Wal-Mart Offers Entrepreneurs a Chance to Compete for Shelf SpaceThe retail giant's 'Get on the Shelf' contest provides entrepreneurs and small-business owners a non-traditional way to get their product to market.
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HavingWal-Martpick up your product can turbocharge yoursales. Today, the retail giant announces a crowdsourcing contest for entrepreneurs, business owners and inventors to compete for shelf space.
To be part of the social contest, called "Get on the Shelf," entrepreneurs need to submit a video about their product by July 31, according to Wal-Mart. The winner's product will be sold on Walmart.com and potentially in some stores, the Bentonville, Ark.-based company says.
This is the second annual contest by the company. Any U.S. entrepreneur is eligible to enter, and Wal-Mart says it will take a keen interest in U.S.-made products, in line with its commitment to increase sourcing of U.S. goods. In January, the retailersaidit would purchase an additional $50 billion worth of U.S. goods over the next 10 years.
"Get on the Shelf taps into the spirit of American innovation and gives our customers a voice in selecting the products that will help them live better," says Joel Anderson, president and chief executive of Walmart.com, in a statement.
Related:An Inside Look At Being a Wal-Mart Supplier
Product submissions can fall into any of the various categories found on Walmart.com, including electronics, home goods, toys and apparel. Wal-Mart merchants will screen entries first. Then the public will be asked to vote on their favorite product. As many as 20 finalists will be selected and featured in a video series that will be released on thecontest website.
Up to five winners will be able to sell their products on Walmart.com. One grand-prize winner will be selected based on the number of pre-orders from customers and may get the opportunity to sell their products in some physical Wal-Mart stores.
In last year's contest, bottled-water brandHumankind Water, which donates 100 percent of its profits to helping get clean water to children across the world, was the audience favorite and is now sold in Wal-Mart stores in Connecticut and Maryland.Runners upincluded an eyeglass-repair kit and a dinner-plate topper that turns a plate into an air-tight container.
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