In the last 12 months Wal-Mart has entered the online selling market in a big way, adding a number of existing startups and expanding its retail sales partners. Most online sellers recognize the tremendous opportunity for profit that could be realized by partnering with the largest retail company on the planet.
At the same time, many sellers remain confused about the approval process and how they can begin selling their products online through Wal-Mart. Based on our years of experience in the e-commerce industry SellerCloud has compiled the following guide to selling on Wal-Mart:
- You’re not in Kansas, anymore.
Make no mistake about it: Wal-Mart is aiming to challenge Amazon’s dominance in the online selling world. In addition to investing massive financial resources, the company is expanding the number of retailers who offer their products under the Walmart Marketplace moniker. Depending on your product offering, you will be competing not just with Wal-Mart, but also with other significant players like Wayfair, eBags and Jet.com. How big is the potential? Currently, Walmart.com draws more than 80 million viewers a month.
- No, you can’t do integration on you own.
If you are considering scaling up to Wal-Mart levels of sales and inventory, you can no longer rely on your own internal, do-it-yourself management system. While the basics of inventory management may be similar, differences between outlets can create headaches when you start to scale up. Adding Wal-Mart to the mix makes it even more essential to work with an inventory management system that can seamlessly handle multiple sites. SellerCloud has perfected its Wal-Mart integration, which means we are ready to go when you are. Let us handle the integration so you can focus on increasing sales and revenue.
- Review these 7 steps before signing up with Wal-Mart.
Step 1: Wal-Mart does not take everyone. Instead, you must request an invitation to qualify, which will require information such as legal company name, annual sales, product categories, etc. Currently, Wal-Mart favors sellers who offer products not found in their stores. If your company is chosen, you will be sent an “Invitation to Sign Up” email.
Step 2: Complete the signup wizard. Before you can access the Seller Center, you must make a personal seller account. The wizard will guide you through the process.
Step 3: Complete your seller profile. You will need to complete the remaining sections of your Seller Profile in the Seller Center.
Step 4: Penny test. Verify your account by logging into the bank account that you provided when you created your account. Verify that a penny was deposited. It should show up as “WM Marketplace Penny Test.”
Step 5: Complete your tax setup. To ensure that Wal-Mart customers are charged the right tax, you will need to set up your tax obligations in the Seller Center.
Step 6: Upload and test your items and orders. To upload your catalog of items, choose an integration method and proceed with the item setup. After that, confirm that your items appear the way you want them to on the Walmart.com site and test your order integration with Walmart Marketplace.
Step 7: Confirm that you are ready to launch. Once you have completed the first six steps, you will see a pop-up asking you to confirm that you are ready to launch. If you click yes, a message will be sent to the Walmart Marketplace Integration team so they can make your account live.
At that point, you are ready to start selling and get paid!
- What do Wal-Mart customers want in their purchase?
For Wal-Mart’s customers, e-commerce is all about finding products they can’t find in the store. Wal-Mart knows that the best way to attract more online customers is to offer them an abundance of products in stock, with a lot of variety – and at a low price. Unlike Amazon, Wal-Mart’s online brand will push value to its shoppers.
Based on this brief guide, you should have enough information to start exploring whether Wal-Mart is right for your company at this time. SellerCloud is ready to answer any questions you may have to assist you in the process of growing your online business. Feel free to contact one of our representatives to discuss your business needs.