Why would you be a good fit for the Walmart marketplace?
The US has witnessed a paradigm shift from traditional retail to online shopping in the past few years. If you are shopping online, you will have an overwhelming amount of choices. It is important to note that Amazon, eBay, Etsy, and Walmart are some of today’s best-known e-commerce platforms. The names are familiar to everyone since we have all encountered them at one time or another as a result of their prevalence.
Walmart marketplace is one of the largest online shopping platforms available in the world today. But why would you be a good fit for the Walmart marketplace?
What Is Walmart Marketplace?
Walmart Marketplace is a site similar to Walmart, but it also makes third-party sellers available. Walmart is synonymous with high-end retailers as a name associated with hypermarkets and department stores. Shoppers can find products listed by third-party sellers on the Walmart marketplace, an online shopping platform that offers them the flexibility to buy products from third-party sellers.
In order for the website to work properly, sellers must list their products in a manner similar to what they would do on Amazon or eBay. Whether you are a seller or a customer, you will be charged accordingly to whatever division you fall under. As you are in charge of selling a product, you will also be subject to Walmart’s referral fee.
The criteria by which Walmart invites sellers
Walmart is devoted primarily to delighting its customers and maintaining the highest quality service at all times. Therefore, when considering applying to the Walmart Marketplace, be aware that this is the first criteria they consider as they partner with sellers. However, there are a couple of other criteria that should be considered as well.
Why would you be a good fit for the Walmart marketplace?
Walmart allows pretty much everyone to sell if they meet the following criteria.
- You must have experience and success as an e-commerce seller in order to be able to make this work for you.
- Your track record must prove that you have delivered excellent customer service.
- Moreover, you need to make your products competitively priced and make use of efficient fulfillment methods, including quick shipping methods.
- As a result, your business and its warehouses must have an address in the United States along with its registration in the U.S.
- There must be an impressive collection of products available to customers.
How to get approved on Walmart?
You may find that the requirements you must meet to be a Walmart seller seem a bit overwhelming. Now that you have read why you would be a good fit for the Walmart marketplace next step is to get approved.
People frequently ask the following questions: How can I get approval to sell at Walmart? Does the Walmart Marketplace approve applicants easily?
As long as you have all the required documents prepared, the entire process should take no more than 10-15 minutes. In accordance with the Walmart marketplace website, the following documents are required for the marketplace application:
- Tax identification number for U.S. businesses
- Form W8 or W9 for tax purposes
- Please provide the U.S. business and operations addresses, as well as your warehouse or place of business in the USA.
- Letter of verification of your EIN issued by the U.S. Department of the Treasury regarding the place of your business and operations in the U.S.
- Information regarding product categories, catalog sizes, and other product-related details, such as a description of your integration method. If necessary, protect your products by ensuring they do not fall into the prohibited categories.
Walmart will probably invite you to offer your products to the store if you demonstrate the competitiveness of your product with their other products. You may be offering a more comprehensive range of products as well as a more affordable price point.
In order to sell to Walmart, you must demonstrate that your product is reliable and of the same high quality each time. Your fulfillment process must be fast. A quality customer service experience is also imperative for the success of your business. All of these factors contribute to the decision whether you will be invited to sell on Walmart or not.
The question is, what can you do to let them know you exist and that you can fulfill their goals? It is a matter of applying for access and making sure you meet the criteria. Simply go to the site and fill out the Request to Sell form. You will need to fill out the Retailer Agreement and provide the necessary information to be considered for this program. The onboarding process will follow shortly after that.
When does Walmart complete the approval process?
Once you have submitted your application, Walmart will review and approve it, and you will only hear from them once they have approved it. Walmart usually takes between 2 and 4 weeks to approve an application. If Walmart requires any additional information about your application, they will also contact you during this time.
It is possible that the next time you hear from Walmart is to notify you that you have been approved as a Walmart seller. Your Walmart seller account will be activated at that point.
What are the benefits of selling on Walmart?
You now know what the Walmart Marketplace is and the steps needed to get approval to start selling on it. Now you are probably asking yourself why you would want to join Walmart Marketplace? Let me give you some reasons for your consideration:
There are no monthly fees
Selling on Walmart Marketplace has a number of advantages, including the fact that there is no monthly fee. You pay a referral fee instead, which ranges anywhere between 6 and 15 percent depending on the kind of product you’re selling.
In Walmart’s way of doing business, sellers can make more profits for their businesses on a more regular basis. You are required to pay a monthly fee with some online marketplaces in order to maintain your listing on their website. A referral fee or an item fee may be payable in addition to the monthly fee.
Lack of competition
Then there will always be competition for your product when you place it on an online marketplace. If you wish to compete with Amazon, Walmart, or other third-party sellers, then you need to get your products listed on the sites that host them.
