The e-commerce landscape is rapidly evolving, so you must be ready to adapt to shifting customer needs and demands.
Case in point—adapting was something Walmart excelled at. The retail powerhouse launched Walmart Marketplace in 2009, creating an e-commerce platform for independent sellers to bring their products closer to Walmart’s 240 million weekly visitors. Since then, it has become a dynamic ecosystem connecting retailers, entrepreneurs, and customers across several countries.
Are you interested in jumping on the opportunity to tap into Walmart’s growing market? This infographic presents critical strategies for leveraging Walmart Marketplace to boost sales, among other helpful information. But first, let us discuss some essential metrics to help you decide if this e-commerce platform can help your business.
Leveraging Walmart Marketplace: 3 Key Figures
Learning the following figures enables you to optimize strategies and maximize growth on Walmart Marketplace.
1. Referral fees
Unlike other online selling platforms, Walmart Marketplace does not charge a listing fee. Instead, its business model revolves around a referral fee for each purchase, ranging from 8% to 15% of the sale price, depending on its product category. You will have to take it into account when pricing your goods.
2. Performance metrics
As a seller, you will have access to the following key performance indicators (KPIs) of your service quality on Walmart Marketplace:
- Order defect rate (ODR): It refers to the number of delivered products with at least one defect, divided by your total number of orders. Maintain an ODR of at most 2% to meet minimum seller performance standards.
- On-time shipment rate: This KPI refers to how well you have met Walmart’s expected ship dates. You should have an ODR of over 99% to remain competitive.
- Valid tracking rate: Providing and updating a valid tracking number to maintain accuracy is crucial to keeping your Walmart Marketplace seller scorecard high. Similar to on-time shipping rates, you must hit this metric every time.
3. Order returns
Receiving return requests because of an inaccurate product or delivery is a defect on your scorecard. You must keep this figure below 6%, or you might start projecting poor performance and receive penalties.
Leverage the Opportunities of Walmart Marketplace
Familiarize yourself with the above figures to navigate and thrive in Walmart Marketplace long-term. In turn, you can set your brand up for success and capitalize on the platform’s vast opportunities. Check out the Walmart seller guide below for more detailed information and boost your e-commerce sales today!
Infographic by beBOLD Digital