Walmart Seller Summit 2024: Insights

This week, Walmart hosted its second annual Marketplace Summit in San Francisco, CA. As this marks only the second year that the marketplace has hosted this event, yet presenters have praised the significant growth observed in recent years. Walmart, in particular, proudly asserts its position as the leading omnichannel retailer, not only in the US but globally.

Throughout the summit, Walmart's commitment to establishing itself as the preferred online shopping destination was clear. The company highlighted its focus on seller satisfaction, profitability, and user-friendliness, with trust and efficient shipping as key elements of its strategy.

Summary :

• Premium Beauty on Walmart Marketplace and Resold at Walmart for resellers, plus an expansion of our growing Collectibles business.

• Walmart Multichannel Solutions, which allows sellers to fulfill orders from any eCommerce site through Walmart Fulfillment Services.

• Walmart Cross Border, a new service that moves sellers’ merchandise from manufacturers abroad to customers here in the U.S.

• Walmart Local Finds, a new way for sellers to offer in-store pickup and same day delivery from their physical stores.

• New Global Seller Center and mobile app that make it easier for you to list items across markets and manage your business on the go.

BIG Announcements :

Fashion, Home & Beauty in Focus and New Marketplace Opportunities

Walmart is placing increased emphasis on key categories such as fashion, home, and beauty, with a particular focus on premium beauty brands. New initiatives, such as the "Walmart Restore" program offering refurbished products and events like "Collector Con" targeting the growing collectibles market, are generating new opportunities for sellers to connect with customers.

Expanding Walmart’s International Marketplace

Darren Carithers, Senior Vice President of International Marketplace and Fulfillment Services, announced major enhancements to Walmart's international marketplace. New features, such as a streamlined single-login platform and expanded Walmart Connect capabilities, are designed to make it easier for sellers to engage with global customers. Additionally, the launch of Remote Fulfillment across all territories simplifies cross-border operations, offering sellers new opportunities for growth.

Walmart has rolled out a new single login platform with a simple toggle feature, making it easier for sellers to manage their listings across different regions.

Future of Walmart Fulfillment Services

Jare' Buckley-Cox, Vice President of Walmart Fulfillment Services (WFS), provided an in-depth update on the growth and future plans for WFS.

Cox reflected on the development of WFS, noting that it was launched just five years ago and has since become a crucial part of Walmart’s marketplace strategy. Currently, two-thirds of Walmart sellers are using WFS, attracted by its competitive rates and efficiency. In 2023 alone, WFS delivered 4.4 billion items, demonstrating its scale and effectiveness.

To accommodate this growth, Walmart has opened two state-of-the-art fulfillment centres and plans to open a third in Los Angeles. These expansions have doubled the capacity and increased the daily order fulfillment.

Looking forward, Buckley-Cox outlined several upcoming innovations:

• Merchant Fulfillment: Walmart is introducing a new program called Multichannel Solutions, which will offer merchant fulfillment services at rates 15% lower than competitors. This off-site fulfillment option is set to launch on September 10, just in time for the holiday season.

• Walmart Cross-Border Program: This new program will enable sellers to ship products directly from manufacturing sites to Walmart fulfillment centers, similar to Amazon's Global Logistics program. Initially, this service will be available for full container shipments and will also begin accepting full truckload shipments.

Buckley-Cox also touched on the holiday season, announcing that peak season storage fees will go into effect on September 30. This is seen as a timely advantage for sellers, especially in light of Amazon’s recent fee increases.

Holiday Preparation from Industry Leaders

A panel moderated by Alexandra de Buhr offered valuable insights from CEOs who have effectively scaled their businesses on Walmart's platform.

The discussion addressed various topics, including inventory management and advertising strategies, with a strong emphasis on the value of data-driven decision-making and proactive communication with Walmart’s team.

As the holiday season approaches, the panel underscored the importance of thorough preparation, particularly in managing logistics and inventory. Walmart Fulfillment Services (WFS) was praised for its role in assisting sellers with holiday demand, emphasizing its critical role in scaling operations during peak periods.