Selling On Walmart Marketplace: A Comprehensive Guide For Sellers
Are you looking to grow your business to Walmart Marketplace? With increasing shoppers turning towards online shopping, businesses need to stay up-to-date with the latest eCommerce trends. This article provides a comprehensive guide on selling on Walmart Marketplace - from understanding the basics of setting up a Walmart account management to learning how to optimize your listings and maximize sales. To learn everything you need, continue reading about selling on Walmart Marketplace!
What is Walmart's marketplace?
Walmart Marketplace is an online marketplace that enables third-party sellers to sell products. Also, the platform offers an efficient way for sellers to reach Walmart's customer base.
Sellers on Walmart Marketplace enjoy more publicity and the backing of a reputable and well-known brand. But, some challenges come with selling on the platform, such as competition from other sellers and strict requirements for product listing.
Benefits of selling on the Walmart marketplace
As a Walmart Marketplace seller, you'll enjoy several benefits, including:
- Access to Walmart.com's huge customer base:
Over 275 million customers visit Walmart.com every month, giving you a large pool of potential product buyers.
- No upfront costs or monthly fees:
Unlike other marketplaces, Walmart doesn't charge any listing or monthly subscription fees. You'll only pay a commission on the items you sell.
- Easy to start:
Setting up a seller account on Walmart Marketplace is quick and easy, so you can start selling your products immediately.
Setting up your account and pricing strategy
Setting up your account on Walmart Marketplace is easy. Walmart account management helps you sign up for a free or premium account. You can list up to 50 items for sale with a free account. With a premium account, there are no limits on the number of things you can list.
When pricing your products, you'll need to do some research to find out what other sellers are charging for similar items. You'll also need to consider the fees associated with selling on Walmart Marketplace. There is a monthly fee of $39.95 and a per-transaction fee of 3%.
Listing products on Walmart's marketplace
When listing products on Walmart Marketplace, there are a few things sellers need to keep in mind:
- All products must be listed with accurate and up-to-date information. This includes things like product titles, descriptions, images, and prices.
- Sellers need to ensure their product listings are suitable for search so shoppers can find them.
- Keeping an eye on the competition and adjusting the pricing is essential.
With these tips in mind, let's take a look at the process of listing products on Walmart Marketplace step-by-step:
- log in to your Seller Center account and select the 'Products' tab.
- Click on the 'Add A Product' button.
- Enter the required information for your product listing, including the title, description, images, and price. Be sure to double-check all of this information for accuracy!
- Once you've completed your listing, click 'Submit For Approval.'
- That's it! Your listing will now go through an approval process before it goes live on the site.
Shipment and fulfillment strategies for Walmart marketplace sellers
When selling on Walmart Marketplace, it's essential to have a fulfillment strategy to ensure that your orders are received. When making a decision, a few aspects to consider in a fulfillment strategy, such as whether you want to fulfill orders yourself or use a third-party provider, how you will store your products, and how you will ship your products.
If you're starting, you may want to fulfill orders to get a feel for the process and see what works best for your business. Then, as your business grows, consider using a third-party provider to fulfill orders so that you can focus on other aspects of your business. When choosing a third-party provider, research their shipping rates and policies to ensure they are a good fit for your business.
Once you've decided how to fulfill orders, you need to choose where to store your products. You can keep your products at home or in a small office space if you have a small inventory. However, as your list grows, you will likely need to rent space in a warehouse or storage facility. When choosing a storage option, make sure to consider the cost of renting space as well as the accessibility of your products.
Finally, choosing how you will ship your products would be best. If you are fulfilling orders yourself, you will need to select a shipping method that is reliable and cost-effective.
How to stand out on the web with your product Walmart marketplace
How do you make your product on Walmart Marketplace stand out in a sea of similarities? It's simple: offering a unique product that solves a specific problem for your customers.
When you're selling on Walmart Marketplace, it's important to remember that you're not just competing against other sellers of the same product – you're competing against all the other products on the site. That's why it's essential to offer a unique product that meets a specific need for your customers.
Consider what distinguishes your product from others and how it can solve your customers' problems. Is it handcrafted? Is it made from sustainable materials? Is it the only product of its kind on the market? Whatever it is, make sure you highlight those features in your listing so potential customers can see why your product is worth their purchase.
Analyzing performance on the Walmart marketplace
As a seller on Walmart Marketplace, you need to understand how you are performing to make necessary changes and improve your business.
You must read your performance reports to develop your business on Walmart Marketplace. However, Walmart account management gives everything to help you.
Your health should be the first item you consider Performance score. This score is based on several factors, including your Order Defect Rate (ODR), customer satisfaction rating, and more. An excellent Performance score is anything above 80%.
If your Performance score is below 80%, several actions can be taken to improve it. First, check your ODR to see if it is within the acceptable range of 0-2%. If it is higher than that, you will need to work on fulfilling orders without defects. You can also improve customer satisfaction ratings by ensuring buyers are happy with the products they receive.
Another critical metric to look at is your conversion rate. This tells you what percentage of buyers who visit your store make a buy. A reasonable conversion rate is around 2-3%. If yours is lower than that, work on optimizing your product pages so buyers can find what they want. You can also offer incentives like free shipping or discounts for more purchases.
Alternatives to selling on the Walmart marketplace
You can use Walmart marketplace advertising if you're not interested in selling on Walmart. Below are some popular alternatives to Walmart Marketplace:
Shopify: Shopify is a leading e-commerce platform with over 500,000 merchants worldwide. Shopify offers a customizable platform, an easy-to-use checkout process, and 24/7 support.
Etsy: Handmade and vintage goods can be found on Etsy. Etsy is popular among sellers of unique jewelry, art, and home decor.
Amazon: The world's biggest internet retailer is Amazon. Amazon has a vast selection of products and offers competitive prices. Amazon also has a convenient checkout process and gives Prime shipping.
Selling on Walmart Marketplace is a great way to increase your brand's reach and expand sales. With the help of Walmart account management, you can start growing your business. We hope this guide has helped you understand all the aspects of selling products at Walmart. So that you can make informed decisions when launching your store. Best of luck!