Last 2020, the COVID-19 pandemic forced many businesses to close. However, there was one sector that saw tremendous revenue: eCommerce.
US online retailers reported a revenue of US$ 861 billion, a 44% increase from the previous year. Even before the pandemic forced physical restrictions on people, experts were already predicting that eCommerce was the future of retail. This means that for businesses to succeed, they need to take advantage of eCommerce sites to reach a wider audience and boost sales.
There are many eCommerce sites for you to choose from, but today, let’s focus on Walmart Marketplace.
Walmart Marketplace allows merchants to sell their items on Walmart’s website, Walmart.com. The process is similar to other eCommerce sites like Amazon and eBay, where sellers search for items they’re interested in buying and find listings from third-party sellers. Walmart.com boasts 100 million unique visitors every month, so this is a great way for small businesses to get started with online selling.
Note that Walmart deducts a fee from each sale, but the amount varies between 6-15% depending on the product.
Selling on Walmart Marketplace
Becoming a Walmart Marketplace seller is a simple process. Here are 4 easy steps for selling on Walmart Marketplace.
1. Apply to be a Walmart Marketplace seller
Walmart’s website has a “Request to Sell” page containing the application form and detailed instructions for those interested to join the platform. Once you’re approved, you’ll be asked to acknowledge the Walmart Marketplace Retailer Agreement. Read this thoroughly, as any violations could result in the termination of your partnership with Walmart.
Walmart has stringent criteria for businesses who want to partner with them. It’s unlikely that they’ll accept a recently opened business or one with too little sales. This is also to protect their brand. Don’t be discouraged if you get rejected the first time you try to apply.
2. Register your account
Once you’re approved, you’ll receive an invitation to sign up. Here, you’ll set up an account. You’ll need to input necessary information such as bank details, taxes, and shipping address. Walmart will also verify your bank information before your account can go live.
3. Post your products
The moment your account goes live, you can start posting products. Walmart allows for a wide range of products but note that you’re not allowed to post any prohibited or restricted products.
When listing your products, there are many things you need to consider:
- Category/Subcategory. When listing your product, you’ll be asked to assign a category and subcategory to assist users in finding your product. Ensure you use the appropriate classification so you can reach your intended customer.
- Price. There are many other retailers on Walmart Marketplace, and some of them may be selling items similar to yours. You’ll need to research how you can best price your items to stay competitive.
- Product photos/videos. Walmart Marketplace allows sellers to include photos and videos of the product to help give users a clearer idea of what you’re trying to sell. Ensure you include high-resolution and professional photographs to entice shoppers into buying.
- Product description. Your product description is the chance to explain to the user why they should buy your product. Talk about what makes it unique, and why users should buy from you instead of your competitor. This is also when you add other details like specs, size measurements, ingredients, etc. Use formatting styles like bullet points, tables, and headings to improve readability.
4. Fulfill paid orders
Once a customer pays for their order, you need to pack their item and ship it out. Double-check the order so you don’t accidentally send the wrong item out to a customer. The packaging must be non-branded and can’t include logos from any company other than Walmart, meaning you can’t use old Amazon boxes to ship out orders.
Alternatively, Walmart offers a program where sellers can store their inventory in Walmart fulfillment centers. You first have to apply to get into the program, but it’s more convenient as you don’t have to worry about procuring shipping materials or shipping things out yourself.
Walmart Marketplace offers great benefits to sellers, from a wide consumer base and reasonable fees to convenient payment methods and reliable seller support. It’s easy to see why many sellers prefer this platform over others. Nowadays, many buyers prefer online shopping because of its convenience and safety, and as a business owner, you need to address consumers’ needs accordingly. Don’t let yourself fall behind and sign up to an eCommerce site now.