This is a detailed guide for those sellers who want to start to sell on Walmart marketplace. As one of the fastest-growing online stores, Walmart has become a major player in the e-commerce arena. In terms of US market share, it is second to only Amazon, providing merchants with a platform to get their products in front of a large audience (120 million monthly visitors, to be exact).
Walmart looks like a powerful sales channel for scaling up your business and increasing your brand awareness. But is it really worth selling on Walmart? How different it is from similar online stores, and how to kickstart your sales there? Keep reading this guide to find out.
Benefits of selling on Walmart
Apart from a massive customer base, Walmart offers plenty of merchant-focused perks. Here is what you can benefit from by taking your business onboard with Walmart:
Less intense competition
Walmart isn’t overcrowded with random sellers due to the selective approval process. Only established businesses with unique products can secure a spot in the marketplace. For Walmart merchants, fewer competitors mean more attention to the listings and increased profit. For buyers, this encourages more confidence in the quality of products and services.
Cheaper and transparent fees
Business expenses may be pretty high when you are selling on major e-commerce platforms, but it isn’t the case with Walmart. The marketplace charges zero monthly or setup fees. Sellers only have to pay a referral fee on each fulfilled order, which varies from 6% to 20% depending on the item category.
Innovative seller toolset
By joining a reputable marketplace like Walmart, you gain access to the most up-to-date e-commerce features meant to help your business thrive. Smart listing analysis tools, advertising opportunities, refined returns program, fulfillment services – all this covers the majority of merchants’ needs and makes the online-selling process more productive.
First steps on how to start to sell on Walmart
Now that you have a general idea of the Walmart marketplace and its distinctive qualities, it is time to learn how to start selling there. We will walk you through this journey and give key insights on how to tackle each step in the right way.
Step 1. Submit your application.
Applying to sell on Walmart is easy, but the acceptance process is on the trickier side. Begin with filling out the application form, where you need to indicate detailed information about your business and products.
As mentioned before, Walmart has stricter seller selection standards compared to other marketplaces, accepting only accomplished e-commerce merchants. The platform will request the following information:
- US business tax ID and business address
- W9 or W8 tax ID form
- EIN verification letter
- Plan for the integration of your product catalog
- Full product data
International merchants can apply if they provide a foreign entity tax ID, required tax classifications, and a foreign entity business address.
Take your time to include as many details on your brand and items as possible, specify your catalog size, categories, and an entire list of SKUs. Links to the eBay/Amazon/Shopify store, a website with buyer reviews, and social media pages make a difference as well. Walmart uses this information to verify whether you can deliver excellent customer service, competitive pricing, and add real value to the platform with your brand.
Step 2. Set up your merchant account.
If Walmart deems you a fitting partner for their seller community, you will receive a corresponding email within two weeks. Follow the link given in the email to complete the registration process. Provide basic business-related information, sign a retailer agreement, upload your product inventory, specify payment and shipping details. This may take a while but will get you all set for the further steps of onboarding as a Walmart merchant.
There are numerous ways to handle your business and list your entire inventory on Walmart. Some prefer manual management, others rely on the power of automation from solution providers like M2E Pro. The application connects your inventory from Magento and Walmart stores and takes care of order synchronization and real-time price and quantity updates.
If you want help to integrate Shopify with Walmart, M2E Cloud is at your service. It is a go-to solution to automate your essential business processes like stock handling and order fulfillment across several platforms at once.
Step 3. Test and launch your products.
Before your items go live and become available for purchase, test the shopping experience for buyers to eliminate potential errors. There is a separate section in the Seller Center where you can perform tests of the entire order workflow – from order placement and acknowledgement to cancellation, fulfillment, and refund.
As soon as the testing is over, your products will get published on Walmart within one or two days. Therefore, you should check your items thoroughly, supply complete product information from the beginning, and avoid any mentions of tests in your product titles.
Step 4. Optimize your catalog and performance.
Getting your items listed on Walmart is only half the work. Now you’ll need to increase their visibility by engaging with the shoppers and their preferences. Here are our top tips to ensure the success of your Walmart e-commerce strategy:
- Focus on product details. A concise yet informative product page is the first step to catching the eye of the buyer. Use easy-to-read titles, simple keywords, and highlight all specific attributes in the description. High-quality pictures and videos also affect search rankings and drive more traffic to listings.
- Monitor your listing performance. You don’t have to guess or estimate how efficient your listings are – Listing Quality Score will tell you everything. Found in your Seller Center, it evaluates your items by crucial parameters and suggests precise tips on how to enhance their quality.
- Take advantage of the expedited shipping program. Fast and reliable fulfillment plays a role in attracting buyers and keeping your seller viability in check. If you aren’t sure whether you can achieve quick and timely deliveries, consider enrolling in the Walmart Fulfillment Services program with guaranteed free two-day shipping to improve the experience for your shoppers.
- Keep your eye on the Buy Box prize. Since there is less competition, you have a good chance of winning the Walmart Buy Box (top position among similar offers for one product) and getting noticed by a larger audience. To make it into the Buy Box, offer favorable prices, ensure that your products never go out of stock, and maintain excellent performance metrics and superb product reviews.
Summary
A demanding yet profitable platform like Walmart is a proven way to drive extra sales volume, especially since it is developed with merchant success in mind. Walmart will be a good fit for those who have an established reputation on their own websites or well-known online stores and willing to extend to another sales channel.
However, if you are new to the online-selling game, set aside the idea of listing on Walmart, at least for the time being. Without a prior e-commerce background, your application will be rejected, making it harder to get accepted later on. Your best bet here is to build up experience on beginner-friendly marketplaces like eBay or Amazon and then make your way to Walmart.
