Walmart believes in working together with its sellers. They recently held a special event called “Let’s Grow!” where they invited some of their most engaged sellers to come together.
This event allowed both Walmart and the sellers to learn from each other and celebrate their joint achievements.
At this seller summit, Walmart unveiled various initiatives aimed at assisting Walmart sellers in reaching a broader customer base, capitalizing on the advantages of their versatile sales channels, and ensuring a successful holiday selling season.
Manish Joneja, the Senior Vice President of Walmart Marketplace and Walmart Fulfillment Services, provided further insights into the event and their strategy to empower Walmart sellers.
Let’s explore eight powerful initiatives Walmart Marketplace took in the first-ever Seller Summit 2023 to simplify buying and selling on Walmart.
1. Brand Shops and Brand Shelves
Walmart is introducing “Brand Shops” and “Brand Shelves” to help brands and sellers on their platform.
Brand Shops are like special online stores where brands can quickly and easily set up pages to show off their products. It’s like having your own section in a big mall where you can arrange things the way you want.
Brand Shelves are like special displays you might see in a store for a special event or season. Brands can create these displays to highlight products, like back-to-school items or holiday gifts.
These new features give brands and sellers more ways to show off their products and make their online stores look great.
2. Local Pickup and Delivery
Walmart is taking a significant step forward by introducing local pickup and delivery options for physical store sellers. Customers can collect their purchases directly from your store or enjoy the convenience of same-day delivery through Walmart’s efficient last-mile delivery network.
With this new feature, customers can browse your unique collection online, place an order, and then swing by your store to pick up their items at their convenience. Alternatively, they can opt for the ultimate convenience of having their purchases swiftly delivered to their doorstep on the same day.
This move by Walmart is a win-win for both sellers and customers. Sellers can benefit from increased foot traffic to their physical locations and reduced fulfillment costs compared to nationwide shipping.
On the flip side, customers can choose how they want to receive their orders, whether it’s instant gratification with in-store pickup at Walmart or the convenience of doorstep delivery. It’s all about offering options and catering to diverse customer preferences, ultimately contributing to higher satisfaction and loyalty.
3. Walmart Fulfillment Services (WFS) for Big and Bulky Items
Walmart is expanding the scope of its Fulfillment Services (WFS) to encompass more oversized, bulkier items. This development means that sellers who list substantial products like canoes or trampolines can now leverage Walmart’s cost-effective end-to-end fulfillment solution.
Suppose you’re a seller offering a range of outdoor equipment, including kayaks and paddleboards. With this enhancement to WFS, you can now tap into this service to efficiently manage these sizable items’ storage, packing, and shipping. Walmart’s expertise in fulfillment ensures that even large products reach customers promptly and intact.
This expansion of WFS is a significant boon for both sellers and customers. Sellers dealing in big and bulky merchandise can benefit from Walmart’s logistical capabilities, reducing the complexities and costs of handling such items. It streamlines the fulfillment process, allowing sellers to focus more on their core business.
From a customer perspective, it means faster, more reliable delivery of substantial items.
It’s about providing comprehensive eCommerce fulfillment solutions catering to a broader range of products, ultimately benefiting sellers and customers alike. So, if you’re a seller with sizable items in your inventory, this expansion of WFS opens up new possibilities for seamless and cost-effective order fulfillment.
4. WFS for Multi-Box Shipments
Walmart is introducing a convenient solution for eCommerce sellers who deal with products requiring multiple boxes for shipping, like patio sets. Soon, these sellers can use Walmart Fulfillment Services (WFS) for these multi-box shipments.
Imagine you’re a seller specializing in outdoor furniture. You offer a beautiful patio set with a table, chairs, and accessories. Typically, this set might require several boxes for safe and secure delivery to the customer. With the upcoming expansion of WFS, you can enlist Walmart’s expertise in handling and shipping these multi-box orders.
Sellers benefit from a streamlined and efficient fulfillment process, allowing them to focus on their business’s core aspects. On the other hand, customers receive their orders promptly and in good condition.
Additionally, the ‘Fulfilled by Walmart’ tag carries a certain level of trust and reliability in customers’ eyes. When more items, including multi-box shipments, bear this tag, it instills confidence in shoppers, potentially driving higher conversion rates. Customers are more likely to complete their purchase knowing that Walmart handles the fulfillment, ensuring a smooth and dependable delivery.
As a seller, this expansion opens up opportunities to leverage Walmart’s fulfillment capabilities, particularly for items that traditionally require multi-box shipments.
