and earn more quality leads.
In fact, in September 2020, Walmart.com had 385.5 million visits, up from 294.5 million visits in 2020. What's even better is that anyone can shop at Walmart to take advantage of their features, such as two-day shipping.
Another reason for sellers to use Walmart as their online selling platform is the fact that Walmart is a highly trusted brand. As such, it will be easier to get consumers to invest in your product if it's backed by Walmart.
Ultimately, Walmart has already done the hard work of building an exceptional customer service experience, handling customers' questions and concerns, and delivering upon their promises.
This is a great benefit for sellers who are just starting out and need to build relationships with customers and essentially make a name for themselves online.
Who doesn't want to earn more conversions? Conversions are a top priority for most eCommerce businesses. Thankfully, Walmart Marketplace makes earning conversions easier than ever with their Buy Box.
Walmart already has various leads who are interested in the products you're selling. But the Buy Box takes things to a whole new level and is arguably the greatest benefit of selling your products at Walmart.
The Buy Box is similar to that of Amazon. It ultimately provides a quick and easy way for customers to purchase your products as opposed to your competition's. This can really aid in sellers seeing an increase in their revenue consistently.
For now, Walmart's Buy Box is reserved for businesses that offer the lowest prices for their products. If you're interested in a box for your eCommerce business, consider whether you can afford to lower your prices if you haven't already. With that said, sellers can expect that Walmart will innovate new ways for sellers to earn a Buy Box for their business with time.
Providing the best experience for your customers is important for any eCommerce business, and this is something that Walmart considers in its marketplace. For sellers looking for a more seamless checkout experience, you'll be happy to know that Walmart has an efficient buying system that makes purchasing products easier.
Not only do they make checkout quick by simplifying the process, but their checkout system is also secure. In fact, all of Walmart's transactions are encrypted, which adds to customers' sense of security.
No eCommerce business can be successful without tracking performance. Analytics gives sellers an opportunity to see what's working, what's not working, and what they ultimately need to improve on for better success.
The good news is that Walmart offers intuitive analytic tools that help you monitor the performance of each of your products. Sellers can monitor individual product performance as well as gain valuable insights that show them how their leads interact with their product.
This data can be used to continuously improve your eCommerce business and help you improve products, attract more leads, and build a sustainable eCommerce brand.
Are you ready to start selling your products on Walmart Marketplace? Let ROI Swift help support you in your needs. We are your team of digital marketing experts and we help emerging brands grow their business profitably.
Walmart is an excellent platform for eCommerce businesses to list their products and grow their customer base. Our team can help you navigate the marketplace and maximize your online marketing efforts. We're passionate about providing businesses with the right tools to reach the level of success they deserve. Are you ready to move forward? Let's talk.