Podcast Summary: The CPG Guys – Live from Walmart Marketplace Seller Summit with Walmart’s Mike Mosser

Podcast Information:

• Title: The CPG Guys
• Hosts/Authors: Peter V.S. Bond & Sri Rajagopalan
• Episode: Live from Walmart Marketplace Seller Summit with Walmart’s Mike Mosser
• Release Date: December 4, 2024

Introduction

In this dynamic episode of The CPG Guys, hosts Peter V.S. Bond and Sri Rajagopalan delve into the intricacies of the Walmart Marketplace, featuring an exclusive live recording from the 2024 Walmart Seller Summit. The episode offers listeners an in-depth conversation with Michael Mosser, Vice President of Categories for Walmart Marketplace, alongside insights from successful third-party sellers, Charles Leslie of Side Hustle Network and Sarah Ray of Arbitrage Avenue. The discussion centers around strategies for success, leveraging Walmart’s tools, and the importance of community among sellers.

Interview with Michael Mosser: Leadership and Strategy at Walmart Marketplace

[03:18] Brian Guildenberg: Michael, it's a pleasure to have you on the show amidst the bustling Seller Summit. Your journey from a transactional lawyer in the entertainment industry to leading categories at Walmart Marketplace is fascinating. Can you walk us through this transition?

[03:46] Michael Mosser: "I began my career as an in-house transactional lawyer in the entertainment industry before transitioning to business development at HSN, followed by roles at eBay. My interest in Walmart’s innovative approaches and marketplace growth led me to join the team, where I’m excited to contribute to our expansion and customer satisfaction." (03:46)

Key Insights:

• Collaboration Between 1P and 3P: Michael emphasizes the synergy between first-party (1P) and third-party (3P) sellers, aiming to provide customers with a comprehensive assortment of products. "We work very closely... it's a critical partnership between 1P and 3P." (05:03)

• Assortment Strategy: Walmart’s category teams collaborate to ensure timely sourcing and availability of in-demand products, aligning with cultural moments and customer needs.

• Marketplace as the Lifeblood: Unlike traditional inventory models, Walmart Marketplace relies on 3P sellers for inventory, fostering a diverse and dynamic product selection without the burden of purchasing inventory directly.

[06:41] Brian Guildenberg: The CPG Guys believe the third-party marketplace is crucial for growth, especially for brands navigating inflationary challenges. What tactics do you recommend for sellers to achieve five-star status and scale their businesses?

[07:06] Michael Mosser: "Ensure your listings adhere to best practices, including high-quality content, competitive pricing, positive ratings, and fast shipping. Leveraging tools like Walmart Connect can significantly enhance visibility and drive sales." (07:06)

Key Strategies for Sellers:

1. Optimized Listings: High-quality product listings with accurate descriptions, competitive pricing, and excellent visuals are fundamental.
2. Visibility Opportunities: Participating in events (e.g., Holiday sales), flash deals, and utilizing Walmart Connect for advertising can boost product visibility.
3. Walmart Connect: A vital tool for sellers to increase discoverability, especially for new or non-peak period items. "Walmart Connect can play a critical role in driving discoverability and visibility for sellers' items." (08:09)

[09:06] Brian Guildenberg: How do you quantify success on the marketplace, and what metrics do you provide to sellers to help them focus on the right areas?

[09:49] Michael Mosser: "Success varies for each seller, but fundamentally, it's about providing a frictionless platform that fosters growth and customer satisfaction. We offer metrics on listing quality, assortment trends, and customer demand to guide sellers in optimizing their strategies." (09:49)

Success Metrics Highlighted:

• Listing Quality Scores: Assessing how well listings meet Walmart’s standards.
• Customer Demand Insights: Providing data on trending products and customer preferences.
• Partnership and Support: Ongoing collaboration with account managers to align strategies and investment plans.

[12:12] Brian Guildenberg: Let's discuss Walmart Fulfillment Services (WFS). How does your team integrate with WFS, and what role does it play in seller development?