5. Expanding to Chile
Walmart is expanding its global marketplace by welcoming eligible cross-border sellers to its platform in Chile. This is an exciting development as Walmart continues to broaden its international reach beyond its established markets in Canada, Mexico, and the United States.
Suppose you’re a seller offering unique, handcrafted jewelry. Currently, you’re successfully selling on Walmart in the United States. With this expansion into Chile, you’ll now have the opportunity to introduce your exquisite jewelry to an entirely new customer base in South America. This means more exposure and potential sales for your business.
Walmart’s move into the Chilean market signifies its commitment to offering a diverse range of products to customers across the globe. This expansion unlocks access to a fresh audience and market for eligible sellers, potentially leading to increased sales and brand recognition. It also supports Walmart’s vision of creating a thriving and interconnected global marketplace.
Furthermore, by encouraging cross-border selling, Walmart fosters healthy competition and diversity in its marketplace. This variety benefits customers as they gain access to a wider array of products, including unique offerings from around the world.
6. Peak Season Storage Fee Waiver
Walmart is offering sellers a valuable opportunity to avoid peak season storage fees within their Walmart Fulfillment Services (WFS). Typically, during the busiest shopping season, which spans from October 1st to December 31st, sellers might face additional storage fees of $1.50 per unit for items stored beyond 30 days.
Imagine you’re a seller with a line of winter clothing, and you’ve chosen to use Walmart Fulfillment Services to store your inventory. With the holiday season approaching, your winter jackets and scarves are in high demand. You’ll avoid these extra storage fees by ensuring all your winter stock is inbounded into WFS before October 1st. This means you can keep your costs predictable and manageable during the year’s busiest shopping period.
Walmart’s decision to waive peak season storage fees clearly demonstrates its commitment to supporting sellers, particularly during the Q4 holiday season. For sellers, this means more control over their costs and better profitability when fulfilling customer orders. It’s a win-win situation where sellers can maintain competitive pricing while providing excellent customer service.
This initiative aligns with Walmart’s dedication to seller success and understanding the challenges sellers face during peak shopping times.
7. B2B and Refurbished Sellers
Walmart is opening up exciting new opportunities for B2B and refurbished sellers, recognizing the increasing demand for these segments. With the introduction of Walmart Business and the launch of Walmart Restored Premium, sellers now have the means to expand their reach and tap into these thriving markets.
1. Walmart Business Channel: Imagine you sell things not to regular customers but to other businesses. Walmart has made a unique space for sellers like you called “Walmart Business.” It’s like a club where businesses can buy from other businesses. So, if you sell office supplies, machinery, or other things companies need, this channel lets you reach many potential customers. It’s like having a VIP pass to business deals.
2. Walmart Restored Premium: Have you ever fixed up old stuff and made it work like new? Walmart has noticed that people love items like that. They’ve started something called “Walmart Restored Premium,” just for sellers who make old things awesome again. So, if you refurbish electronics, appliances, or other stuff, you can sell them on Walmart’s platform. People who want to save money and help the planet by buying fixed-up items will love what you offer.
These new opportunities from Walmart show how they care about helping sellers like you grow and find new customers. If you’re a B2B seller or work with refurbished goods, reaching out to Walmart could be a smart move to expand your business, sell more, and succeed in online shopping.
8. Enhanced Advertising Options
Walmart is introducing exciting ways for sellers to make their products more visible to shoppers. Here’s what they’re offering in simpler terms:
1. Sponsored Videos: Imagine when you search for something, like a new phone, you see a short video about it right at the top of the search results. This video tells you more about the phone, its looks, and what it can do. Sellers can now use these videos to show off their products to shoppers. It’s like when you watch a trailer for a movie to decide if you want to see it. These videos help products stand out and tell a story through pictures and sounds.
2. Onsite Display Ads: You know when you visit a website and see colorful ads on the sides or top? Those are like billboards on the internet. Walmart is letting sellers put these eye-catching ads on their website. When browsing, shoppers might see and click on your ad to learn more about your products. It’s like putting up a big sign on a busy street to get people’s attention.
These new options from Walmart help sellers make their products shine and be more memorable to shoppers. It’s like having a special spotlight on your items in a big store, making it easier for people to find and buy what you’re selling on Walmart.
Wrap-UP
The Let’s Grow 2023 Seller Summit is a testament to Walmart’s commitment to fostering collaboration and innovation within its seller community. These initiatives empower sellers with valuable tools and resources and enhance the overall shopping experience for Walmart customers. As the retail landscape continues to evolve, Walmart remains at the forefront, driving positive change and opportunities for its sellers.
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