U.S. retail giant Walmart (WMT) has eBay (EBAY) in its sights as it looks to meet soaring demand for collectibles.
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According to a report in Chain Store Age, internal data has revealed that trading card sales on Walmart Marketplace have shot up over 200% year-over-year. Collectibles, such as baseball cards, have a rich place in U.S. culture but it is not something which has previously been that closely associated with Walmart.
Walmart Debut
That has certainly shifted now with the retailer set to make its first-ever appearance at the National Sports Collectors Convention this coming weekend at the Donald E. Stephens Convention Center in Rosemont, Illinois.
Walmart also recently hosted its third annual Walmart Collector-Con digital event and has reportedly said it will appear at major collectible gatherings this year. Walmart Marketplace is offering increased access to graded singles, sealed boxes, sports memorabilia, coins, comics, and other items.
An online collector shop, launched in fall 2024, will boast features including new filters that let customers search and discover collectibles by team, event, card number, autograph and edition.
Walmart is also said to be rolling out a more “efficient and consistent onboarding experience for collectible sellers that provides step-by-step guidance.”
It is also teaming up with collectible livestreamer WeTheHobby to launch a recurring livestream series on the Walmart Live platform this fall during the NFL season.
Other new services Walmart is offering collectors include a partnership with Mascot, a platform that helps collectibles sellers manage their listings across major channels.
The aim is to boost Walmart’s general merchandise arm, which has stayed fairly static over the last few years.
Growing Market
The global collectibles market size was estimated at $294.23 billion in 2023 and is projected to reach $422.56 billion by 2030, growing at a CAGR of 5.5% from 2024 to 2030.
It is being driven not just by investors wanting to make a return out of rare items, be they cards or comic books but also preserving cultural and emotional heritage.
eBay is trying to position itself as the premier online platform for buying or selling these collectible items, including a strategic partnership with the PSA (Professional Sports Authenticator), a trading card authentication and grading company.
But Walmart is set to provide quite the challenge in the months ahead.
Is WMT a Good Stock to Buy Now?
On TipRanks, WMT has a Strong Buy consensus based on 28 Buy ratings. Its highest price target is $120. WMT stock’s consensus price target is $111.33, implying a 13.15% upside.
