Walmart

入驻前，商家最需要关心的九个维度：

商家速览

The third pole of US e-commerce as a marketplace, with omni-channel + grocery advantages and overall lower fees than Amazon; best for mature cross-border sellers with US warehousing/local fulfillment capability. The ecosystem is still weak.

入驻门槛

Marketplace onboarding is review-based: you need a company business license (a US company or a qualified international company), tax information, and a logistics plan, with a relatively long review cycle; 200K+ sellers in 2025 but a rumored "seller exodus" and quietly adjusted third-party incentive programs (Ecommerce Times). No monthly fee and no per-item fee (threecolts Sept 2025 comparison); international sellers must provide US local fulfillment or use WFS.

费用结构

No subscription/monthly or per-item fees — only category-based referral fees: e.g., apparel (>$20) 15%, computers 6%, musical instruments 12%, printer ink cartridges 12% (threecolts Sept 2025: on par with or lower than Amazon for the same categories); WFS fulfillment fees are significantly lower than FBA in some categories (individual fee items ~80% lower), but FBA is more cost-effective for small items (<$10). Walmart Connect ads are bid-based. For specifics, refer to the official fee schedule.

流量获取

Walmart.com on-site search plus Walmart Connect ads (growing ~6x faster than sales, na_platforms.md); Walmart+ membership and store traffic work together, with store-based fulfillment covering 93% of US households with same-day delivery; the #1 US grocery e-commerce customer base is extending into non-grocery and advertising. Platform effects and seller tools are weaker than Amazon's, organic traffic scale is limited, and sellers must bring price/product-selection advantages.

物流履约

WFS (Walmart Fulfillment Services) handles about 45% of marketplace orders (Q4 FY25); "store-as-warehouse" omni-channel fulfillment (same-day delivery/pickup) is the core differentiator; sellers can also self-fulfill (subject to delivery-time SLAs). Shipping/storage is billed by volume and duration (official Pricing page), with additional fees for Big & Bulky items.

支付与结算

The platform collects payments centrally with USD settlement; sellers link a US bank account or third-party payout services (Payoneer/WorldFirst, etc.); settlement cycles follow platform policy (typically several weeks); fees and ad costs are deducted from settlement.

合规要求

US sales tax is collected by the platform or registered by the seller; products must meet CPSC/CPC and other safety certifications and Walmart's restricted-product policies; WFS items must comply with packaging and dangerous-goods rules; in 2025 Walmart launched AI seller tools and new store-linked regulations (Retail Dive). The platform does not disclose US e-commerce GMV or e-commerce segment profit, so sellers must monitor account health themselves.

主要风险

1) Weak seller ecosystem: the "seller exodus" rumors and incentive-program adjustments undermine the "Amazon alternative" narrative; 2) 3P scale is far smaller than Amazon (3P is only ~10% of e-commerce GMV), with clear gaps in assortment depth and in tools/ads/logistics systems; 3) opaque data: US e-commerce GMV is not disclosed ("~$15B" is only the 3P figure, conflicting with the scale implied by a ~7% share); 4) the balance between e-commerce fulfillment/delivery costs and profitability (continued 1-hour/same-day investment).

适合的卖家

Best for mid-to-large cross-border sellers that already have US warehousing/local delivery capability and sell grocery, home, daily consumer goods, baby products, and apparel, as a lower-fee supplementary channel outside Amazon; grocery supply-chain sellers have a natural edge. Not suitable for small new sellers without a US fulfillment plan who want rapid volume, nor for brands that need rich seller tools/ad ecosystems.

信息来源

research/sections/na_platforms.md; 各地区电商平台Top5深度研究报告.md 第2章; https://threecolts.university/blog/walmart-vs-amazon-seller-fees; https://docs.m2ecloud.com/docs/walmart-seller-fees-explained/; https://ecommerce-times.com/walmart-marketplaces-rumored-seller-exodus-is-rattling-its-amazon-alternative-pitch/; https://www.businesswire.com/news/home/20250219052528/en/Walmart-reports-strong-revenue-of-4.1-up-5.3-in-constant-currency-cc-with-operating-income-growing-faster-at-8.3-or-9.4-adjusted-cc

Walmart 在 1 个区域的 Top5 平台榜单中出现：北美。

• 北美 North America（#3）：全渠道+杂货电商美国第一；Walmart+ 会员；WFS 履约

每条数据取自对应区域的 Top5 平台报告与来源审计，未跨区域折算或估算新数字：