Walmart is an established and well-known name in the online retail landscape. Although Walmart.com has long supported the well-known offline Walmart locations, the Walmart virtual marketplace didn't debut until 2009. As a result, third-party merchants could sell products on the Walmart online platform to just any other first-party company. Sellers from all around the world can list their products on Walmart, irrespective of product type.
However, to
maintain the website's authenticity, Walmart has a strict verification
procedure for registration. In this blog, we have compiled the essential
details required to be a Walmart registered seller and some additional tips to
succeed in 2023.
Perks Of Selling Your Product On Walmart Marketplace
Before moving
forward with how to create a seller account, let’s first understand what are
the benefits of choosing Walmart over other platforms. Here are some top
benefits of Walmart product listing for the seller.
Brand Value:
Walmart is one of
the top online marketplaces with exceptional brand recognition. Its strict
verification procedure ensures the customers that every product listed on the
site is valuable and unique. Sellers can leverage Walmart’s reputation and
brand value as a medium to increase the brand value of their products.
Less Competition:
Unlike other
online marketplaces, Walmart has very limited registered sellers. The
registration process is stressful, and time taking, but is worth the struggle.
With limited sellers, the number of competitors decreases, and your chances of
sales increase.
Increase Product Visibility
Recent reports
show, more than 230 million people visit Walmart stores in a week, making it a
gold mine for sellers. With these many people visiting Walmart stores
regularly, the chance of product visibility increases. Listing your product on
Walmart exposes your product to tons of potential buyers, indirectly increasing
your sales and revenue.
No charges
Unlike other
online selling platforms, Walmart does not impose a registration fee.
Additionally, there are no monthly or yearly subscription fees. Instead, a
referral fee is required for each sale you make. These referral payments might
range from 15% to 40% depending on the product type.
Free Analytical Tools
Walmart allows
sellers to link their current inventory management systems with its platform.
Additionally, it offers listing tools for easy management of pricing,
promotions, and inventory. Apart from these, Walmart manages the customer
support and return policy on your behalf.
Walmart Fulfillment Services
Regardless of
your platform, managing shipping, refunds, and customer service are some of the
most challenging aspects of selling. Walmart Fulfillment Services provides
vendors with management solutions by handling all the services.
Steps On How To Sell on Walmart Marketplace
Now, we know how
beneficial it is for a seller to become a part of the Walmart marketplace.
Let's focus on how you can create your seller account in simple 5 steps.
Step 1: Submit an Application and Wait for the Response
To be a registered
seller on Walmart Marketplace, you must fill out an application. The
application contains 5 different parts- Seller’s details, Company registration,
Product and Integration, shipping details, and confirmation. This application
filling session requires a few minutes. Fill out the form with patience as this
determines whether or not you will be the registered seller on Walmart.
Here are the
required documents for verification:
- US Business Tax ID or Any Valid Business license (SSD is not accepted).
- W9 and EIN Verification letter from the Department of Treasury.
- Primary product category, Catalog size, total SKUs planned for initial process, etc.
- Proper address and place of the current operation in the US.
- Planned integration method for your product catalog (API, bulk upload, or a solution provider).
After submitting
all the important information, you must wait 20-30 days. The response from
Walmart depends on application details, business size, and capabilities.
Step 2: Create a Walmart Seller Account
Once you receive
the approval, your registration process begins. You will receive an email
containing links to register, where you have to fill in 6 different sections.
- Account creation: Like any other
social media handle, you must register by setting a username and password. For
further processing, you’ll be using this credential to manage your seller
account.
- Retail agreement: This particular
step contains a Walmart retail agreement that all the sellers have to sign
before listing.
- Company
registration: Once you agree to all the terms and
conditions, you must register the company name and address. Remember, the name
you mention here will be the display name for customers.
- Tax forms: In this step,
you have to fill out the W9 form for tax details. The form asks for details
like Name, Address, and Taxpayer Identification Number (TIN).
- Payment Details: Walmart is
registered with Payoneer and Hyperwallet for payment options. You can choose
either for your marketplace payment process.
- Shipping Details: After
registering the company’s official name and address, you must select your
shipping methods, price, and other important details. This step involves a lot
of critical thinking and patience. You can have better knowledge about shipping
strategy later with Walmart Marketplace’s customizable shipping templates.
Step 3: List Your Product
Once you are done
with the seller's account, it is time to list your product. You can simply list
your catalog manually or through product feed. Whichever method you choose,
remember to list your top-notch products first with proper descriptions. This
will ensure a better chance of visibility after going live. The status of every
successfully added item will change to "stage," meaning they won't
appear on Walmart.com until you go live.
Step 4: Test Your Order
Before going
live, it's your (seller's) responsibility to check whether the ordering
procedure is smooth or not. You have to order 2-3 products for testing order
shipping, order payment, and order refunding process. For this process, you do
not have to ship the products, just test the entire process and leave it at the
time of ‘Confirm Orders’.
Step 5: GO Live!
Once everything
goes as per your expectation, it's time to launch your product on Walmart
Marketplace. When Walmart has finished its final evaluation, your account will
be made Live. The customers can search and place orders after 24-36 hours of
going Live.
How to become a successful Walmart seller
Different factors
can either make or break your sales rate, product visibility rate, and revenue
percentage on the Walmart Marketplace. Here are some tips for
Walmart marketplace management.
Keyword Research:
Customers search
for products using certain words. These words are referred to as important
keywords. Including these keywords in your Walmart product listing are
essential for visibility ranking. Sellers can use keyword research tools to
find relevant keywords and mandatorily include keywords in product
descriptions, titles, and key product features. Remember two important aspects
while including these;
- Avoid keyword stuffing.
- Only include relevant keywords.
Product Research
Product research
means knowing exactly which product or product category is In-demand. This will
help the seller to list the same category of product for better sales. Sellers
can use the growth opportunities tool present in your seller center to know the
top product.
Listing optimization
Any confusion
caused during the product listing will directly impact your sales. So, take
your time with product descriptions, titles, images, and other key features.
Here are some tips to keep in mind while crafting
your Walmart product listing:
- Be loud, clear, and bold with your copies.
- Select the correct product category.
- Include the relevant keywords.
- Add correct images of the product with different angles.
- If possible, add a video of the product.
- Be clear about the discount and after-services offered.
Customer reviews and feedback
Customers
generally crave validation. And this validation can be given to them through
customer reviews. Ask your happy customers to share their experiences through
reviews. This will indirectly motivate others to try out your product.
Additionally, if any customer comments with a bad review, reach out to
them politely and resolve their problems.
Advertise Your Product
Walmart offers
two different ad solutions to promote your product on its website. You can
choose whichever is suitable for you.
- Search ads: These ads show
the relevant products to the customer when searching.
- Display ads: These ads act as
a marketing tool for your product on Walmart’s channels.
Conclusion
Walmart has
become one of the top eCommerce online retail platforms and continues to grow,
especially after its global expansion. With more than 10,000 registered
vendors, there is no denying the great opportunity that the future might hold
for it. Having a sales channel on Walmart Marketplace at this point will help a
seller easily enter the US market or expand the businesses and go global.