At its “Let's Grow! 2024 Walmart Marketplace Seller Summit” held this week, Walmart announced several major developments that will help it continue to dominate the retail industry.
“At Walmart, we are executing on our strategic priorities to be customers' first choice for every product, every day, every season, and Walmart Marketplace is a key component of that mission. We know the importance of a personalized, seamless omnichannel experience, and Walmart continues to evolve our digital and fulfillment capabilities that enhance the overall customer and merchant experience on Walmart.com, including the new categories and features we announced today.”
Tom Ward, executive vice president and chief e-commerce officer, Walmart US (via Walmart)
First, Walmart unveiled a new Premium Beauty section featuring more than 20 new brands. This new segment will feature custom storefronts and curated editorial content to deliver a refined, seamless brand experience. According to the retailer, the expansion of Premium Beauty into the marketplace represents “Walmart's latest evolution as a top beauty destination.”
Additionally, the company has introduced a platform dedicated to second-hand goods, “Resold at Walmart.” The new section features 5 million items from over 1,700 sellers, offering customers “the value they expect from Walmart” on a wide range of products, from high-end fashion and electronics to collectibles and sporting goods.
The new CollectorShop platform allows sellers to market collectibles such as toys, trading cards, comics, etc. Sellers can also offer special reservations for items, including Walmart exclusives, and share condition ratings for pre-owned collectibles.
Walmart also announced at the event that it is improving its omnichannel integration, including new services for tire retailers: Customers can order tires online from Marketplace retailers and have them delivered and installed at one of 2,300 Walmart Supercenters. Additionally, more than 4,600 Walmart stores nationwide will now accept returns from Marketplace.
Additionally, Walmart is enhancing its fulfillment solutions with multi-channel logistics, allowing merchants to fulfill orders from any e-commerce site through Walmart's supply chain, and cross-border fulfillment to streamline imports from Asia.
In preparation for the holiday season, Walmart is offering several new benefits for its merchants, including an improved global sales center and app, waiver of peak season storage fees for inventory sent to Walmart Fulfillment Services by September 30, expanded access to Walmart Marketplace Capital for cash advances of up to $5 million, and a new trade dashboard to manage holiday promotions.
The retail giant said Walmart Marketplace has seen sales growth of more than 30 percent each of the past four quarters. Global e-commerce sales exceeded $100 billion last year, and its U.S. e-commerce business has achieved double-digit growth for six consecutive quarters. Additionally, the number of independent sellers on Walmart.com grew 20 percent last year.
“Merchant's are looking for smart paths to growth,” said Manish Joneja, senior vice president of Walmart Marketplace and Walmart Fulfillment Services. “We're bringing all the pieces together to be more than just a marketplace, and we're investing in new ways for merchants to serve their customers as we grow together.”
Nasdaq noted that Walmart recently raised its full-year sales forecast as consumers buy essentials and look for deals while cutting back on spending in other areas. Additionally, general merchandise sales, which account for 26% of Walmart's total sales, increased after 11 consecutive quarters of declines.
Financial writer Tony D'Altorio said, “I think Walmart is gaining market share not just in groceries but in general merchandise as its online marketplace grows rapidly (including the rise of third-party sellers).”