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Walmart is significantly expanding its online marketplace to include collectible and in-demand items such as collectible cards, second-hand watches and high-end beauty products as it seeks to compete with rivals eBay and Amazon.com Inc in the e-commerce space.

Tom Ward, Walmart's chief e-commerce officer, said the new categories, which include high-end beauty products, collectibles and other second-hand items, are provided by third-party suppliers. This will help attract more customers and drive business growth.

Ward explained:When customers search for products they are interested in, Walmart can provide not just a few options, but thousands of results. This rich selection of products makes customers feel that there are more possibilities and choices for shopping at Walmart, thus enhancing their interest in shopping on the Walmart platform.”

It is worth mentioning that Walmart’s marketplace platform allows a variety of sellers to sell goods on its website.When customers shop on Walmart.com, they may be buying products offered by third-party sellers, rather than products stocked and sold by Walmart itself. Walmart makes money by providing platform services and other value-added services, such as advertising and product delivery.The expansion of the platform not only increases the variety of goods and price ranges, but also provides the company with an additional source of revenue.

Major retailers have different strategies for developing marketplaces, with Amazon's broad coverage and Target's greater focus on curated merchandise.Specifically, Amazon's marketplace platform has been around for more than two decades and sells a wide variety of products, including second-hand items and collectibles, while Target has taken a more selective and targeted approach, partnering with Shopify to provide customers with a curated selection of goods.

Combination attack: expand product categories, strengthen seller verification, and improve logistics services

Senior Vice President Manish Joneja mentioned that consumers are increasingly looking for refurbished electronics as they seek more sustainable and affordable options. To ensure the credibility of sellers, Walmart plans to take more measures to verify seller information and promote refurbished electronics. At the same time, Walmart will attract collectors by offering pre-order services.

Walmart is also expanding its fulfillment services business, which charges sellers a fee to store and ship products at Walmart's distribution centers. Now, Walmart will allow sellers to ship to customers through its fulfillment services even if the orders come from other websites, and will handle the transportation of goods from Asia to the United States.

In addition, for retailers that rely mainly on physical stores, online platforms allow them to test which products are more popular in the market without taking on a lot of inventory risk. For example, Walmart now sells some high-end brands that it did not usually sell before, such as Cartier and Michael Kors, through its market platform. Among them, Michael Kors handbags became one of the best-selling products during the holiday season last year.

Currently, Walmart's online marketplace has become an important driving force for the company's e-commerce business growth.Walmart Inc. said in August that its online sales in the U.S. grew 22% last quarter. The number of weekly active customers is also increasing, and more consumers are willing to pay extra for faster delivery. The company is working to reduce costs associated with e-commerce and reassure investors that the e-commerce business is expected to be profitable.

Walmart said sales on its online marketplace have grown by more than 30% for four consecutive quarters. While the company does not disclose the exact number of sellers on the platform, the number of sellers has grown by double-digit percentages. Some categories, such as pet supplies and beauty products, have achieved annual growth rates of 20% to 30%.