Wondering about the requirements to sell on Walmart, one of the fastest-growing marketplaces in the US? Or are you a new seller facing difficulty in the application process on Walmart due to the platform’s strict requirements for sellers?
Bother yourself no more because this content eases your burden by taking you through the right credentials you need to start selling on the Walmart marketplace. Keep reading to learn more about the requirements for selling on Walmart.
To become a seller on Walmart:
- Understand What Walmart Marketplace Is
- Know Why the Marketplace Has Become Popular Lately
- Familiarize Yourself With Walmart Marketplace Requirements
- Start Selling on Walmart Marketplace After Approval
- Verify Your Business
- Finalize Payment Settings
- Clarify Shipping Terms
1. Understand What Walmart Marketplace Is
To know the criteria for legitimate selling on Walmart’s e-commerce platform, get to know what Walmart marketplace is. Similar to Amazon and eBay, Walmart (as a B2C) marketplace allows third-party sellers to list their products.
With Walmart, you get the chance to list your goods and services in front of a massive audience with a continuous fast rate of customer growth. According to a record, Walmart’s customer base jumped from 18% to 33% between 2017 and 2018 alone.
Depending on the product you offer, you have to pay between a 6% and 15% referral fee on each item you sell–note that this is the only fee Walmart charges you.
2. Know Why the Marketplace Has Become Popular Lately
https://marketplace.walmart.com
To fulfill the requirement for selling on Walmart, understand why the platform has become a trendy website lately. The first thing about Walmart is that you have fewer competitors to deal with when compared with other selling platforms.
Amazon, for instance, has over 8 million sellers, which are far greater than Walmart’s 50,000 sellers, who welcome huge monthly visits from over 100 million consumers. Moreover, Walmart offers you no subscription fee of any kind, except the referral fee you have to pay for every item you sell.
Other contributing factors to Walmart’s marketplace popularity are the automated integration of analytics and management tools, the easy checkout interface, and the constant growth the platform experiences.
3. Familiarize Yourself With Walmart Marketplace Requirements
- Your US business tax ID
- The pdf format of your business license number—your W9 or W8 and EIN from the Department of Treasury—confirms your US address and your business place of operation.
- The supporting documents for your business name and address.
- History of marketplace or eCommerce success
- Products with GTIN/UPC GS1 company prefix numbers
- Product catalog in compliance with Walmart’s prohibited products policy
- Clear fulfillment strategic plan
- Walmart Fulfillment Services (WFS) or
- Another B2C U.S. Warehouse With Returns Capability
4. Start Selling on Walmart Marketplace After Approval
To pass the seller’s requirements on the Walmart marketplace, file a seller application and wait anywhere from 24 hours to 4 weeks for approval. Then proceed to create a seller account. After this, provide a clear plan on how to integrate Walmart products into other social platforms, including your website.
Accept Walmart’s terms and policies, including the retailer agreement. Don’t sell items on the Walmart marketplace’s list of prohibited items. Ensure you read Walmart’s policy on prohibited products so you can be on the safe side. Provide a clear plan on how to integrate Walmart into other social platforms, including your website.
You can use the bulk upload API. API is computer software that allows the sharing of services and products with other platforms or software. In addition, set a competitive price for your products and use effective fulfillment policy techniques. Last but not least, avoid selling similar products to your competitors and create a unique business and product that demonstrates your selling prowess.
5. Verify Your Business
To become a unique seller on the Walmart marketplace, verify your business by tendering your data and completing your seller profile. To scale through Walmart seller verification, build a long-standing sales reputation. Walmart uses your sales records to determine if you are a reliable and ethical partner.
Demonstrate excellent customer service and interactions. Create a unique product that can add real value to the Walmart marketplace. Walmart needs your professionalism to assure its consumers of a fantastic product selection and shopping experience. Don’t forget, Walmart is a consumer-oriented marketplace.
6. Finalize Payment Settings
To start making a profit as a seller on the Walmart marketplace, choose your preferred payment method. After finishing the seller verification, move to the payment page and select between Payoneer and Hyperwallet payment options on the Walmart seller profile. Verify your account with the payment option you choose by clicking the activation link you received in your mail.
7. Clarify Shipping Terms
To fully understand the demands for selling on the Walmart marketplace, clarify shipping terms to consumers. Provide all the information that relates to shipping and delivery time. Tell your shoppers the accurate duration it takes for ordered items to reach their destinations.
Walmart offers three shipping options; choose any one among Value, Standard, or Two-Day Shipping. In addition, set your return procedures, fees, and policy in compliance with Walmart’s return policy, and don’t forget to indicate if you want to ship items from non-US locations.
Conclusion
To begin selling on the Walmart marketplace, understand what the Walmart marketplace is all about, and make sure you learn why the website has gained popularity recently. Also, learn about the requirements for the Walmart marketplace, submit an application, and wait for approval.
Following approval, begin selling on the Walmart Marketplace and verify your business. Furthermore, decide on your payment method, and lastly, make your shipping conditions clear. For anyone trying to grow their e-commerce business, Walmart Marketplace is a terrific platform. Be aware that the approval process is selective, and sellers with excellent goods and prior marketplace expertise might have a better chance of qualification.
