Currently selling on Amazon and looking to grow your business through the Walmart Marketplace? Walmart is one of the fastest growing marketplaces right now. According to Forbes, Walmart's E-commerce has grown 97% compared to the industry's 27%!
Walmart's Marketplace has over 33,000 sellers selling millions of different products on Walmart. Most of the other marketplaces have millions of sellers. With that said, Walmart has become one of the fastest-growing marketplaces and is continually updating its systems to make the seller experience even better.
With the steady growth Walmart has had, they decided to roll out Walmart+ to compete with Amazon Prime. Walmart+ gives you free shipping with no minimum orders, free delivery from your local Walmart, member pricing on fuel, scan & go, and they are launching even more benefits soon.
With there not as many sellers on Walmart at the moment, it makes ranking products much easier then on more saturated marketplaces. When your product begins to sell it will rank up the pages and the goal is to get it to page one or the top of page one to get more sales. In saturated markets, it may take 200 sales per day to get to page one, where on Walmart it may only take 30.
Sure, you might be saying to yourself, well than that means Walmart is much smaller than other sites like Amazon. Where this is true, Walmart has been having insane growth and is working to become a large competitor to Amazon, so why not jump on the train and ride it to the top.
Being as Walmart is a newer marketplace, they are making a big push to get reviews on products and encourage buyers to leave reviews. Reviews are so important to selling products, if the product next to yours has 100 reviews and yours has 2, buyers most likely will buy the one with 100 reviews, even if it is a higher price. So it is important to build reviews now to lock in your products and make it harder for competition to compete with you.
Bazaarvoice gives a great deal of information on how reviews benefit your listings in regards to sales. It was found that product reviews influenced your products discoverability in search and sales. What was found that just one review increased products orders by 10%, eight reviews began to have some seo benefits to the product, and fifty and above had a 30% increase in orders.
Additional programs have been put in place with Bazaarvoice to help boost your listing reviews.
4. Growth Opportunities
Walmart suggests products that you should look into selling. Not only this, they have created a Pro Seller Badge that they give to each seller as long as they follow certain criteria. One of which is that your listings have a 50% or higher quality score. Walmart provides you data on each listing to show you how to improve searchability and hopefully result in more sales.
To qualify for the pro seller badge, you must meet the following requirements:
- Listing quality score must be at least 50% for 60% or more of your trending items.
- Delivery defect rate of 10% or less.
- A cancellation rate of 1% or less.
- 100% of your items offer free online and in-store returns.
5. No Monthly Fees
A huge perk to selling on Walmart Marketplace is that they don't charge you any monthly seller fees. Walmart does charge referral fees which is pretty typical when selling on marketplaces.
Take the Next Step in Selling on Walmart
Learn how to sell on Walmart here: https://selleracademy.com/pages/selling-on-walmart
We love when we see sellers from other marketplaces looking to sell on Walmart. The reason is, they already understand how to sell on Amazon and so we can help them get up to speed much faster. If you are looking to get started selling on Walmart we can help.