The U.S. e-commerce landscape has experienced significant growth over the past decade, with online sales accounting for 16.2% of total retail sales in the third quarter of 2024. This upward trend is expected to continue, with projections indicating that U.S. e-commerce revenue will reach $1.2 trillion in 2024 and grow to $1.8 trillion by 2029.
In terms of market share, Amazon leads with approximately 37.6%, followed by Walmart at 6.4%, and Apple at 3.6%.
Walmart’s position as the second-largest online retailer underscores its growing influence in the e-commerce sector.
Walmart has been making strategic investments to enhance its e-commerce capabilities, resulting in a 27% increase in online sales in a recent quarter. The company is projected to generate $100 billion in e-commerce sales in 2024.
Additionally, Walmart’s marketplace has expanded significantly, doubling in size over an 18-month period to reach 100,000 active sellers.
Looking ahead, Walmart aims for a 4% annual sales growth over the next five years, which would add more than $130 billion to its current sales of approximately $600 billion.
This growth trajectory presents substantial opportunities for sellers considering the Walmart Marketplace.
To begin selling on Walmart Marketplace, sellers must meet specific criteria, including:
- U.S. Business Tax ID: A valid U.S. Business Tax Identification Number is required.
- W-9 or W-8 Form: Completion of the appropriate tax form is necessary.
- EIN Verification Letter: An Employer Identification Number (EIN) verification letter from the Department of Treasury is needed.
- Product Catalog: A comprehensive product catalog with UPC or GTIN codes is essential.
- Compliance with Walmart Policies: Adherence to Walmart’s Retailer Agreement and policies is mandatory.
Once approved, sellers can list products on the Walmart Seller Center dashboard by following these steps:
- Log In: Access the Walmart Seller Center with your credentials.
- Add New Item: Navigate to the “Items” section and select “Add New Item.”
- Enter Product Details: Provide detailed information, including title, description, pricing, and images.
- Set Shipping Options: Define shipping methods and rates.
- Publish: Review the information and publish the listing.
Managing a Walmart Marketplace store
Managing a Walmart Marketplace store involves various tasks, such as store design, Walmart product listing, and optimization. Potential Digital offers end-to-end management services to assist sellers in these areas, ensuring a professional and efficient online presence.
Outsourcing product upload and management tasks
Outsourcing eCommerce product upload and management tasks to an agency can save time and resources, allowing sellers to focus on core business activities. Agencies like Potential Digital have the expertise to handle these tasks efficiently, ensuring that product listings are optimized for visibility and sales performance.
In conclusion, the Walmart Marketplace offers a promising platform for sellers aiming to expand their online presence. By understanding the marketplace dynamics, meeting the necessary requirements, and effectively managing product listings—potentially with the assistance of specialized agencies—sellers can capitalize on the opportunities presented by Walmart’s growing e-commerce ecosystem.
