Since 1962, when Sam Walton launched his first shop in Rogers, Arkansas, Walmart stores have been in the brick-and-mortar format. The way we shop for and sell things has changed dramatically since then.
In 2009, almost 50 years since the first Walmart shop opened, the famous discount retailer opened up their digital site to allow third-party sellers to sell products similar to Walmart’s. They jumped into the online market and are sticking around with statistics that rival Amazon for the leading and buying spots on the web.
What Are the Benefits of Selling on Walmart.com?
For starters, there are no initial costs or monthly fees, there is a minor battle than in some markets, and there is the opportunity to gain publicity and consumer trust with a platform that allows for simple checkout. So, a better question is: What do you stand to lose?
Fees are low
There are no fortnightly or listing fees on Walmart Marketplace. You’ll only have to pay Walmart a 6 to 15% referral bonus when your item sells, aside from the cost of your inventory. Correlate this no-fee arrangement to Amazon’s $39.99 monthly FBA professional selling fee. That’s the price you’ll pay even if your item doesn’t sell. In addition, when a product sells, Amazon charges its referral bonus.
There is less competition
While you’ll never be completely free of competition, Walmart merchants find that they face less competition when compared to Amazon’s massive audience of millions of sellers. Walmart is quite selective about the companies they allow to sell on their site, which explains the low level of competition. While the approval procedure may take more time than on other marketplace trading platforms, most sellers abandon their accounts before they ever begin.
According to statistics, Amazon has around 493,000 active US sellers as of 2020. On the other hand, Walmart examined and admitted just roughly 50,000 people who were approved to sell. These figures show that, while Amazon is quicker to get on onboard and ready to sell, once approved, Walmart has far less competition for sales.
As Walmart continues to promote itself as a go-to online shopping option, merchants who have already found Walmart Marketplace may expect to experience a significant rise in sales.
Possibility of gaining exposure
Walmart merchants benefit from publicity across the board because they are meticulously scrutinized to choose only the best of the best for their marketplace. Regardless of the brand you sell or represent; you will be noticed. Even though Amazon is the largest platform, selling on Walmart.com will allow you to reach a market that you may not have been able to get on Amazon.
Many Walmart.com customers do not have Amazon Prime. The majority of people choose not to pay the ever-increasing Prime membership fee. They find a great contrast on Walmart.com as a marketplace where they may receive speedy shipment without paying expensive fees. True, Walmart gets approximately half of the monthly visitors that Amazon gets.
The actual bottom-line figure, though, is how many of those visitors purchase things. Because Walmart attracts customers that Amazon does not, they are more likely to see your products on Walmart.com than what you have put on Amazon.
Increase Customer Satisfaction
You adopt Walmart’s reputation as soon as your item goes live on the Walmart Marketplace. As they browse product listings, customers embrace you with their well-known good name.
Because you’re selling on Walmart.com, buyers assume you must meet their high expectations as well. You acquire respect as a merchant just by being associated with the Walmart name. You develop a reputation among customers. When buyers know they can trust what you offer, they are more likely to visit your other marketing platforms.
Checkout is simple
Walmart’s checkout process is quick, simple, and secure because it is an established eCommerce site. It’s encrypted, so buyers don’t have to worry about who they just gave access to their money.
How to Get Started With Walmart’s Marketplace
Walmart only wants to allow the best of the best to use its website. Getting approved to sell on Walmart Marketplace will be more complicated than getting authorized to sell on Amazon.
When it’s all said and done, and you’re raking in cash, this initial screening is well worth it. It would help if you met the following criteria to be approved as a Walmart Marketplace seller:
●Demonstrate that you value and strive for good customer service.
●Provide a one-of-a-kind product selection
●Provide cost-effective pricing
●Complete orders in a timely and accurate manner.
They’ll look at your reviews, pricing, and defect rates on other selling sites to see if you meet Walmart.com seller standards. You’re in if you meet their requirements.
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