If you’re like most business owners, you probably don’t have the time or money to waste on a failed advertising campaign. So how do you know which marketing strategy is right for your business?
Walmart Marketplace might be the perfect solution for you. With Walmart Marketplace, you can easily get your business online without breaking the bank. Because the Walmart Marketplace is a platform where you can sell your products to millions of shoppers. And the best part? You don’t need to set up your own website or online store.
So overall, you can list your products on one of the world’s largest websites with the Walmart Marketplace. And because Walmart is a trusted brand, shoppers will be more likely to buy from you.
Want to learn more? Read our complete guide to learn everything about the Walmart marketplace. Moreover, we will guide you on how you can get your business online using Walmart Marketplace.
What Is The Walmart Marketplace?
The Walmart Marketplace is an online marketplace that allows third-party sellers to list and sell their products alongside Walmart’s own inventory. Launched on July 2, 1962, the marketplace has since become one of the largest online retail destinations, with over 120 million unique visitors per month.
It is easy to use and offers a variety of features that small businesses can take advantage of. For example, small businesses can create custom storefronts, offer competitive pricing, and provide product reviews and ratings.
The Walmart Marketplace is a great way for businesses to get their products in front of a large audience of potential customers. However, there are a few things to keep in mind before signing up. Here’s what you need to know about the Walmart Marketplace.
What Products Can Be Sold on The Walmart Marketplace?
The Walmart Marketplace sells a variety of products, including:
- Apparel and Accessories
- Baby Products
- Beauty and Health Products
- Books, Music, and Movies
- Home and Garden Products
- Toys and Games
Walmart Marketplace Eligibility Criteria
To be eligible to sell on the marketplace, products must meet certain criteria. For example, all products must be new and have a manufacturer’s warranty. In addition, there are restrictions on what can be sold in certain categories, such as weapons, tobacco, and alcohol.
What Are The Benefits Of Selling On Walmart?
There are many benefits of selling on Walmart, including the following:
No 1. A Large Customer Base: With over 120 million unique visitors per month, Walmart Marketplace gives businesses access to a large audience of potential customers.
Trusted Brand: Walmart is a trusted brand, which can give small businesses more credibility with shoppers.
No 2. Easy To Use: The marketplace is easy to use and offers a variety of features, such as custom storefronts and competitive pricing.
No 3. No Upfront Costs: There are no upfront costs to sell on the marketplace, which makes it a low-risk option for businesses.
What Are The Drawbacks Of Selling On Walmart?
There are a few drawbacks to selling on Walmart, including the following:
No 1. Competition: The marketplace is competitive, and businesses must offer competitive pricing and product listings to succeed.
No 2. Walmart Approval Process: All products must be approved by Walmart before they can be listed for sale. This process can take several weeks.
Fees: Walmart charges a referral fee on all sales, which is typically between 6% and 20%. In addition, sellers are responsible for paying all other third-party fees, such as credit card processing fees.
What To Consider When Choosing A Walmart Marketplace?
Selling on the Walmart Marketplace is a great way to reach a larger audience and increase sales for your small business. Keep these things in mind when choosing a marketplace to sell on, and you will be on your way to success.
No 1. Make sure the products you want to sell are allowed on the marketplace.
No 2. Consider the fees associated with selling on the marketplace.
No 3. Choose a marketplace that is easy to use and navigate.
No 4. Be sure to read the terms and conditions before selling on the marketplace.
No 5. Check out the customer support options available on the marketplace.
What Are Walmart Marketplace Tools?
There are a few Walmart Marketplace tools that small businesses can use to list and sell their products. The following are some of the most popular:
No 1. Delivery
As a busy seller, you know that Prime shipping is critical to your success. That’s why finding a reputable 3PL like Deliverr is so important – they offer 2-day shipping fulfillment just like FBA. Even better, Deliverr’s fees are comparable to FBA, making it an affordable option for busy sellers.
We’ve been impressed with the customer service at Deliverr – they really go the extra mile to make sure you’re happy with their service. Overall, We’ve been very happy with using Deliverr and would definitely recommend it if you want to do that yourself.
No 2. Sellbrite
Sellbrite is an amazing tool that makes Walmart listing a breeze. It’s easy to use and has a really nice interface. Plus, it’s trusted by thousands of Walmart sellers. It integrates with other major marketplaces, making it the perfect tool for small businesses that are expanding their sales channels.
No 3. Helium 10
Helium 10 is a great tool for researching products to sell on Walmart. We found that it had great search capabilities and could help me find products that would do well on Walmart. It also has a great research tool called Xray which can help you research products to see if they are a good fit for Walmart. Overall, we would definitely recommend using Helium 10 to do your product research for Walmart if you want to do it personally.
