Walmart Marketplace unveils major expansion and new features for sellers

On August 27, 2024, just over a week ago, Walmart made several significant announcements at its Let's Grow! 2024 Walmart Marketplace Seller Summit in San Francisco. The retail giant unveiled a range of initiatives aimed at expanding its online marketplace, enhancing fulfillment capabilities, and introducing new features to simplify cross-market selling.

Walmart Marketplace, recognized as one of the fastest-growing eCommerce platforms, has demonstrated impressive growth. According to the company, it has achieved over 30% sales growth in each of the past four quarters. This growth has played a crucial role in Walmart's overall eCommerce success, with global eCommerce sales surpassing $100 billion in the previous year. The U.S. eCommerce business, in particular, has delivered double-digit growth for six consecutive quarters.

The sustained momentum is attributed to innovative customer experiences and an expanding omnichannel assortment. This expansion is driven by an increasing number of independent sellers choosing Walmart as their growth platform. In the last fiscal year, the number of sellers listing items on Walmart.com grew by 20%.

To offer more selection for customers and create new opportunities for sellers, Walmart is expanding its Marketplace assortment in several key areas. One of the most notable additions is the introduction of Premium Beauty on Walmart Marketplace. This new online experience will feature more than 20 new brands, including COSRX, T3, and Beachwaver. The initial assortment focuses on skin care, hair care, and hair tool products, presented through custom storefronts and editorial content.

Another significant expansion is the introduction of Resold at Walmart, the company's first digital destination for cross-category and cross-condition pre-owned items. This new section boasts an impressive five million items from over 1,700 sellers, offering a diverse selection of goods ranging from luxury fashion and electronics to collectibles and sporting goods. This initiative aligns with Walmart's commitment to sustainability by extending the life of products.

The Collectibles category is also receiving a boost. Walmart is enhancing experiences for collectors by introducing new features such as preorders for highly sought-after items and exclusive releases. The Collector shop now includes pre-owned conditions for collectibles under the Resold at Walmart banner. To incentivize sellers, Walmart is offering 0% commission fees for collectibles and related categories through October 31, 2024.

Walmart is leveraging its extensive physical presence to create unique omnichannel experiences. Earlier this year, the company connected Marketplace tire sellers with its Auto Care Centers at 2,300 Walmart Supercenters. This integration allows customers to order eligible tires from sellers online and have them shipped to a local Supercenter for installation. Additionally, more than 4,600 Walmart stores nationwide now accept Marketplace returns.

A new initiative called Walmart LocalFinds was previewed at the summit. This program aims to bridge the gap between online and offline shopping by enabling direct pickup and delivery from sellers' physical stores. Walmart LocalFinds will launch this fall in Atlanta and Dallas, with plans to expand to other cities. 1-800-Flowers.com Inc. is the first nationwide seller to participate, offering hundreds of local stores the opportunity to join as the program rolls out.

Fulfillment services are also receiving significant upgrades. Walmart Fulfillment Services (WFS) announced new solutions to help sellers move merchandise across markets and fulfill orders from any eCommerce site. The Multichannel Solutions program, launching on September 10, 2024, allows sellers to use WFS to fulfill orders from any eCommerce site via Walmart's supply chain. This service includes order fulfillment, returns management, and competitive rates averaging 15% lower than competitors.

For international sellers, Walmart introduced the Cross Border import service for full-container-load shipments. This service handles the transportation of inbound goods from ports of origin in Asia directly to WFS facilities across the U.S. Additionally, Walmart is opening its carrier network to sellers for full truckload shipments through the Walmart Preferred Carrier program.

To support sellers during the upcoming holiday season, Walmart announced several new features and incentives:

1. A redesigned Global Seller Center and new app for seamless onboarding of eligible sellers in any market.
2. Waived peak season storage fees for sellers who inbound their inventory to WFS fulfillment centers through September 30, 2024.
3. Expansion of Walmart Marketplace Capital to offer qualified sellers access to cash advances of up to $5 million.
4. A new Deals Dashboard to simplify seller participation in Walmart's popular deals events.

These initiatives reflect Walmart's ongoing efforts to enhance its digital and fulfillment capabilities. Tom Ward, executive vice president and chief eCommerce officer for Walmart U.S., emphasized the importance of personalized, seamless omnichannel experiences in the company's mission to become the customers' first choice for every item, every day, and every season.

Manish Joneja, senior vice president of Walmart Marketplace and Walmart Fulfillment Services, stated that these new features and expansions are designed to offer sellers a smart path for growth, positioning Walmart as much more than just a marketplace.

Key facts

Announcement date: August 27, 2024

Walmart Marketplace growth: Over 30% sales growth in each of the past four quarters

Global eCommerce sales: Surpassed $100 billion last year

U.S. eCommerce growth: Double-digit growth for six consecutive quarters

Seller growth: 20% increase in the number of sellers listing items on Walmart.com last fiscal year

New Premium Beauty brands: Over 20, including COSRX, T3, and Beachwaver

Resold at Walmart: 5 million items from more than 1,700 sellers

Walmart Auto Care Centers: 2,300 locations now connected with Marketplace tire sellers

Walmart stores accepting Marketplace returns: Over 4,600

Walmart LocalFinds launch: Fall 2024 in Atlanta and Dallas

Multichannel Solutions program launch date: September 10, 2024

Maximum cash advance for qualified sellers: Up to $5 million

Peak season storage fee waiver deadline: September 30, 2024