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As Seiyu struggled to gain traction among local consumers, speculation emerged that the company intended to sell Seiyu and exit Japan, though the company denied it in a comment last July.While retailers and real estate investment funds expressed interest, eyeing Seiyu's stores in prime locations, Walmart received no offers it considered acceptable for a unit that had been expected to fetch 300 billion yen to 500 billion yen.
Of those, only about 200, or 2%, were ultimately accepted” (Gwendolyn Bounds, “The Long Road to Walmart Shelves”, Step one is making sure that your company is ready to do business.
Walmart and other large retailers have supplier standards that must be met.
Potential local suppliers, unlike potential suppliers of national products, get to directly approach their local Walmart store manager and pitch their product.
(Note that some products, such as jewelry and apparel, are not included in the Local Purchase program and must follow the National products process.) Make sure you check Walmart’s Minimum Vendor Requirements before you plan your presentation – you’ll only get one shot at it.
TOKYO -- Walmart plans to relist Japanese unit Seiyu on the stock market, hoping to revive the struggling business with an approach more tailored to the local market, as the U. retail giant tries to reshape its global operations to focus on the key markets of China and India.
The relisting plan, mentioned in Seiyu's three-year business plan, comes at a time when its main American business is under tremendous pressure from and other e-tailers.
Walmart vendors must carry product liability insurance, for instance, have their financial information listed with Dun & Bradstreet and have proper Universal Product Code (UPC) Identification Number(s) for all their products.
When you have all your legal ducks lined up in a row, you'll be ready to actually start the process of applying to be a Walmart supplier (outlined below) - a process that is not only time-consuming but may also be costly.
Besides dramatically increasing a business’s profits and opening doors to other lucrative retail contracts, having your products on a big box retailer’s shelves gives consumers and other retailers the message that your company’s products are winners.
However, competition to become a Walmart vendor is fierce; in 2004, “about 10,000 new suppliers applied to become Walmart vendors.