Key Moments
- Walmart Inc (NYSE:WMT) expanded its footprint at the 46th National Sports Collectors Convention near Chicago as it promoted its evolving trading cards and memorabilia marketplace.
- Recent transactions on Walmart’s invite-only platform have surpassed $30,000 for signed memorabilia, with the retailer earning commissions on these sales.
- Mizuho values the U.S. trading card market at $10 billion to $20 billion and keeps a $130 price target on Walmart shares based on its fiscal year 2028 earnings estimate.
Enhanced Presence at Major Sports Collectibles Event
Walmart Inc (NYSE:WMT) ramped up its engagement with the collectibles community at the 46th National Sports Collectors Convention near Chicago, according to Mizuho analysts who were on site. The company used the event to highlight its growing marketplace for trading cards and sports memorabilia and to meet directly with attendees.
The convention runs for five days and drew over 100,000 people last year. Mizuho noted that early indicators pointed to approximately 20% higher attendance this year, judging by the increased traffic on the show floor. Against that backdrop, Walmart’s booth was larger than at the prior event and drew a heavier flow of visitors.
Developing Invite-Only Marketplace and Recent Sales
Walmart’s collectibles marketplace is still in the development phase and currently operates on an invite-only model for sellers. Even in this early stage, the platform has recorded individual sales in excess of $30,000 for signed memorabilia. Walmart earns a commission on these transactions, providing a new revenue stream tied to the trading card and memorabilia segment.
Incentives for Sellers and Strategic Partnerships
To scale participation on its marketplace, Walmart is offering a package of incentives aimed at attracting new sellers. These include commission rates starting as low as 4.8%, $2,000 in fulfillment services credits, and $1,000 in search engine marketing credits.
The company has also partnered with GradedGuard on a limited edition Walmart-branded plastic case designed for PSA slabs. These cases have already surfaced on resale platforms, where they have been listed for more than $100.
Growing Demand for Card Grading Services
Interest in card grading services continues to rise alongside activity in the collectibles market. Beckett reported a 102% year-over-year increase in cards submitted in July. The company, which is owned by Collectors, temporarily paused some operations in order to expand its capacity to handle the elevated volume.
| Metric | Detail |
|---|---|
| Convention attendance last year | Over 100,000 |
| Estimated attendance change this year | Approximately 20% increase |
| Top recent sale on Walmart marketplace | Over $30,000 for signed memorabilia |
| Seller commission rate | As low as 4.8% |
| Fulfillment services credits | $2,000 |
| Search engine marketing credits | $1,000 |
| Beckett card submissions in July | Up 102% year-over-year |
| Resale pricing for Walmart-branded GradedGuard case | Over $100 |
Market Size and Mizuho’s View on Walmart
Mizuho estimates that the U.S. trading card market falls in a range of $10 billion to $20 billion, underscoring the potential scale of the category Walmart is targeting with its collectibles marketplace.
The firm maintains a price target of $130 on Walmart shares, based on applying a 36 times multiple to its forecast for the retailer’s fiscal year 2028 earnings.
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