How to Set Up a Walmart Dropshipping Business
You may have noticed that some online Walmart items are not shipped by Walmart but by another vendor altogether. Walmart’s website is a strong part of the company’s overall success, but their Walmart Marketplace option allows third-party sellers to get in on the profits. Walmart Marketplace officially launched in 2009 and Walmart dropshipping sales were part of the 79% e-commerce growth in 2020.
While Amazon still has the #1 spot in the online marketplace world, Walmart is not too far behind. In fact, more and more vendors are jumping on the bandwagon that comes with Walmart’s powerful financial pull. The National Retail Federation reported that Walmart is the #1 international retailer with over $120 billion in revenue during 2020. The combination of Walmart’s physical presence in many communities and its ability to create sales online contribute to their overwhelming and continued success.
Investors take notice of numbers like that, resulting in a new opportunity for those wanting to make passive income online using Walmart’s brand awareness and strong history. Setting up a Walmart dropshipping business allows investors to use the power of the Walmart brand in providing unique items to customers. Learn more about how to set up a Walmart dropshipping business with these tips.
How to Manage a Walmart Dropshipping Business
Part of any successful business includes great management skills. It is essential to run your Walmart dropshipping business like any other physical or online business out there.
Keep Costs Low
The top priority of business is to make money at the end of the day. While many new companies have start-up costs, the business shouldn’t stay in the red for very long. Keeping costs low is a huge part of making sure that your Walmart dropshipping business remains profitable. Remember that Walmart customers look for deals and that shaving even a few pennies off the total cost of an item can be all the reason a customer completes a sale.
Excellent Customer Service
In our digital world with less physical presence, customer service has become even more crucial than before. Make sure that your Walmart dropshipping business has excellent customer service available 24/7 to customers and your supplier. Responding quickly to customers helps grow your business as well as your ranking on Walmart marketplace.
Manage Your Inventory
The beauty of dropshipping is that you don’t need to have a warehouse full of your product. Managing your inventory for a Walmart dropshipping business has more to do with online software and a direct line to your supplier. Keeping everything up to date, even by the minute, can help you run a smooth and profitable business. Make sure that you have a great relationship with your supplier as well since that could ultimately cause you glitches in inventory and customer service.
Hire a Walmart Dropshipping Automation Service
For those who want to earn income but don’t have the time or desire to run a full-on business, there are automation services that can help. NextGen Strategic Investments offers Walmart automation services that can earn you passive income.
Help Pick the Perfect Product
NextGen can suggest products if you have trouble sourcing your own product for Walmart Marketplace. They have great relationships with third-party suppliers and know what consumers want. Selecting the right product can mean a world of difference for your online business.
Set Up Your Account
Walmart is picky about who they let into their online marketplace. The registration process alone is a bit daunting, with tax registration numbers and official documents needed. NextGen streamlines this process by doing it all for you so that you don’t have to worry about anything.
Customer Service Covered
The experts at NextGen know that quick and courteous customer service is the key to online business. When a customer has an issue, the supplier has a question, or Walmart needs more information, the team at NextGen will handle it. There is no need to worry or have your phone glued to your ear 24/7 to keep your business up and running.
Hiring NextGen Strategic Investments to source your product, register your Walmart marketplace account, and take care of the details is the easiest choice to make in the Walmart dropshipping process. Not only are they a reputable group of online experts, but they understand the world of dropshipping and have had plenty of success with other business owners just like you!
Contact NextGen today for a free phone consultation to see if you are a good fit!