Walmart expands collectibles marketplace at sports convention, Mizuho comments

Investing.com -- Walmart Inc (NYSE: WMT) showcased an expanded presence at the 46th National Sports Collectors Convention near Chicago, where the retailer met with attendees to discuss its developing marketplace model for trading cards and memorabilia, according to Mizuho analysts who attended the event.

The five-day convention drew over 100,000 attendees last year, with early indicators showing attendance increased by approximately 20% this year based on a busier show floor. Walmart's booth was larger and attracted more visitors compared to last year's event.

The retailer's marketplace currently operates on an invite-only basis for sellers and is still in development. Recent sales on the platform have exceeded $30,000 for signed memorabilia, with Walmart collecting a commission on these transactions.

Walmart is offering incentives to attract new sellers, including commission fees as low as 4.8%, $2,000 in fulfillment services credits, and $1,000 in search engine marketing credits. The company partnered with GradedGuard on a limited edition Walmart-branded plastic case for PSA slabs, which appeared on resale platforms for over $100.

Demand for card grading services continues to grow, with Beckett reporting a 102% increase in cards submitted in July compared to the prior year period. The company, owned by Collectors, temporarily paused certain operations to add capacity.

Mizuho estimates the trading card market in the United States ranges between $10 billion and $20 billion. The firm maintains a $130 price target on Walmart shares, applying a 36 times multiple to its fiscal year 2028 earnings estimate.

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