The competition for your business is reduced when you sell your products through Walmart. Why is this the case? Walmart has a strict policy regarding who is allowed to sell on its website. In order to sell on Walmart, it is a challenging process; however, the lengthy process is worth it in the end. Taking part in becoming a seller on Walmart is more difficult than being a seller on Amazon.
Expand your brand’s exposure
Walmart Marketplace allows you to reach a wider audience. If they do not buy your product, they will still have the opportunity to become familiar with your company name. If you can build trusting relationships with them, they may be more likely to purchase from your business when they are ready.
Walmart Marketplace does not cause increased website traffic directly, but listing products on Walmart does boost traffic for many businesses. In the case that you receive brand exposure, there is a high possibility that your website will receive more traffic and conversions as a result.
Increase your lead generation efforts
Your business can reach more customers if you advertise on Walmart Marketplace. It is estimated that approximately half of Walmart Marketplace shoppers are not Amazon Prime members or do not use Amazon on a regular basis. Two-day shipping benefits are easily accessible without joining a special program, even if some do not pay for the membership.
The opportunity to market your products to a whole new audience exists. You can reach new leads that you cannot reach on your other platforms by using this platform. Taking part in one of these events will let you capture leads that show an interest in your products.
Among the most trusted names in the retail industry is Walmart. Due to its well-established presence and a commitment to customer service, people feel confident about purchasing products from Walmart. Customers have grown to trust and rely upon Walmart.
The trust and authority that comes with selling your products through Walmart Marketplace are yours. In the case of Walmart, people will assume that you have been thoroughly vetted before being eligible to sell products on their website.
Because Walmart is backing your business, consumers will be comfortable making purchases from you. People can gain confidence to visit your business outside Walmart’s website as a result of this exposure. Obtaining more conversions and repeat business is a result of this exposure.
Sell your products on Walmart Marketplace in order to earn more conversions. Walmart has a large database of relevant customers interested in your products.
It is possible to earn the Buy Box by selling on the marketplace. In this way, you can quickly garner people’s attention so that they purchase your products rather than those of your competitors. Amazon’s Buy Box may already be familiar to those who sell on Amazon.
To attract the buy box, which is a powerful conversion tool, you should price your products lower than your competitors. Currently, Walmart accepts bids from companies with the lowest prices in its buy box. That means you can take advantage of that, and you will earn the right to bid on Walmart products.
Analytical tools at your fingertips
You can monitor your products’ success with Walmart’s analytics tools. The sales performance can be tracked to determine how leads are interacting with your products, which will help you make better decisions. That’s great for helping you improve listings on Walmart Marketplace and other sites.
You can create better campaigns with these analytics tools. You can supplement your campaign and boost conversions for your company by actively making changes, whether it is changing your subcategory or posting clearer pictures.
How do you get approved for the Walmart marketplace?
You must meet the following criteria in order to be approved by Walmart:
- Identification Number for U.S. Businesses (SSN is not accepted)
- W-9 or W-8 and an EIN Verification Letter from the Department of Treasury. This will confirm to the Department of the Treasury that you have an address or place of business in the United States.
- The physical location of the business.
- Business address in the United States.
Is it hard to get approved by Walmart Marketplace?
Yes, it is difficult to get approved to sell on Walmart to some extent. It has been well established that Walmart.com allows only a limited number of sellers to sell on its platform, and the company’s history shows that. For e-commerce sellers, there have been many roadblocks in the form of their application process and requirements to apply. For this reason, many sellers have not been able to benefit from an excellent opportunity.
Is selling on the Walmart marketplace worth it?
Yes, it is absolutely worth it. Anyone looking to expand their e-commerce capabilities will find the Walmart Marketplace to be a valuable resource. Their rules are a lot less strict than Amazon’s. Applicants should have high-quality products and previous marketplace experience to be considered.
How do I appeal a Walmart application?
If you do not meet the following criteria, your application may be rejected:
- The documentation of the business or tax is inconsistent
- Lack of experience in e-commerce
- Inability to provide quality customer service
- Prices are too high for the products
- Products prohibited are included in the inventory
You may receive a positive response if you attempt to resolve these issues and reapply.
If you are still thinking, why would you be a good fit for the Walmart marketplace? The above reasons should be sufficient to motivate you if you are a seller apprehensive about joining the Walmart Marketplace. We have collectively tried to explain why you would be a good fit for Walmart marketplace answers in this blog post.
Selling on Walmart Marketplace allows you to connect with a wider audience than you might have otherwise been able to reach. While Walmart Marketplace still faces competition, it is significantly less than sites such as Amazon and Shopify. To differentiate your business from your competitors on other platforms, utilize Walmart Marketplace.
With my vast experience in the e-commerce industry, I have successfully helped more than 250 e-commerce businesses worldwide to reduce their operational cost with cutting-edge e-commerce marketing services. My experience includes strategy, addressing daily issues, developing, delivering training, and supervising staff at multiple levels.