As the world transitions more and more toward an ecommerce focus, the role of in-person shopping is changing. Traditional brick-and-mortar shops might find it harder to attract customers, as more people opt for the convenience of online shopping. Selvfølgelig, there will always be a time and a place for in-person shopping. Sometimes people need a product right away, while other people simply prefer to touch or test out certain products when making a purchase.
Uanset, the shift toward ecommerce has prompted traditional retailers to pivot. Many have embraced the digital age and have now added online shopping platforms of their own. Perhaps the largest and most prominent example is Walmart and the Walmart Marketplace. Walmart, selvfølgelig, was long established as one of America’s largest retailers before the rise of online shopping. That remains the case today, med over 4700 locations in the U.S. alene. Rather than resisting the growing demand for online shopping, Walmart has embraced it with the introduction of its own digital shopping platform.
Walmart Marketplace is a digital ecommerce platform allowing businesses to sell their products through Walmart. Walmart Marketplace can be thought of as a high-profile, but less competitive alternative to Amazon. With Walmart Marketplace, companies can partner with Walmart to make their products available through Walmart’s massive online shopping database. Walmart Marketplace may also have a higher barrier for entry in some categories than other online platforms. We can cover that later.
For companies looking to join Walmart Marketplace, you will need to join Walmart Seller Central. Here is a breakdown of everything you should know about Walmart Seller Central.
How to Join Walmart Seller Central
Becoming a seller on Walmart’s online marketplace is relatively simple, as long as you have all the required documentation. As a trusted major retailer, Walmart does its due diligence to ensure that all sellers it partners with are legitimate. In order to get started, you will need to provide the following information:
- Business Tax ID or Business License Number.
- Supporting documents to every business name and address.
- Products with a UPC GS1 or GTIN Company Prefix Number.
Desuden, Walmart lists the following requirements:
- Company catalog that complies with Walmart’s own Politik for forbudte produkter.
- Fulfillment through Walmart Fulfillment Centers or another reputable B2C warehouse with returns.
- Documented history of ecommerce success.
This final point represents a higher barrier to entry than some other online marketplaces. But that relative exclusivity is part of what makes Walmart Marketplace valuable to its members. Walmart ensures that all of its sellers, and their products, meet their standards. Users trust that the items they purchase through Walmart Marketplace will be of good quality and delivered on time.
For more information about the Walmart Marketplace requirements, read Ecwid’s guide on how to get approved on Walmart Marketplace.
Once you have all the required documentation, joining Walmart Seller Central is easy. Simply click the “Join Marketplace” button at the top of the Walmart Marketplace webpage, and follow the prompts. Derefter, you’ll simply wait for approval. Walmart usually approves valid new sellers within 2 til 4 uger. Efter det, you can start using Walmart Seller Central to sell your products.
How Does Payment Work Through Walmart Seller Central?
Once you have been approved as a Walmart seller, you can set up payment information on your account. Walmart pays its vendors on a bi-weekly basis. Every two weeks, Walmart will deposit money into your provided account based on the number of sales your company had in that period.
Walmart Marketplace does not charge any listing fees when you sell your products on its website. I stedet, they take a small referral fee from all of your sales. This referral fee varies depending on the category your product falls under.
Using Walmart Marketplace: Best Practices for Walmart Seller Central
Once your products are listed on Walmart Marketplace, you have access to the company’s incredibly vast consumer base. That alone is enough of a benefit for most sellers. Imidlertid, you can optimize your presence in the Marketplace with a few best practices.
Pay attention to competitors’ pricing
Competitive pricing is one of the keys to success in any marketplace. Keep a close eye on how your direct competitors in the Walmart Marketplace are pricing their items. Your prices should be in the same range as theirs. This does not necessarily mean you should be the cheapest option. Many shoppers disregard the lowest price option as being of lesser quality. But you always want your product to have an appealing price relative to its competition.
One effective way to maintain an advantage in pricing is to keep shipping costs as low as possible.
Keep inventory high
The worst thing you can do as a seller is fail to fulfill customer orders. Joining Walmart Seller Central is a great way to gain exposure for small vendors. Just make sure you are prepared for the potential increased demand.
Customer service is key
With a larger platform comes increased demand and increased customer interaction. One of the most crucial areas of focus, when you join Walmart Seller Central, burde være your customer service. Walmart reviews all of its sellers and will actually remove companies that have poor customer service ratings.
Excellent customer service can also be a good way to earn favorable customer reviews (along with high-quality products). Highly-rated items gain more visibility and are more likely to win against their competition.
Optimer produktfortegnelser
Først og fremmest, make sure all of your products are categorized properly. This is the easiest way to attract potential customers to your listings. But there is more you can do to make an effective sales pitch through your product listing.
Keep item names and descriptions short and simple. Explain what the product i and what it does, and use keywords and key features of the item. You should have an understanding of who might be searching for your product, and what service it provides.
Your product images should be high-resolution, close-up images of the product against a neutral background. You want to show the product itself as clearly as possible with no visual distractions. Read more about optimizing product images.
Sponsor your products
Walmart sellers can create ads for their products on the marketplace, and advertise them directly to their customers. This allows for some highly effective targeted marketing opportunities. And because the shoppers are already engaged and looking to make a purchase, the conversion rates are extremely high.
Benefits of Walmart Seller Central
No listing or membership fees
Som sagt, Walmart Marketplace does not charge listing fees or monthly subscription fees. The only fee Walmart charges is a commission fee based on the number of sales you complete. This means you will always make money when using Walmart Marketplace.
Tremendous exposure
When you are a member of Walmart Seller Central, your products have a spot on the shelves of one of the world’s largest retailers. This type of exposure is excellent, især for små virksomheder. You can increase sales simply by increasing the visibility of your products, with minimal work and at no cost.
Less competitive than Amazon
While Walmart Marketplace is a massive digital marketplace, it remains less competitive than Amazon. På Amazon, your product would likely need to compete against other vendors in your category. But Walmart Seller Central is more exclusive than Amazon, meaning you get a larger share of the market.
Walmart Seller Central vs. Amazon
Walmart Marketplace and Amazon are competitors against one another. But as a seller, you do not actually need to choose. There is no reason you can’t sell your products on both platforms. Faktisk, most companies that sell on Walmart also sell on Amazon. It simply makes sense if your goal is to reach the widest possible audience.
If you are looking to choose one over the other, you can’t go wrong either way. Walmart Marketplace is more affordable, with no listing fees. It is also slightly smaller, meaning less competition among sellers. But Amazon has a wider user base as an online shopping platform, which can lead to a higher volume of sales.
No matter where you wish to sell your products, Ecwid’s ecommerce management software makes selling online accessible for everyone. With the growing importance of ecommerce today, every company should have all the resources to build a great online store.
