Expanding your business by selling on Walmart Marketplace can be a game-changer. As one of the world’s largest and most trusted retailers, Walmart offers sellers the chance to reach millions of customers. Whether you’re a small business owner looking to scale or an established seller seeking new opportunities, Walmart’s online platform can provide the exposure and credibility needed to grow your brand. This guide will walk you through the steps to start selling on Walmart, from registration to optimizing your listings and boosting your sales.
Why Sell on Walmart Marketplace?
Walmart Marketplace is an attractive option for sellers for several reasons:
- Massive Customer Base: With over 100 million unique monthly visitors, Walmart.com is a prime platform for reaching a large, diverse audience.
- Lower Fees: Walmart’s referral fees are generally lower compared to other marketplaces like Amazon, meaning higher profit margins for your business.
- No Monthly Subscription Fees: Unlike some platforms, Walmart does not charge sellers a monthly subscription fee, making it more cost-effective to start and maintain your business.
- Enhanced Visibility: Being listed on Walmart can boost your brand’s credibility and visibility, thanks to Walmart’s trusted reputation.
Step 1: Check Eligibility and Apply
Before you can start selling, you need to ensure your business meets Walmart’s requirements. The platform is selective, focusing on quality and customer satisfaction.
Eligibility Requirements:
- U.S. Business: You must have a registered business in the United States with a valid Tax ID (EIN).
- Product Compliance: Your products must comply with all legal standards and Walmart’s policies.
- Strong Performance History: Walmart prefers experienced sellers with a history of good customer service and fulfillment practices.
How to Apply:
- Visit Walmart Marketplace: Go to the Walmart Marketplace and click on “Request to Sell.”
- Fill Out the Application: Provide information about your business, including your company name, tax ID, product categories, and e-commerce experience.
- Submit Required Documents: Upload necessary documents such as your W-9 form, business license, and tax information.
- Wait for Approval: Walmart will review your application and notify you if you are approved. This process can take a few weeks, depending on application volume.
Step 2: Set Up Your Seller Account
Once your application is approved, you will receive an email invitation to set up your seller account.
- Create Your Account: Use the link provided in the approval email to create your Walmart Seller Center account.
- Complete Your Profile: Enter your business details, including legal name, address, and tax information.
- Set Up Payment Information: Add your bank account details to receive payments from Walmart. Payments are made every two weeks.
- Configure Shipping & Returns: Define your shipping methods, handling times, and return policies according to Walmart’s standards. Offering competitive shipping options can enhance your appeal to customers.
Step 3: List Your Products
Now that your account is set up, you can start listing your products on Walmart Marketplace.
- Choose a Listing Method: You can list products manually, use bulk uploads with a CSV file, or integrate your existing e-commerce store using an API.
- Create Detailed Listings: Provide accurate product information, including titles, descriptions, images, and prices. Make sure your descriptions are informative and use high-quality images to showcase your products.
- Optimize Your Listings: Use relevant keywords in your product titles and descriptions to improve search visibility. Include product attributes such as size, color, and features to help customers make informed decisions.
- Set Competitive Prices: Walmart’s algorithm favors competitively priced products. Research your competitors and set prices that attract customers while maintaining profitability.
Step 4: Manage Orders and Fulfillment
Effective order management and fulfillment are crucial to maintaining high seller ratings and avoiding penalties.
- Monitor Orders Daily: Check your Seller Center dashboard regularly for new orders and updates.
- Fulfill Orders Promptly: Walmart expects sellers to ship orders within specified timeframes. Use reliable carriers and provide tracking information for each order to ensure transparency and customer satisfaction.
- Handle Returns Professionally: Process returns according to Walmart’s return policy. Responding to customer queries and resolving issues quickly can help maintain positive ratings and reduce negative feedback.
Step 5: Promote Your Products
Promoting your products on Walmart can help increase visibility and drive more sales. Here are some strategies to consider:
- Walmart Sponsored Products: Use Walmart’s advertising platform to place your products in prominent positions in search results and product pages. This pay-per-click model allows you to target specific keywords and categories.
- Offer Free Shipping: Free shipping is a major incentive for online shoppers. Consider incorporating the cost of shipping into your product prices or offering free shipping on orders above a certain amount.
- Join Walmart Fulfillment Services (WFS): Using Walmart’s fulfillment network can improve your product delivery times and eligibility for 2-Day Shipping, making your listings more attractive to customers.
Step 6: Monitor Performance and Optimize
Regularly monitoring your performance metrics is essential to identify areas for improvement and optimize your sales strategy.
- Analyze Sales Data: Use Walmart’s analytics tools to track sales performance, customer behavior, and conversion rates. Identify top-performing products and focus on optimizing these listings.
- Customer Feedback: Monitor customer reviews and ratings. Address any negative feedback promptly to maintain a high seller rating and build customer trust.
- Adjust Pricing and Inventory: Keep an eye on your competitors’ prices and adjust your pricing strategy as needed. Ensure your inventory levels are sufficient to meet demand without overstocking.
Step 7: Scale Your Business
Once you’ve established your presence on Walmart Marketplace, focus on scaling your business by expanding your product line and exploring additional promotional opportunities.
- Expand Your Product Range: Introduce new products based on customer demand and market trends. Diversifying your product range can help attract more customers and increase sales.
- Leverage Seasonal Promotions: Take advantage of seasonal events and holidays to offer special promotions and discounts. This can help boost sales during peak shopping periods.
- Optimize for Walmart’s Buy Box: Just like Amazon, Walmart has a Buy Box feature. Focus on competitive pricing, excellent customer service, and fast shipping to win the Buy Box and increase your chances of conversion.
Tips for Success on Walmart Marketplace
- Maintain High-Quality Listings: Use clear, high-resolution images and detailed descriptions. Accurate product information reduces the risk of returns and negative reviews.
- Keep Inventory Updated: Regularly update your inventory levels to avoid running out of stock. Use inventory management software to sync your stock levels across all your sales channels.
- Respond Quickly to Customer Inquiries: Timely responses to customer questions can significantly impact your ratings and sales. Aim to respond to all inquiries within 24 hours.
Conclusion
Selling on Walmart Marketplace can be a powerful way to grow your business and reach new customers. By following the steps outlined in this guide, you can successfully set up your account, list your products, and start making sales. Remember, success on Walmart requires dedication, attention to detail, and a focus on customer satisfaction. With the right strategy and effort, you can build a thriving business on this leading e-commerce platform.