Highlights
- Online marketplaces dominate eCommerce, accounting for 67% of global sales in 2022.
- Walmart Marketplace offers third-party sellers a platform with low setup costs and high visibility.
- Sellers can choose between 1P (Walmart-managed) and 3P (self-managed) accounts, each with unique benefits.
- Walmart Fulfillment Services (WFS) provides storage, shipping, and returns support, enhancing customer experience.
Online marketplaces are becoming popular more than physical ones. They offer convenience and a wide variety from the comfort of your home. According to a Mirakl survey, 70% of shoppers see online marketplaces as the most convenient way to shop, thanks to better delivery options, an extensive product range, and competitive pricing.
Forrester reported that online marketplaces would account for approximately 67% of global eCommerce sales in 2022. By selling on these marketplaces, businesses can tap into a share of the $40.2 billion generated by eCommerce sales in 2022, a significant increase from $18.6 billion in 2017. Some of the benefits sellers enjoy on these platforms include:
- Access to an established customer base
- Low entry costs
- Greater product visibility
- Reliable fulfillment options
- Simplified return processes
- Increased consumer trust
- Reduced risks compared to standalone eCommerce sites
An Introduction to Walmart Marketplace
Walmart Seller Central or Marketplace provides a platform for third-party sellers to showcase and sell their products, bringing Walmart’s extensive reach to independent businesses. As a seller, you can list your product on Walmart with a detailed description that creates a trustworthy shopping experience for customers.
Marketplace Pulse highlights the rapid growth Walmart Marketplace has seen over recent years. In 2016, Walmart had 5 million products listed, a number that skyrocketed to over 17 million by the year’s end. By 2017, the platform boasted 31 million listings, driven in part by an increasing number of sellers. The platform’s expansion illustrates its potential for businesses looking to reach a broader audience.
Types of Seller Accounts on Walmart Marketplace
Just as Amazon seller accounts, there are two main types of seller accounts on Walmart Marketplace: 1P (First-Party) and 3P (Third-Party) sellers.
1P Sellers
These sellers supply products in bulk directly to Walmart at wholesale prices. Walmart then takes over, selling the items on its platform under Walmart’s name. Sellers act as sources for Walmart and then it handles every phase of the product cycle. From pricing and listing to marketing and order fulfillment, Walmart does it all. Such products are labeled as “sold and shipped by Walmart” to build trust with customers.
3P Sellers
Independent sellers operate their storefronts on the Walal Seller. As a 3P seller, you maintain full control over your product listings, pricing, and shipping. Walmmart Centrart acts as the platform where your products are listed, while you manage the operations. The 3P model offers maximum flexibility, allowing you to retain brand ownership and make decisions independently.
Steps to Start Selling on Walmart Marketplace
To get started, visit the Walmart Marketplace signup page, complete the application form, and review the terms. Once registered, you’ll go through a three-step onboarding process:
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Business Verification
Submit your business details, including tax information that aligns with IRS records to expedite verification.
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Payments
Set up your payment information, knowing that there are no setup or monthly subscription fees.
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Shipping
Configure your shipping options and select your preferred carriers and return methods.
Pro Tip
If you’re looking for assistance with storing, packing, and shipping, Walmart Fulfillment Services (WFS) offers end-to-end solutions at competitive rates.
What Happens After Approval?
Once Walmart approves your application, you’ll need to complete a few more steps to fully activate your account:
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Create an Account on the Walmart Seller Center
Go to Walmart Seller Central sign up, follow the prompts, and create and set up your account.
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Submit Company Registration Information
Provide your company details, including DUNS numbers for U.S.-based businesses.
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Provide Tax Information
Complete a W-9 form to share your tax details.
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Set Up Payment Information
Walmart will pay out your sales proceeds every two weeks.
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Set Up Shipping Details
Specify your shipping fees and delivery options.
With these steps complete, your account will be ready to go, allowing you to manage your listings and begin selling.
However, you need to know that though there is no upfront cost of setting up your Walmart Seller Central account, you will have to pay a referral fee for each sale. This fee varies between 6-20 percent depending on the category of product. You can find more information about this on Walmart's site.
Benefits of Walmart Fulfillment Services (WFS)
Similar to Amazon’s FBA, Walmart Fulfillment Services (WFS) simplifies storage and delivery for sellers. Once a customer places an order, Walmart handles the picking, packing, shipping, and customer service, including returns.
Key advantages of WFS include:
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Inventory Storage and Order Fulfillment
Walmart manages inventory at its fulfillment centers, picking and shipping orders on your behalf.
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Enhanced Visibility with 2-day Shipping Tags
Products fulfilled by Walmart are marked with 2-Day Shipping tags, which can improve search rankings and Buy Box prominence.
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Omnichannel Returns
WFS offers an easy and reliable returns process, increasing customer satisfaction.
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Streamlined Costs
WFS has a fixed monthly storage fee and a fulfillment fee based on item weight, with no setup or subscription costs.
Conclusion
Walmart Seller Central offers a wealth of benefits, from low setup costs and reliable fulfillment services to competitive pricing and improved visibility. As consumers increasingly value convenience, marketplaces like Walmart are becoming central to the future of eCommerce.
For sellers, Walmart Marketplace provides access to a massive customer base and the opportunity to grow their business. From Sponsored Search ads to end-to-end fulfillment services, Walmart offers the tools you need to succeed. So why wait? Sign up for Walmart Marketplace today and explore the full potential of eCommerce with Walmart’s robust ecosystem.
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FAQs
Does Walmart Seller Central have an app?
Yes. Walmart Seller Central app lets you manage your store from the convenience of your phone. You can manage incoming orders, get updates about inventory, and stay connected with customers.
