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As a business owner, you must always be on the lookout for new opportunities to sell your products and grow your business. Staying on one platform may be convenient if you are a new seller. However, expanding your business in other marketplaces would help increase your sales and brand awareness because you can reach more customers who might not have heard of your brand before.
Fortunately, there are multiple online marketplaces you can explore, like Amazon and eBay. But you might want to consider Walmart Marketplace as it is one of the largest retailers in the world and has been considered a household name in the US for years. In this post, you will know why selling on Walmart Marketplace is a smart move for your ecommerce business.
Based on recent statistics, Walmart.com gathered more than 380 million site visitors in the past few months. Despite the emergence of several competing ecommerce sites and the drastic economic effects of the pandemic, Walmart still emerged as one of the most visited marketplaces in the US. So this means that you can reach several customers once you sell on Walmart.
Moreover, Walmart’s pricing strategy called Every Day Low Prices (EDLP) guarantee engages more shoppers who are looking for more affordable deals. Because Walmart has firmly stood by this mission, it has successfully acquired more loyal customers over the years.
So if you want to gain new buyers and maximize Walmart’s current customer base, consider becoming a seller in the Waltermart Marketplace. It would greatly help your business thrive and reach greater heights!
When doing business, you already know that having tight competition is inevitable. However, it is more challenging if you manage an ecommerce business. Normally, some business owners struggle to start their businesses because of finances. They had to spend money for their storefronts, employees, and offices.
But because of ecommerce marketplaces and websites, more people are creating their brands without worrying too much about costs. As a result, competition among brands selling similar products has become tougher by the day, which is evident on Amazon.
However, Walmart sellers can enjoy less competition in the marketplace because Walmart only has more than 100,000 third party sellers. This is way less than Amazon, which has almost 2 million active sellers on their platform. Because of this, you can sell more products on Walmart.com without worrying about market saturation.
Even though it is more difficult to become a Walmart seller, it becomes beneficial in the long run because of less competition.
In 2017, Walmart introduced its free 2-day shipping, which is now widely used by its buyers. This feature might seem similar to Amazon’s Prime shipping, but Walmart’s free 2-day shipping does not require a subscription.
Walmart customers can see which products are eligible for this benefit while they are shopping. However, they can only avail of this if their order is over $35. Even with this minimum order requirement, Walmart’s free 2-day shipping is still helpful to customers who want to receive their purchases within 48 hours without paying extra fees.
By providing this benefit for your customers, you can expect more visibility in the search results pages and more chances to win the Buy Box. These will help you gain more customers and boost your sales on the platform.
Remember that customers love free and fast shipping, which is available once you start selling on Walmart online. So, take advantage of this benefit and expand your business on the Walmart Marketplace.
When starting a business on a new platform, you must look into the available tools offered to sellers because it shows how valuable sellers are in growing the online marketplace. Fortunately, Walmart provides various tools that can help its third party sellers. These tools can help sellers like you generate analytics and manage your inventory and sales to grow and improve your business on Walmart.
To come up with functional but convenient tools for sellers, Walmart has worked with more than 50 solution providers so that you can be assisted in managing your business. These tools can help fulfill your orders, list your products, and manage your inventory.
Moreover, they have marketplace tools, such as Walmart Sponsored Products, Enhanced Returns, and Brand Portal. These will benefit essential areas of your business, specifically advertising, returns and refunds, and brand awareness.
Lastly, Walmart also has analytics tools to help you monitor your sales performance. Using these tools, you can see your customer behavior and buying patterns that can guide you in optimizing your product listings and improving your services.
If you are a new seller, paying to sell your products on an ecommerce platform should be the least of your worries. You might be wondering if you can sell on Walmart Marketplace without paying huge seller fees. Fortunately, Walmart does not ask its sellers to pay monthly subscription fees, unlike Amazon.
However, you will be asked to pay a referral fee for every item you sell, depending on its product category. For example, you have to pay 8% for consumer electronics, 10% for tires and wheels, 15% for office products and pet supplies, 20% for jewelry, etc. Despite these referral fees, you can still take home more profit because other huge marketplaces ask for both subscription and referral fees.
Like Amazon FBA, Walmart also has its fulfillment program called Walmart Fulfillment Service (WFS). Using this program, third party sellers can fulfill their orders easily and more efficiently by sending their inventory to Walmart’s fulfillment centers. Then they will be responsible for packing and shipping your customers’ orders. Moreover, they will handle customer and seller concerns and manage returns, if there are any.
If you do not have time and resources to pack and ship your products or handle customer concerns, using WFS will benefit your business. Once you entrust the fulfillment process to them, you can focus on your other tasks, like marketing or product development.
If you want your business to grow, you should be open to trying out other opportunities, like selling on a new platform. Walmart is already an established company that you can rely on if you hope to expand your business. It already has many Walmart shoppers and loyal customers and can give you access to free 2-day shipping.
Moreover, you do not have to worry much about competition, subscription fees, and fulfillment procedures. Lastly, it provides several seller tools to assist you in managing your ecommerce business and generates data to help you strategize and improve your services.
If you are interested in how to sell on the Walmart marketplace, it would be best to look for professionals or agencies offering account management services, like Seller Interactive. Their team members’ expertise and experience can help you expand your business on Walmart.com successfully.
To get started on your journey with them, email [email protected] today!
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