How to Become a Walmart seller?
It wasn’t until 2009 that perhaps the Walmart Marketplace was founded. This allowed third-party vendors whose goods complement the offers of first-party companies to join the Walmart.com marketplace.
Fast-forward to 2022, there are already thousands of vendors on Walmart Marketplace, and it’s just projected to grow exponentially.
Walmart Marketplace is a powerful sales platform for American vendors of all sizes, from the largest to the smallest, covering everything from clothing to electronics and everything in between.
Since Walmart Marketplace’s launch, Walmart.com’s e-commerce sales have grown by 79 percent, and online buying has become the standard for millions of Americans.
Look no farther than this blog article for all the information you need to get started selling on this internet marketplace and become a Walmart seller. In the following sections, you’ll learn about the enrollment process from start to end, as well as essential insider insights and how to use integration partners to drive success on Walmart’s website.
What do you get from selling on Walmart?
- More conversions
Getting more conversions is probably the primary goal of every business. And what better way to make sure of that than selling at a marketplace that has more than 120 million monthly visitors?
This means that the buyers vary from all kinds of industries and would definitely be interested in your products as well.
Along with that, you can also reach many potential customers that could become recurring buyers.
It’s also important to keep in mind that the Walmart Marketplace merchants are part of a carefully selected group. This means offering high-quality items at a reasonable price and providing excellent customer service are essential to get approved in the marketplace.
Ultimately, this means that you will have significant exposure for your product listings because of the lower level of competition.
- No fees and maintenance
Selling on the Walmart marketplace is absolutely free.
Unlike other online marketplaces, there’s no monthly fee, no maintenance fee, no extra taxation on a bigger volume of sales. You might even have to pay a referral or an item fee for every product.
However, at the Walmart marketplace, you can bag more profit as all you are ever asked to pay a referral fee that depends upon what kind of products you are selling.
The percentage varies from category to category, but it usually is 15%. This is true for a wide range of product categories, such as clothing, cosmetics, and furniture & garden. Referral fees for other products, such as consumer devices and cameras, are lower at 8%.
- An innovative platform
Walmart works on the account personalization methods.
This means that the products displayed to every user are explicitly tailored to their interest.
Some of the most cutting-edge eCommerce solutions can be found at Walmart, including sophisticated listing quality tools and advertising alternatives.
This even includes the expedited delivery programs that can naturally increase conversion by up to 50%.
Analytical insights are readily available, allowing you to make better business choices now and for the future.
What is the process to become a Walmart seller?
In order to sell on Walmart Marketplace, there’s a checklist of steps you can follow. We have laid down all the steps in this post.
- Applying to the Walmart marketplace
The first step to selling at the Walmart marketplace is to apply as a seller. You can do the same by using the Marketplace for sellers.
When you have all the information you need, the process of applying to sell on Walmart Marketplace should just take a few minutes.
You might have to gather the following documents:
- Federal Employer Identification Number (FEIN) (SSN not accepted)
- Form W9 or W8 from the Internal Revenue Service (IRS) verifying your company’s legal presence in the United States and your EIN
- Your product catalog’s planned integration method
- Catalog size, primary product categories, and other relevant facts
- Walmart’s Prohibited Items Policy prohibits the inclusion of any products in the catalog.
- Success stories in the market or in e-commerce
After all the information you enter, double-check it. As soon as everything is correct, click on ‘Apply now’, and you will receive the next steps through email, which we will discuss below.
To begin selling on Walmart, the next step is to register yourself as a seller.
After your seller account is created, there are a few next steps to fulfill (as per the email):
- Creating your account
- Consent to the business agreement with Walmart retailers
- Company Registration
- Tax forms
- Payment details
- Shipping information
As soon as you enter your details, choose a username and password to establish your account.
This is the same account where you can manage your seller account and monitor everything as a Walmart seller.
Walmart retailer contract
The Walmart retailer contract is a legal document that all Marketplace vendors must sign. This will be the next item on your to-do list. Sellers must agree to the terms and conditions outlined in this contract before any work can begin.
You’ll register your firm by providing a screen name and a corporate address as you go closer to getting things official. As a Marketplace partner, you must enroll with Payoneer or Hyperwallet in order to collect your Walmart payments.
Your shipment price model, delivery methods, and the countries you may ship to will all be selected here. Customizable Shipment Templates from Walmart Marketplace can let you become more in-depth with your shipping plan after the first setup.
Update your product details
In order to become a seller on Walmart Marketplace, the last step is to post your products and begin testing orders. Listing your products on Walmart is the only way to get your brand discovered on Walmart and allow people to buy your products.
Make sure to start with your best-selling products, and keep in mind that they will go live after the testing phase is through.
Provide a few things from each group for the first round of item configuration if you have items from several categories.
When you successfully add an item to your Walmart store, it will be placed in “stage” status, which means it will not appear on the site until you go live.
To go live on Walmart Marketplace, you need to make sure all the details are correct, and everything is how you want it to appear.
Your account will become online when Walmart completes its final approval procedure. Once you go live, your products will be published, making them available for purchase within a few hours and searchable within 24 to 48 hours.
A few tips
The listing quality dashboard may help you improve your listings
Any online vendor on any platform knows that the key to success has high-quality listings. But how can you tell whether your postings are effective or not? This difficulty may be solved by using Walmart Marketplace’s Listing Quality service.
Walmart Marketplace developed a sophisticated system that generates a quantitative Listing Quality Score by examining listings using a multifactor approach.
This score, which is expressed as a percentage and may vary from 0 to 99 for each seller, is shown at the item and catalog level.
Content & searchability, offers, ratings & reviews, and post-purchase quality are the four components that make up the customer experience. Check out the Listing Quality Dashboard in the Sellers Center at any moment for an overview of your listing’s quality score.
Aside from the item and catalog ratings, you’ll get specific advice on how to enhance your listing and attract more buyers here, as well. Big Red House’s total Listing Quality Score went from 17 to 78 within two weeks after applying the dashboard’s advice, according to Walmart data. The firm observed an increase in sales after updating its listings for its oven mitts. High-quality photographs, product descriptions, and affordable delivery choices aren’t the only factors that contribute to a robust listing.
Expedited shipping plans and offerings might help you win over more consumers
Customer satisfaction and cheap delivery prices are essential to the success of an online business.
Expedited delivery on Walmart Marketplace makes it simple for vendors to keep track of orders. A wide range of options are available when setting up your shipping settings, so you can select what works best for your company. Using the Two Day method is a win-win situation for you and your clients.
Walmart will highlight products with prominent ‘free 2-day delivery’ tags if they are in your catalog and can stay up with two-day shipping expectations.
A lot of attention is drawn to these products, which leads to additional sales. The average increase in conversion for participants in the two-day session is 50%, according to Walmart’s research.
The Walmart marketplace is a fantastic platform to sell your products.
With the number of customers and the seller’s convenience, you won’t find it hard to fit your products into the wide range of collections available here.
To make sure you are absolutely acing sales and conversions, make sure that you are striving to rank higher in your listing category.
This could be achieved by identifying your audience, catering products that last and are of high quality, generating the best reviews, and being displayed with adequate information.