According to the U.S. Census Bureau, each year, women-owned businesses in the U.S. generate $1.8 trillion. While this is impressive, there’s significant revenue gaps between these businesses and those not owned by women.
So, how can we help change this? Above all, it’s important to understand how women-owned businesses can thrive in today’s eCommerce landscape. If you’re producing or selling DTC products, continue reading for insight from one of the largest retailers.
Lean into the power of eCommerce
Selling your products online is necessary to help your business reach its full potential and secure a fruitful future. In fact, by 2040, Nasdaq predicts 95% of all purchases will be made online. And, as competition surges, expanding your online footprint and prioritizing an omnichannel strategy are key factors in your growth. As a woman-owned business, consider how to make your products more accessible.
When you join Walmart Marketplace, you can reach millions of new customers via our site and mobile app. However, what will set your products apart is your ability to provide a top-notch shopping experience. At Walmart, Marketplace sellers have access to the tools to help them accomplish this and support their long-term success. Below we will introduce some of these tools and share four eCommerce strategies that successful online sellers use.
Create listings designed to convert
When selling on most online marketplaces, creating high-quality listings is crucial. We recognize knowing how to do this isn’t always straight forward. That’s why we launched the Listing Quality dashboard. It helps remove the guesswork from optimizing product listings and offers recommendations to help you succeed.
The dashboard is free and considers all the factors that go into purchase decisions. It has a powerful algorithm that creates a Listing Quality Score for each listing in your catalog to help maximize your potential.
Stay ahead of the competition across the web
Taking listing optimization further, a product’s price is often a deciding factor for customers. And, since online prices are ever-changing, Walmart shoppers rely on our promise of Every Day Low Prices.
To navigate this, sellers can use our free, automated-pricing tool, Repricer. It’s designed to help sellers manage pricing and stay ahead of the competition. You can even choose from three options to strategize—beat or meet prices on other eCommerce platforms, win the Buy Box on Walmart.com, or a combination of the two.
Leverage a world-class supply chain
Beyond listings and pricing, selling online can create extra pressure to ensure your business runs smoothly and your customers are happy. That’s where a reliable solution for storing, fulfilling, and shipping your products comes into play.
Your supply chain should be affordable not only for you but for your customers too. Walmart Marketplace sellers have the option to enroll in Walmart Fulfillment Services (WFS), a low-cost end-to-end solution. With WFS, sellers can offer their customers two-day shipping, streamline customer returns, and more to improve the customer experience.
Connect meaningfully with your customers
Finally, once you’ve established a strong online presence and fulfillment solution, it’s time to provide your business with ongoing support. One way our sellers drive awareness and demand is with the help of Walmart Connect and Sponsored Products.
With Walmart Connect, you can help position your products to be the first to catch a shopper’s attention when they’re shopping online. And subsequently, with a thoughtful strategy, you can help increase conversion and drive a return on investment.
While there’s much to consider, a reliable eCommerce platform will provide a powerful ecosystem of solutions that support your success every step of the way.