Jumping on the Walmart Bandwagon in 2021
January 21, 2021
Shopping in physical stores has been pushed to the brink of demise as a result of the recent COVID-19 outbreak. While online shopping only seems like a temporary measure, we believe it is here to stay even after the pandemic subsides. After all, it is a lot more convenient, and it saves time and money.
As a seller, what this means for you is that unless your business has a digital presence, it doesn’t exist at all. And right now, it so happens that Walmart is the perfect place to establish, re-establish or expand your eCommerce store.
Combined desktop and mobile visits to Walmart.com from May 2019 to September 2020
Walmart has always been a retail giant. Its eCommerce wing has hardly attracted sellers and the might of Amazon and the ease of eBay have been all too prevalent. However, with a 94% spike in sales in the year 2020, Walmart.com has been attracting eCommerce sellers by the dozen.
If you’re planning on jumping the bandwagon this year, here are some things you’ll need to know.
Selling on Walmart in 2021
Let’s talk numbers first. Walmart is expected to grow by 44%. By comparison, Amazon is expected to grow by 1%. Sure, the numbers speak for themselves when it comes to Amazon, but if you’re looking for lesser competition, faster rankings, and an easier selling strategy, Walmart is where you need to be.
Let's be realistic though. Walmart is no Amazon. They may be similar, but Walmart is still decades behind Amazon. Don’t expect to be successful deploying the same Amazon strategies, or the same product positioning.
Don’t dive into the marketplace expecting the same revenues. You will come out disappointed. Instead, discover what works for the marketplace and take advantage of the fact that Walmart is still a gated community. Sellers need to go through a screening process. This makes competition lesser than what you’ve seen on Amazon.
In Walmart’s own words, they want sellers that -
- Fulfill orders quickly and efficiently
- Deliver unparalleled customer service
- Sell unique products
- Offer the best pricing possible
What’s New at Walmart?
To keep up with the times, Walmart has been experimenting with new offerings of its own. The most groundbreaking announcement has been that of Walmart’s Fulfillment Service offering cheaper, faster, and guaranteed delivery. Taking a leap out of Amazon’s playbook, Walmart is now trying to keep all its newfound traffic with the lure of free 2-day delivery.
Other upgrades include Post Purchase Quality for feedback, Message Alert for effective communication with buyers, and a Listing Quality Dashboard.
How Much Can I Sell on Walmart?
Be realistic. You’re not going to surpass your Amazon sales by selling on Walmart. Walmart does not let 15 different listings of the same product sell alongside either. It will probably give you 15 - 20% of the revenue you make selling on Amazon. But is that all you can expect from the marketplace?
If your product suits the Walmart customer, and you manage to successfully rank your product on Page 1, you can expect close to 40 - 50% of your Amazon sales. Will every seller who joins Walmart get to this magical number?
Walmart may be the next big thing, it may have much lesser competition than Amazon, but it still needs a great deal of work. And a lot of strategies to get to where Amazon is at.
How Can I Become a Successful Seller?
It’s important to note that Walmart is not like other e-commerce stores. It is most certainly not like Amazon. You cannot directly copy your listings on Amazon to Walmart, as the former imports listings utilizing a different setup.
Moreover, when you add your product on Walmart, make sure you optimize your product page for Walmart. Not doing so will hurt your rankings, which in turn will hurt sales. Walmart makes you fight for the buy box too, but it's not always about the price. 2-day shipping, lower cart abandonment rates, and seller rating also affect your buy box.
Here are a few more tips that can help you dominate Walmart.
Focus on that Product Display Page
Like any other marketplace, Walmart wants to ensure a fantastic customer experience. Quality listings, clear images, and detailed and accurate product pages go a long way in ensuring a happy customer.
You need a more informative product page. The better your page, the higher the conversion. Did you know that optimized product pages with high-quality images and infographics can increase conversion by up to 2%?
Use the Listing Quality Dashboard to understand how you can stay ahead of the competition.
Walmart product listing
Convenience Trumps Price
Walmart prides itself on low prices and greater variety. Keep in mind, however, that buyers on Walmart tend to prefer convenience over price.
This means that a buyer cares more about your shipping speed, the quality of your product listing, and the ease of buying your products.
Low prices don’t necessarily convert into more sales. And even if they do, are they more profitable? If you’ve ever gone down the Black Friday discount route, you know that more discounts do not always equal more profits.
66% of buyers choose retailers based on convenience.
Make the process as seamless as possible. Have clear policies in place. Add stunning visuals and infographics. Enroll for 2-day deliveries.
Focus on How to Sell, Not Where to Sell
It's no longer about Walmart, Amazon, eBay, Shopify, Etsy. You need to think of all eCommerce channels in the same light. Build a marketing strategy that addresses all channels.
Use traditional Pay Per Click ads in each marketplace you’re a part of, but don’t forget traditional marketing solutions such as email marketing or modern marketing tactics such as Facebook advertising, influencer marketing, and Tik Tok advertising.
Present a strong presence across platforms so that your audience can connect with your brand every time they’re online irrespective of the channel they’re online on.
What is it Like to Deal with Seller Support on Walmart?
If you’ve sold on Amazon, you probably know that it's easier to talk to your wall than seller support. You realize that you probably have a better chance of explaining something to a 2-year-old than getting your message across to the executive on the other side. Amazon really knows how to frustrate its sellers to no end.
Walmart isn't any better. Hardly anything ever gets accomplished talking to support. We’re still split up about who’s worse.
Let us know in the comments below if you make up your mind.
Hardly anything ever gets accomplished talking to Walmart's support from our experience
Should I Really Be Selling on Walmart?
Short answer. Yes.
Walmart isn’t that new kid on the block that will probably get lost in front of the giants. Yes, it's no Amazon, but it has enough clout to make a difference. Its customers include medium to high-income individuals between the ages of 23 - 38.
That’s always a good thing.
Walmart wants the lowest price online, but it doesn't force you to drop your price till you end up making nothing. You don’t need to compete with 100 sellers selling the same thing.
Is it worth selling on Walmart? Yes.
Is it easy? No.