Tambo Attends Walmart's Global Seller Summit

On Friday June 17th, Tambo attended Walmart's Global Seller Summit, an opportunity for UK based eCommerce sellers to explore how to grow their business as part of Walmart Marketplace.

Organised by Walmart and powered by Payoneer and Linnworks, the event was the first of its kind in the UK to offer insights from global industry leaders and introduce the Walmart programmes, tools, and newly available support to help UK sellers succeed as part of the curated Marketplace community and reach a growing market of more than 120 million US consumers each month.

We learned that Walmart's Marketplace is a top priority within their business, and they aim to offer their US customers quality British brands that they know, from search data, they are looking for. They believe that culturally, the UK and US are similar, and that products that do well in UK, are likely to do well in the US.

Here are some of the key stats and learnings from Friday's summit:

• 89% of Americans shopped with Walmart in the last year

• Walmart has 120M monthly shoppers

• 90% of their customers use Walmart marketplace

• 76% of US shoppers purchased apparel, footwear and accessories at Walmart (12months ending Sept 21)

• Reviews are as important as they are on any other marketplace. They shared that:

  • 93% of consumers read product reviews before making a purchase

  • Having 1 review = a 10% lift in orders

  • Having 50 reviews = a 30% lift in orders

  • They see a 45% lift in conversion rat on products that have a 4+ star rating and 100 reviews
    

It usually takes around three weeks for set up and onboarding. However, it can be done in a few days if you have all the product information ready or are using an integration partner.

Fees

Regarding fees, these are based on the items weight, and sellers can enjoy reduced rates for inbound shipments to WFS (Walmart Fulfilment Services). On top of this, sellers will incur a monthly storage fee. These fees can be estimated using the WFS calculator.

We are very excited about the prospect of working with brands on Walmart: the set up process seems simple, straightforward and timely, sellers do not require a US entity, and Walmart provide advertising and fulfilment solutions to help accelerate sales and provide quick shipping. Furthermore, Walmart has a huge customer base that brands could tap into and add an additional sales funnel to their retail strategies by expanding into the Northern American market.

If you have any questions or would like to talk to us in more detail about Walmart's advertising offering, logistics or tax solutions, or, you would like more information on getting started on Walmart, get in touch with your Tambo marketplace manager, or our Head of Marketplaces Jen, and we can give you more information and help you get started.