Walmart being a vast marketplace has emerged as one of the largest online shopping destinations all over the world. With over 312 million visit of customers, selling your products on the Walmart can directly lead you to higher sales. Although Walmart began accepting third party eCommerce sellers back in 2016, but still it’s a dream for many sellers to list their products on Walmart. So, if you are unaware of the procedure of selling products on Walmart, this guide will make you walk through each step starting from application till launch.
Getting a shelf at Walmart is a huge opportunity for your business. Just behind Amazon, Walmart has established itself as the second largest online retail destination in U.S.A.
So, now let’s start exploring each step one by one on how to sell your your products on this renowned marketplace. The steps are listed below:
Before applying for Walmart, it’s the prime requirement to decide what sort of business you want to do. Basically, Walmart provides you 5 platforms of business as follows:
1. National product supplier: If your product suits to broader audience, this might be a good choice as you will be able to sell your products all over the country both offline as well as online.
2. Local product supplier: They provide locally relevant products to a targeted area which fits well with Walmart’s “Store of the community” initiative.
3. Direct imports supplier: International companies can sell their products to Walmart U.S as a direct imports supplier.
4. Walmart.com Supplier: A local vendor can list his products on Walmart.com and sell products exclusively in online market.
5. Walmart Marketplace Supplier: Become a third party seller and list down your products under Walmart Marketplace category.
You can choose any of the above 5 platforms with Walmart. This actually categorises your business help you to apply for Walmart accordingly.
Sellers have to go through an online registration process providing your basic information and overview. Once you have shared the required information, be prepared to wait for 2-3 weeks for their response. You will receive an email invite to setup a Walmart seller account.
Once you have received the invite mail and created your account, upload all your relevant certificates including your bank account information to meet the minimum requirements to be a vendor. You can also be asked to share some more information about your company and products. This is done with the motive to increase the trust level of your business brand name.
All the information shared by vendor is visible to Walmart buyers so that they can review your business profile and contact you for partnership purposes. Once you are done with the process, you are finally ready to list your products on Walmart.
Walmart let the sellers to manually list the products in their Walmart’s product catalogue. It also lets you upload the products in bulk quantity via bulk upload or product feed option.
Sellers can create a CSV file upload by using an Excel or Google Sheet spreadsheet, following Walmart’s file upload guidelines. This mainly helps sellers to upload a small collection of products to the Walmart Marketplace. But, if sellers have to upload large collection, the other 2 methods would be a better choice.
If you know how to manage an API connection, You can connect Walmart’s marketplace to your eCommerce platform or inventory database for free via Walmart API. This method require some technical knowledge but is the best way for uploading products on Walmart Marketplace.
If you are already a store owner on eCommerce platform like PrestaShop, Magento, OpenCart and Shopify, and others, an integration partner can link your products in your existing catalogue directly to Walmart. It is one of the easiest way to list or can say import your products to the Walmart marketplace. However, this integration could be costly for you. The integration cost starts around $30/month and reach up to $500/month depending upon your product and sales volume.
Walmart even provides you the facility to set up and test your order management connection and other features. You are just required to send your products feed for testing either in bulk or under any specific products and categorisation.
Once you have sent the products for testing, seller needs to keep an eye on all order processings, shippings, exchanges, returns, and customer services. You need to keep a track on the order status as well.
After testing all the management functions check off from the seller setup list. Click Yes on the confirmation pop-up and you are ready to launch. The Walmart team will review all your account setup, products and settings and will finally make them live.
Congratulations! You are now an official Walmart Marketplace Seller.
In order to be an established marketplace seller, its important that your Walmart Marketplace orders should fall into your normal workflow and for that you have to always keep check on these points mentioned below:
- Keep check that product price is on target to win the Walmart buy box.
- Product description should be relevant, clean and error free.
- Ensure that all orders are updated and retrieved accordingly.
As buyer place the order on Walmart.com, it pays sellers after the goods are shipped. Walmart does not provide an in-house order shipping program, so sellers have to handle themselves the shipping process for the products. Unfortunately, sellers might face loss due to less efficiency and scalability. However, there are many shipping companies that can save your profits. Sellers can work with them in their initial phase of business without killing their profit margins.
Although selling on Walmart Marketplace could make you earn huge chunk of profits but Walmart also take advantage from the same. Walmart charges sellers a referral fee ranging from 6% to 20% of the product’s selling price, depending on the category. Walmart charges very less referral fee as compared to Amazon. So, being a seller on Walmart can make you a billionaire one day.
The Walmart marketplace is a huge and fast growing marketplace every day by day. There are numerous third-party sellers who want to register themselves as Walmart marketplace seller. With the growing competition, becoming a third party seller on Walmart is definitely not a cake walk. The seller’s market does not entertain the sellers who are not meeting up the parameters set by them. So, keep a check on the requirements and there’s a quite good chance that Walmart will accept you as a marketplace seller. Hopefully, you will witness the increased number of orders and sales for your business.
With the help of Walmart Integrator by Knowband you can now sell and manage the inventories at the Walmart Marketplace from the backend of your store . Walmart integrator is available for various CMS platforms like Prestashop, Magento, OpenCart and Shopify.