There was a time when door-to-door sales were predominant, with merchants and resellers having their own trade routes and markets, lugging bags filled with samples and catalogs. When chain stores and big malls became more popular, the trade routes evolved to accommodate an increase in delivery volume (measured by the truckload). Today, the market has, once again, evolved. The trade routes have become digital with most, if not all, headed to and from e-commerce platforms.
The global pandemic has further changed the way consumers purchase goods and online shopping became the new normal. That being the case, the online marketplace has boomed with the Alibaba group dominating the Asian market; while Amazon reigns over in the US. As these platforms grow and expand, competition becomes cutthroat and downright cannibalistic.
This article will discuss points of consideration as you proceed with your e-commerce business. Then you’ll get to know Walmart Marketplace: why you should try it and how to get started.
The first point to consider is saturation.
If your online trade map looks saturated, it’s time to consider branching out to other avenues. Many platforms support this idea. With Amazon, ads are displayed outside of the site so that they would bring more people to the Amazon Site. Walmart also works with Shopify and other partners. Instagram and Facebook are also offering shop modes.
And if you have a great marketing team like Seller Interactive, you can start selling from almost anywhere and get customers from everywhere.
The main idea is that, by diversifying your markets, the more sales you’ll get. Some markets will be more competitive and aggressive than others so having one or more other options is better than putting all your eggs in one basket.
Another point to consider is exclusivity. This method has been a proven success, time and again. There’s something about the words “exclusive” and “limited slots” that plays on the psychology of customers. It gives a sense of elitism, of standing out of the crowd, of being unique. This is why people brag about getting into a prestigious school, acquiring a special license, or receiving a medal of recognition. It’s the same with buying limited edition goods and special releases. Not everybody gets to have it, so everybody wants it.
“Exclusive” is also associated with rigorous testing and selection processes. The more exclusive a group is, the more stringent the application process. And this is why brands enrolled in Amazon Brand Registry, and sellers with Amazon Prime Badges get more trust from buyers than other sellers.
The more exclusive the status, the higher the desirability.
Now informed of e-commerce’s current state and buyer behavior, consider Walmart Online.
Walmart is a well-known retail chain and Walmart Marketplace is the retail giant’s answer to consumer demands for more third-party sellers. Product innovations and businesses looking to expand now have a shot at accessing Walmart’s audience.
The wonderful thing about Walmart is it’s not just offering a platform but rather opportunities for businesses to become partners and sell on Walmart.com. Read on about why you should sell here.
When you explore Walmart Marketplace, you will discover a carefully curated community of trusted merchants. Each one has been screened and approved, ensuring that only professional and authentic businesses are available for the buying public.
You’d also discover that Walmart doesn’t like a saturated market and prevents too many sellers from selling the same wares. Uniqueness is key to success and keeps the marketplace well-curated.
Walmart welcomes sellers from other e-commerce companies like Shopify. The integration allows you to sell on Walmart but manage the transactions in your Shopify account or other e-commerce partners.
Walmart is a retail company with already established infrastructures across the states. Because of this, Walmart Marketplace has an additional shipping system that other platforms have yet to accomplish: curbside shipping.
By having physical stores ready and able to serve, Walmart can offer Enhanced Returns. Enhanced returns is a Walmart feature wherein customers can drop off their packages at their nearest Walmart location.
Those are three items, but Walmart Marketplace still has many features to be released as they continue to grow.
A seasoned entrepreneur knows you need some capital to get you started. After all, if you want to cross bridges, you have to pay the tolls.
Walmart Marketplace has a simple pay-per-sale strategy. With every product you sell, there will be a referral fee. There are no monthly or annual membership fees. The referral fee, however, varies depending on the product category and ranges from 6% to 20%.
Like other platforms, there are requirements to be met before you can sell on Walmart Marketplace.
Once you have all the necessary documents, you may begin the stringent and selective approval process.
Proceed to the ‘Application Start’ page. The application process takes approximately 10-15minutes. And you are advised to use Google Chrome to access the site.
You will receive an email inviting you to set up your “Marketplace seller account.” Follow the instructions and sign the “Retailer Agreement.”
Complete your registration by creating your seller profile and setting up your preferred payment channels.
Choose from three integration types to upload your catalog. Create your product listings in excel and upload using Bulk Uploader. Or perhaps you prefer directly using codes through the API. The last option is hiring a solutions provider from Walmart’s list of e-commerce partners.
Once everything is in order, there will be a final review to ensure everything is up to Walmart’s standards.
WFS is a free program for successful applicants that would enable Walmart to handle the packing, shipping, and delivery of your products, while also providing customer support. All you need to do is ship your products to a Walmart Fulfillment Center.
However, you can no longer use other fulfillment services once you choose WFS. If you also have an Amazon store, you cannot use FBA services.
Choose a Walmart Partner agency with a team of dedicated, highly-skilled managers to assist you.
It is an ideal time to dive into Walmart Marketplace. Although having similarities with Amazon, it also has other features to offer. Their seller screening process prevents market saturation and cannibalization of products. Thus, offering a curated experience for buyers. Shipping and returns take on a new dimension as they take advantage of their established infrastructure. Having e-commerce partners allows them to connect with already known platforms, giving sellers more avenues to use.
So what are you waiting for? Start your new adventure at Walmart with Seller Interactive today and expand your e-commerce horizon. Start a call with us by dialing 1-800-820-3746!
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