[13:01] Michael Mosser: "Walmart Fulfillment Services offers competitive rates and efficient shipping solutions, enhancing customer satisfaction through faster delivery. Our close partnership ensures that sellers can seamlessly integrate WFS to optimize their supply chain and focus on scaling their business." (13:01)

Key Points on WFS:

• Cost-Effectiveness: WFS rates are approximately 15% lower than competitors, making it an attractive option for sellers.
• Enhanced Customer Experience: Faster shipping (e.g., two-day delivery) improves conversion rates.
• Integrated Support: Joint account planning between WFS and Marketplace teams facilitates tailored fulfillment strategies for sellers.

[15:18] Michael Mosser: "Creating opportunities on our platform allows sellers to realize their business ambitions and reach a vast customer base, with over 255 million shoppers weekly across Walmart’s online and physical stores." (15:18)

Insights from Successful Sellers: Charles Leslie and Sarah Ray

Interview with Charles Leslie – Side Hustle Network

[16:48] Charles Leslie: Our journey began with a desire for flexibility outside our full-time careers. Starting with platforms like eBay, we discovered the potential of online selling and eventually focused on Walmart Marketplace. "We're now full-time sellers, heavily invested in Walmart, which has been instrumental in our growth over the past nine years." (16:48)

Success Strategies:

• Product Selection: Focus on high-demand, repeat purchase items such as personal care and consumables to ensure consistent sales and customer return rates.
• Fulfillment Choices: Balancing between seller-fulfilled orders and Walmart Fulfillment Services based on product turnover and personal capacity.
• Leveraging Personal Networks: Utilizing unique resources, including family involvement, to streamline order processing and fulfillment.

[23:00] Charles Leslie: "I recommend using Walmart Fulfillment Services to minimize hands-on management and improve efficiency, especially as your business scales." (23:28)

Interview with Sarah Ray – Arbitrage Avenue

[17:46] Sarah Ray: Transitioning to a stay-at-home mom, I sought a flexible income source through online selling. Embracing platforms like Walmart Marketplace three years ago, I’ve expanded significantly, particularly after integrating Walmart Connect into my strategy. "Walmart Connect has introduced new tools that are poised to increase my sales even further." (25:02)

Key Strategies:

• Community Building: Creating a supportive network with other sellers to share insights, trends, and strategies.
• Social Media Utilization: Leveraging platforms like Instagram and TikTok to stay ahead of trends, connect with customers, and drive sales.
• Customer-Centric Approach: Prioritizing prompt communication, fast shipping, and efficient returns to enhance customer satisfaction and loyalty.

[19:50] Sarah Ray: "Social media connects us with both customers and fellow sellers, allowing us to stay current with trends and support each other’s growth." (19:50)

[30:37] Sarah Ray: "Being customer-driven by responding promptly to messages, handling returns efficiently, and ensuring fast shipping has been pivotal in achieving elite seller status." (30:37)

Community and Collaboration: The Cornerstones of Success

Both Charles and Sarah highlight the importance of community and collaboration among sellers on Walmart Marketplace. By sharing data, trends, and best practices, they collectively overcome challenges and accelerate growth.

Charles Leslie: "When sellers come together to share what works and what doesn’t, everyone benefits by saving time and avoiding common pitfalls." (29:48)

Sarah Ray: "Our community allows us to share valuable insights and support each other, leading to mutual success." (29:39)

Conclusion

This episode of The CPG Guys offers a comprehensive look into the strategies that drive success on Walmart Marketplace. From Michael Mosser’s insights on leveraging Walmart’s tools and forming strategic partnerships, to the practical experiences of sellers like Charles Leslie and Sarah Ray, listeners gain valuable perspectives on optimizing their eCommerce endeavors. Emphasizing the significance of high-quality listings, effective fulfillment solutions, and a strong community, the episode serves as an essential guide for brands and retailers aiming to thrive in the ever-evolving digital marketplace.

Notable Quotes:

• Michael Mosser: "Walmart Marketplace is their marketplace of choice. Helping sellers fulfill their ambitions is what success means to us." ([09:49])
• Charles Leslie: "Looking for products that are actually moving quickly is always number one." ([24:36])
• Sarah Ray: "Social media connects us with both customers and fellow sellers, allowing us to stay current with trends and support each other’s growth." ([19:50])

Disclaimer: The content in this summary is based on the provided transcript and aims to encapsulate the key discussions and insights shared during the podcast episode. For a complete understanding, listening to the full episode is recommended.