Walmart Joins the Collectibles Craze: A New Frontier for the Retail Giant
A New Frontier for the Retail Giant
Walmart, a name synonymous with everyday essentials, is making a bold move into the world of collectibles. This shift comes as the market for trading cards and other collectibles is experiencing a booming surge.
- Sales of trading cards on Walmart Marketplace have surged by over 200% compared to last year.
- Walmart is attending the National Sports Collectibles Convention for the first time.
- They've hosted a digital event called Walmart Collector-Con and plan to be at more collectible gatherings this year.
Expanding Offerings and Improving Shopping Experience
Walmart Marketplace is now offering a wider range of items, including:
- Graded singles
- Sealed boxes
- Sports memorabilia
- Coins
- Comics
To enhance the shopping experience, Walmart is launching an online collector shop with new filters. These filters allow customers to search for collectibles by:
- Team
- Event
- Card number
- Autograph
- Edition
Additionally, Walmart is improving the onboarding process for sellers, making it more efficient and consistent.
Strategic Partnerships and Future Goals
Walmart is teaming up with WeTheHobby to launch a livestream series on Walmart Live during the NFL season. They're also partnering with Mascot, a platform that helps sellers manage their listings across major channels.
The goal is to boost Walmart's general merchandise arm, which has seen little growth in recent years.
The Growing Collectibles Market
The collectibles market is huge and growing:
- Valued at $294.23 billion in 2023
- Expected to reach $422.56 billion by 2030
This growth is driven by:
- Investors looking for rare items
- People wanting to preserve cultural and emotional heritage
Competition with eBay
eBay has been a major player in the collectibles market, partnering with PSA, a trading card authentication and grading company. However, Walmart is set to give eBay a run for its money in the coming months.