No 4. Bazaarvoice
When you’re looking for a reliable and trustworthy way to get product reviews, Bazaarvoice is the answer. They have a network of over 1 billion consumers, so you can be sure that your product will be seen by the right people. And if you send them free samples in exchange for authentic, user-generated content and reviews, they’ll even make sure it’s sent to the right people. So give it a try if you want to establish a store yourself. You won’t be disappointed.
No 5. Teikametrics
If you’re looking to expand your business to Walmart, then you need the best tool out there for advertising optimization – Teikametrics.
Teikametrics offers the ability to optimize your Sponsored Products campaigns on Walmart.com, which will drive profitability and ROI while reducing ad waste. With clients seeing a 21% – 167% lift in units sold and a 31% – 163% lift in average sales, it’s clear that Teikametrics is the industry leader when it comes to Walmart advertising optimization.
What Are Some Common Walmart Marketplace Mistakes?
Some common Walmart Marketplace mistakes include:
Not Researching The Marketplace
Not researching the Walmart Marketplace before selling on it can be a costly mistake. It’s important to understand the fees associated with selling on the marketplace, as well as the products that are allowed. You also need to make sure that you are familiar with the terms and conditions of selling at Walmart. It’s also important to research the products you want to sell. The Helium 10 tool X-ray is a great way to research products to see if they are a good fit for Walmart.
No 1. Not Optimizing Your Listings
If you don’t take the time to optimize your Walmart Marketplace listings, it will end up costing you dearly. Ensure every listing is accurate and complete, with product titles, descriptions, and images included. You should also use the correct keywords in your listings to ensure that they are seen by the right people. Teikametrics offers the ability to optimize your Sponsored Products campaigns on Walmart.com, which will drive profitability and ROI while reducing ad waste.
No 2. Not Offering Competitive Pricing
Not offering competitive pricing on the Walmart Marketplace will put you at a disadvantage compared to your competition. It’s important to remember that shoppers on the marketplace are looking for the best deals, so be sure to offer them what they’re looking for.
No 3. Not Providing Excellent Customer Service
If you don’t provide excellent customer service on the Walmart Marketplace, you will quickly find yourself losing sales. Be sure to respond to customer inquiries promptly and professionally. You should also offer a returns policy that is in line with Walmart’s policies.
No 4. Not Fulfilling Orders On Time
If you don’t fulfill orders on time, you will quickly lose customers on the Walmart Marketplace. Be sure to ship orders out as soon as they are placed and keep the customer updated on their order status.
No 5. Not Following Walmart’s Guidelines
If you don’t follow Walmart’s guidelines, you risk having your account suspended or even banned from the marketplace. Be sure to familiarize yourself with Walmart’s rules and regulations, and make sure that you are in compliance with them.
These are just some common mistakes sellers make on the Walmart Marketplace. Be sure to avoid these mistakes if you want to be successful on the platform.
How Can You Measure The Success Of Your Walmart Marketplace Campaign?
You can measure the success of your Walmart Marketplace campaign by tracking your sales and performance data. Use the Walmart reporting tool to track your progress and make necessary changes. Key metrics you should track include:
No 1. Sales
It is the most important metric to track when measuring the success of your Walmart Marketplace campaign. Keep an eye on your sales data to see how your campaign performs.
No 2. Conversion Rate
It measures the percentage of customers who purchase after viewing your product listing. A higher conversion rate indicates that your campaign is more successful in converting customers into buyers.
No 3. Average Order Value
Its metric measures the average amount that customers spend on each order. A higher average order value indicates that your customers spend more on each purchase.
No 4.Customer Satisfaction
It measures how satisfied your customers are with their purchases. A high customer satisfaction rating indicates that your campaign successfully delivers products that meet customer expectations.
What Are Some Walmart Marketplace Trends For The Future?
Well, digital marketing is always changing its landscape. But for now, we can assume some guesses.So, some Walmart Marketplace trends for the future include:
- More emphasis on Amazon-like advertising features
- A focus on quality over quantity for sellers
- An expansion of product offerings
- More cross-border selling opportunities
What do you think the future holds for Walmart Marketplace? Share your thoughts with us in the comments below.
Profitiya is a full-service digital marketing agency that helps small businesses achieve their online marketing goals. We offer various services, including website design, search engine optimization, social media marketing, and more. We have over 6 years of experience in the digital marketing industry, and we’re dedicated to helping our clients succeed online.
You can learn more about us or book a free consultation to talk to us about your business challenges.