Walmart to fuel its Marketplace accelerated growth through series of new initiatives

Walmart is set to grow its e-commerce Marketplace platform, as it unveiled several new initiatives at the Let’s Grow! 2024 Walmart Marketplace Seller Summit. Key growth areas include category expansion, enhanced multichannel fulfillment, and new features that will make it easier for sellers to sell across several markets.

“We’re executing strategic priorities at Walmart that are helping us to become the customers’ first choice – every day, every season, for every item. Walmart Marketplace is a key component of that mission,” said Tom Ward, executive vice president and chief ecommerce officer at Walmart US, in a statement. “We know the importance of personalized, seamless omnichannel experiences, and Walmart continues to advance its digital and fulfillment capabilities, including the new categories and features we announced today, that enhance the overall customer and seller experience on Walmart.com.”

Playing a key role in Walmart’s ecommerce success, Walmart Marketplace has consistently delivered over 30 percent sales growth each quarter for the past year. Walmart’s global ecommerce sales exceeded 100 billion USD last year, with the US ecommerce segment achieving double-digit growth for six consecutive quarters. The retailer attributes part of this growth to its innovative customer experiences and the expansion of its omnichannel assortment, which has attracted more independent sellers, with the number of sellers on Walmart.com increasing by 20 percent in the last fiscal year.

To better serve its customers and offer more opportunities for sellers, Walmart is expanding its Marketplace assortment with the addition of Premium Beauty and enhancing its range of Collectibles and Pre-owned merchandise.

A new online experience featuring over 20 brands like Cosrx, T3, and Beachwaver, the new Premium Beauty category will be supported by custom storefronts and editorial content. Through this new category launch, Walmart aims to strengthen its position as a top beauty destination, offering customers a trusted and elevated shopping experience through direct and approved sellers.

A first for the retailer, Walmart Marketplace is launching Resold at Walmart, a new online platform for pre-owned items across various categories and conditions. Featuring five million products from over 1,700 performance-managed sellers, the offering spans luxury fashion, electronics, collectibles, and more. By extending product life, Resold at Walmart supports the retailer’s commitment to sustainability, building on the success of Walmart Restored, which offers refurbished electronics and small appliances.

Walmart is also enhancing its collectibles offering by introducing new ways for customers to secure sought-after items and connecting sellers with a growing market of enthusiasts. The Collector shop now allows sellers to enable preorders, including Walmart-exclusive releases and offers pre-owned conditions under Resold at Walmart. Eligible sellers can benefit from 0 percent commission fees on collectibles, such as action figures, trading cards, and more, until October 31.

Some of the other notable initiatives announced at Let’s Grow! 2024 Walmart Marketplace Seller Summit include Walmart LocalFinds and Walmart Fulfillment Services. A new way of connecting customers with local sellers through direct pickup and delivery from nearby stores, Walmart LocalFinds is set to debut this fall in Atlanta and Dallas. Leveraging Walmart’s last-mile delivery network to offer fast, convenient service, the first nationwide participant, 1-800-Flowers.com Inc., will help expand the program to local businesses.

Additionally, Walmart Fulfillment Services (WFS) introduces new solutions for sellers, including the Multichannel Solutions program, which offers competitive rates for fulfillment for any eCommerce order, and Cross-Border Fulfillment, which facilitates the direct import of goods from Asia to WFS facilities across the United States.

“Sellers are looking for a smart path for growth,” said Manish Joneja, senior vice president of Walmart Marketplace and Walmart Fulfillment Services, in a statement. “We’re bringing all the pieces together to be much more than a marketplace and investing in new ways for sellers to serve customers as we grow together.”