Selling your products to Walmart – All you need to know in 3 easy steps!
Getting that first purchase order from Walmart can be an amazing thing, as long as you are prepared. Selling to Walmart means having a national presence and increased sales, or lost sleep and a multi billion dollar head ache!
This guide will explain all you need to know about selling your products to Walmart.
Our experts will walk you through:
- Getting prepared to sell to Walmart
- Getting set up as a vendor
- Steps to selling your products to Walmart
- ** BONUS -Selling to Walmart FAQ
Getting prepared to sell to Walmart
First and foremost you must be prepared. Selling to Walmart isn’t a simple phone call or product presentation. There are a number of factors that go into preparing to approach Walmart. Here are a few steps to take to make sure you are prepared to sell to the biggest retailer in the world.
- Which avenue will you take to sell to Walmart? You can choose to sell online, in store, through their marketplace, or as a direct import business.
- Get your insurance certificate. Insurance needs will vary depending on the type of product and which department you will be selling into.
- Get your finances in order. Do you know how much product you can produce with your current working capital? Or, maybe you should find a finance partner to help with purchase order financing and factoring.
- Align yourself with the best suppliers in your industry. When interviewing suppliers ask them if they have worked with Walmart vendors in the past.
Get set up as a Walmart Vendor
Walmart has a very specific onboarding process for new vendors. The application process can sometimes take months to complete, so don’t delay getting started. This process let’s you share all of your information with Walmart, and receive all of the requirements needed to sell your specific products.
The Walmart Vendor onboarding process takes place online. You can visit their corporate supplier page here, https://corporate.walmart.com/suppliers/apply-to-be-a-supplier, and start the process. You will have to choose the type of vendor you want to be. The options are:
- Store, Club or Online – Choose this option if you are selling through the retail stores, club stores, or Walmart.com.
- Marketplace – Selling through Walmart’s 3rd party marketplace is a great place to start. According to Walmart, they see 90 million unique visitors per month!
- Service or Non-Resale – Walmart is also one of the worlds largest users of business services in store, at corporate, or through their warehousing and logistics networks.
Now SELL SELL SELL your product to Walmart
Ok, it’s not THAT easy. Let’s walk through some key efforts in how to get your products noticed by Walmart. It’s certainly no easy task, but selling to Walmart’s over 10,000 stores can be worth the effort. Many companies hire consultants and product reps to help land their products on Walmart shelves.
When selling your products to Walmart the buyers will want to see a few things. First you must be aligned with their customer’s demand. If you are selling a product, make sure it is something that their customers really want. You can demonstrate this demand through your own direct to consumer efforts or perhaps selling to some of their competitors.
Second, you need to make sure your business is already booming on other platforms. Not only does Walmart want to see that you are successful in other channels, they also want you to demonstrate that you can handle their business. Very rarely will Walmart want to be the first major buyer for a new company.
Third, find an easy channel to sell through. Walmart is known for their open castings. Each year they have an annual Made In USA open casting where you can apply to share your products with vendors. You can also find this programs open for other categories and markets as well.
Selling to Walmart FAQ
Can I sell directly to Walmart? – Yes, you can sell your products directly to Walmart. Some companies may find it easier to sell through a rep group or distributor, but you can also sell directly to Walmart online or to their stores.
How much does it cost to sell on Walmart.com? – Walmart does not charge any fees for selling on their platform. However, there are fees based on product sales, but no up front or monthly maintenance charges.
What is Walmart’s top selling item? – Bananas. Due to being highly convenient, full of nutritional value, and very affordable, Walmarts top selling item is Bananas. Walmart sells billions of bananas per year.
Can anyone sell on Walmart.com? – Certain platforms like Amazon, Ebay, Overstock, and others allow all sellers to join their platform. Walmart is a little more selective with the products they allow to be sold on their platform.