How to Market a Product to Walmart
Walmart is one of the most well-known retailers in the world. The company practically invented the superstore, selling everything from pet food to palm trees to manicures and lobsters. Anyone can apply to sell a product and become a supplier for Walmart, but before you apply you need to do your homework. Ask yourself whether your product fills a selling niche that Walmart has, and understand the role of corporate buyer. With patience, hard work and a good selling proposition, yours could be the next product on Walmart's shelves.
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Instructions
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Visit Walmart stores to get a good understanding for what products are already available in your product group and what the average selling price is.
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Obtain a supplier evaluation report with Dun & Bradstreet (D&B). Call 866-815-2749 to speak with a representative that can assist you.
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Request product liability insurance, with a minimum limit of $2 million, from an insurer; be ready to provide this certificate to the Walmart buyer upon request. The following must be listed as Additional Insured & Certificate Holder on the insurance:
Walmart Stores Inc., its subsidiaries & affiliates
Attn: Insurance Compliance
702 SW Eighth St.
Bentonville, AR 72716-0145
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Obtain a bar code from the Uniform Code Council (UCC) (GS1). Walmart will accept the letter sent from the UCC. This letter is sent in with a sample of your product.
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Write down your strategic selling proposition. The selling proposition is the reason why Walmart customers will buy your product. It is the reason why the product will be a success and make Walmart a lot of money for selling it to their customer.
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Complete an online product submission on the Walmart supplier website. See Resources for a link. Once the application is filled out, it will be forwarded to the buyer for your particular product area. You will receive either an email detailing next steps or a rejection letter.
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Send a copy of UPC code letter and product sample(s) the address specified in the email from the buyer. You will also need to provide audited financial statements for your firm. The financial statements must show your company's stability in the marketplace. Walmart will assess your ability to meet buyer demand at quality production levels.
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