Walmart is an acknowledged leader in providing online services all over the United States. Nowadays, Walmart is the largest retailer in the world which provides different categories of products to both common consumers, and retailer sellers all over the world. Currently, Walmart has more than 110 million active customers who successfully operate on this platform.
It is the exact reason that there are lots of sellers who intend to launch their business on Walmart.
One of the main advantages provided by Walmart is that compared to other markets, it is less competitive. Nowadays, there are more than 33,000 sellers who run their business on Walmart’s marketplace. For comparison, Amazon has nearly 10 million sellers. So, you can confidentially enter this market without being afraid of facing a strong stream of competition.
Today, we are going to bring to your attention several tips which will help you start your business on Walmart. Keep reading our blog and you will find lots of useful information concerning how to run your business on Walmart’s marketplace.
Let’s Start from Choosing the Right Product Category!
One of the first decisions that you have to make when you start selling on Walmart is to choose the right category of products which are going to be popular on this platform. Keep in mind that you are not allowed to sell used, vintage, or handmade items on Walmart. Therefore, before listing your items on Walmart’s marketplace, you should make sure that the products that you are going to sell are completely new.
Your Main Competitors!
Before you start selling on Walmart, you have to conduct a thorough investigation in order to figure out who your main competitors are. Additionally, it will help you understand whether the product that you are going to sell on Walmart is high-demanded among its customers or not. You can read this blog which is a comparison guide of Walmart and Amazon.
Costs of Success!
Walmart provides its sellers with lots of benefits. For example, when you sell on Walmart, there are no monthly or initial set-up fees required. Starting your business on Walmart is completely free. However, you have to pay 6-20% referral fees depending on the certain category of product that you are going to sell on this marketplace.
If you intend to start selling on Walmart, you should keep in mind that Walmart becomes quite strict when it comes to pricing. You should keep in mind that you are responsible for shipping and handling costs; so, you have to set an optimal price in order to cover these costs.
Generally, there are three main ways for starting your business on Walmart: 1P, 3P and DSV. 3P is the best way, since it provides you with full control over your business; therefore, it is the most popular method among Walmart’s sellers.
Nowadays, both big and small sellers successfully run their business on Walmart by selling different categories of products from fashion to electronics. Another advantage provided by Walmart is that you do not need to not put much effort into gaining your potential customers’ attention, since you are provided with a unique opportunity to sell your products to an already-established audience. You can also read this blog which teaches you how to get approved to sell on Walmart.
If you intend to launch your business on Walmart, you have to meet the following requirements.
- Having US Business Tax ID
- W9 or W8 Forms
Our partners at Prestige Auditors can help you acquire these.
If you find Walmart the best way for starting your business, but do not know how to launch this process, then we are here to help you. That’s because our team provides our customers with the following services:
- How to Get Approved to Sell on Walmart
- How to File Walmart Seller Application
- How to o Walmart Drop shipping
You can visit our website where you can find the entire list of services provided by Oceanic Zoo. Additionally, you can find lots of blogs which will help you run your business on a professional level.