Is the deal with Walmart a big deal?! My key highlights of below information are bolded for ease of scanning what I think are the most important and relevant pieces of information about Walmart.com sellers that helped me understand significance of their Walmart news!
From Fitsmallbusiness.com:
Step 1: Apply to Sell on Walmart
Sellers have to apply to start selling on the Walmart marketplace. The application isn’t lengthy, but the wait is. After providing your basic business information and an overview of what and how you currently sell, be prepared to wait 2-3 weeks for a response.
How to sell on Walmart marketplace -- application process
Source: Walmart
If approved to sell on Walmart, you’ll receive an email invite to set up a Walmart seller account. But, not everyone is approved, so let’s see what type of online seller the Walmart marketplace is looking for.
Who’s Eligible to Sell on the Walmart Marketplace
The Walmart marketplace only works with established online sellers. This is a major difference between Walmart and other major marketplaces like Amazon and eBay. If you’re just getting started in online sales, Walmart isn’t likely to approve your application. You’ll first need to established online sales history on your own website, on Amazon and/or eBay, plus have a proven brand or product collection.
“There are some challenges to getting accepted Jason DePietropaolo - how to sell on Walmarton Walmart. It is not hard but you must have prior third party marketplace experience and know the answers to the questions that Walmart will ask. Walmart will research your sales history on Amazon and Ebay. Your feedback on other third-party marketplaces weighs heavily on Walmart’s approval process.”
— Jason DePietropaolo, CSO & Co-Founder, ChannelApe
From Walmart.com:
What seller qualities does Walmart Marketplace look for?
We are looking for relationships with reputable retailers and brands that provide first-class customer service, a compelling
product assortment, competitive pricing and fast, reliable fulfillment.
How can my business be considered for Walmart Marketplace?
Click "Apply Now" on the Walmart Marketplace homepage and complete the application. A dedicated Business Development
Manager will help you through the verification process. If approved, you'll acknowledge our Retailer Agreement and then
start the onboarding process to get your products on Walmart.com.
How long before I can start selling on Walmart Marketplace?
Start by completing the Seller Application, which should take about 10 minutes. The approval process takes around 1-2 weeks. If
approved, onboarding and integration generally takes 2-4 weeks.
From cpcstrategy.com:
Is the Walmart Marketplace Right for You? | The Complete Guide
Posted by Tara Johnson on April 18, 2018 in Ecommerce
The Walmart Marketplace offers third-party sellers serious potential for revenues and exposure.
As the second-most popular online retailer in the world, Walmart.com brings in a whopping 127 million unique visitors every month – inching out sites like eBay, Target, Kohl’s, Best Buy, Etsy and more.
And though it doesn’t surpass Amazon in terms of reach, the lower levels of competition, smaller product selections and an easier buy box scenario just may make it a more lucrative opportunity for many sellers.
walmart vs. amazon apparel sales overall
Are you considering selling on the Walmart Marketplace? Not sure if you should dive in just yet? Let’s look at the platform in depth.
Why Sell on the Walmart Marketplace?
The biggest reason to sell on the Walmart Marketplace is the lack of competition.
While Amazon claims a shocking 2 million third-party sellers and growing, Walmart’s platform only has about 1,000. This alone makes standing out (and winning those sales) easier.
Benefits of selling on the Walmart Marketplace:
It has a smaller product selection – Don’t get me wrong; Walmart sells a lot of products. The site has over 10 million unique SKUs and counting, but compared to Amazon’s near 300 million? It’s a mere blip on the radar. Walmart’s Marketplace has tons of room to grow in terms of product inventory, meaning there’s plenty of opportunity for hungry sellers.
Fulfillment services are available – Much like Amazon, Walmart also offers a fulfillment option for its third-party sellers. The retailer leverages its various stores, distribution centers, fulfillment centers and transportation partners across the globe to ship online orders on behalf of its sellers. The downside? It’s not two-day free Prime shipping, like Amazon offers, and may not be as appealing to customers.
Securing the buy box is easy – Unlike Amazon, which weighs seller performance, price, sales volume, defect rate and more to choose who wins its buy boxes, Walmart’s formula is simple. The lowest price gets the spot. Want to move inventory fast? Lower your price and claim the buy box. It’s that easy.
walmart marketplace home page
As you can see, there are a lot of benefits to getting on the Walmart Marketplace – but compared to Amazon’s ecommerce operations, they’re still lagging.
“Walmart already has a massive retail scale in terms of distribution and brick and mortar ownership, but they’re behind Amazon on ecommerce,” says Nii Ahene, COO of CPC Strategy.
nii ahene coo and co founder cpc strategyBLOG POST: “Walmart vs. Amazon: The Race for Ecommerce Apparel Sales“
It’s important to note though, Walmart is invite-only. You’ll need to apply to be considered, and only a small portion of applicants can expect an invite. They tend to focus on sellers with already proven ecommerce sales and a strong presence online or in other marketplaces (like eBay or Amazon.)
amazon vs walmart apparel
Other big differences between the two platforms? Walmart’s selling fees are lower and it doesn’t have restrictions on categories or product types.
Still, because it’s newer than Amazon, many common seller tools and apps don’t integrate with Walmart just yet. This is likely to change as the platform expands.
Do you realize significance of this news? Do your own Due Diligence!
My posts are only my posts, so don’t ever rely on them as any investment or trading advice...never! Do your own Due Diligence/research before buying or selling any stock! I did my DD!