Sat, Feb 25, 2012, 4:13 AM EST - U.S. Markets closed

Discover Yahoo! With Your Friends

Explore news, videos and much more based on what your friends are reading and watching. Publish your own activity and retain full control.

To get started, first

YOUR FRIENDS' ACTIVITY

    Wal-Mart Launches "American Idol"-Like Contest

    Wal-Mart has launched an "American Idol"-like contest to find the best new products.

    For the first time, the world's largest retailer is giving any small business, entrepreneur or individual inventor a shot at winning a spot on its store shelves nationwide and virtual shelf space through walmart.com. The contest is called "Get on the shelf."

    Similar to the popular reality show "American Idol," Wal-Mart (WMT) said contestants can enter any product category that it already has -- ranging from toys, electronics to clothing and household goods. They then can create and submit videos of their latest inventions at www.GetOnTheShelf.com.

    The discounter said the public will then vote online for the top three winners at GetOnTheShelf.com. The three will be sold on walmart.com. But the top winner will also automatically get shelf space in select Wal-Mart stores around the country.

    This kind of public contest is an unusual departure from how Wal-Mart typically picks products for its store.

    Wal-Mart is notoriously strict with its merchandise selection process, usually requiring vendors to meet with its in-house buyers at Wal-Mart headquarters in Bentonville, Ark., in small rooms lining a bluish-gray corridor that's unofficially referred to as "vendor row."

    Vendors keen to score a deal with Wal-Mart get a strict hour or less to pitch their products and convince Wal-Mart buyers about why they should stock them.

    "For a long time, the ability to get a product into a retail store was at the sole discretion of the store buyer," said Venky Harinarayan, senior vice president of Wal-Mart's global e-commerce unit.

    [Also see: Incredible Parking Garages]

    "Today we are removing these barriers by giving anyone the chance to launch their product at Wal-Mart and reach millions of shoppers nationwide," he said.

    Although Wal-Mart officially announced the contest on Wednesday, the retailer has quietly been getting the word out since late December and has already received more than 60 entries.

    Among them, an iPad pillow from ePillow, Ugg-like boots for dogs and a locking device for your soda bottle, so no can sneak sips behind your back.

    Wal-Mart said people can submit their video pitches until Feb. 22. The contest is open only to U.S. participants. The first round of voting will happen between March 7 and April 4 to select 10 finalists.

    The second round of voting between April 11 and April 24 will determine the top three winners.

    Chris Bolte, vice president of @WalmartLabs, said Wal-Mart hopes to quickly stock the top winning product at its stores.

    "But the timeframe really depends on the business behind the product," he said. "A small business, medium-sized business or individual inventor tend to be at different points of production."

    [Also see: NBA Star Scores $230,000 Birthday Gift]

    Bolte said Wal-Mart will help the winning companies, if they need it, with production and distribution assistance to ramp up production in order to meet Wal-Mart's quantity requirement.

    And depending on the contest's success, Wal-Mart will decide on whether or not to repeat it, he said.

    "At the end of the day, we're hoping to uncover products that we haven't been looking at and give consumers a voice about what Wal-Mart carries," he said.

     
    • barney  •  Birmingham, Alabama  •  1 month 6 days ago
      Contest suggestion! Ten people get a hour to search walmart for three items made in the USA.
    • Cat  •  1 month 6 days ago
      I know it's the largest company now but so was Woolworths and try to find one. Sam's grandchildren will blow the money and it will spiral down by 2050. I won't be here to see it but it will end. Sam is rolling in his grave. He wanted to make money but give us all something for less and he insisted on Customer Service. Not anymore.
    • Solitaire  •  1 month 6 days ago
      How about the American Dream ( and NOT made in China)
    • Tennis Fan  •  1 month 6 days ago
      How about some pajama pant suspenders for their customers?
    • Romney  •  Middletown, New York  •  1 month 6 days ago
      How about selling products made in America.
    • JR  •  Albuquerque, New Mexico  •  1 month 6 days ago
      Watch your patents and copyrights, Wal-Mart is notorious for gaming the market to where you end up selling the rights to them to survive then they go national with it and make $$$$$$. Avoid feeding the monster, buy local when you can.
    • Karl S  •  1 month 6 days ago
      If they truly like your idea but don't like your terms they will just steal it and sell it anyways.
    • angrydeafman  •  1 month 6 days ago
      Got an idea for product that will sit on their shelves perfectly...a robot that keeps saying "BUY USA PRODUCTS! BUY USA PRODUCTS!" while spinning it head that shoots red, blue and white sparks.
    • SANFORD  •  1 month 6 days ago
      Walmart Makes huge profits, destroys small mom and pop shops, but their stock hasn't done anything in 10 years. Where is the money going?
    • Paul  •  Barberton, Ohio  •  23 days ago
      I have submitted my fishing invention that makes fishing more fun called the DualFin and BulletBobber. They are fishing floats that kind of work like a stunt kite but sit on the water. It moves to the left or right and flips direction and color when given a little tug by flicking your rod tip. If you are fishing in a river or stream you can get it to go wherever you want downstream without recasting. If you are fishing in a lake or pond you can reel and make it go left or right to reach places you can't cast. They can explore and discover new territory that others cannot reach. www.bulletbobber.com

      Please vote for DualFin and BulletBobbers starting March 7
    • rabid brown  •  Sycamore, Ohio  •  1 month 6 days ago
      why does walmart keep advertising AD MATCH GUARANTEE but when you take an ad in from another store that says buy one get one free they wont honor it!!!!!!What a scam
    • change2012  •  Carlinville, Illinois  •  1 month 5 days ago
      Wal-mart needs someone to invent a way for them to open more than 2 of the 25 cash registers so their customers can have decent checkout service.
    • Stephen  •  Pittsburgh, Pennsylvania  •  1 month 6 days ago
      I am going to write a handbook on how to treat employee's and customers to try and get it on the shelves. Problem is it will probably burst into flames when entering the store because its blasphemy to the Wal-Mart gods.
    • TIGER22  •  Roseville, California  •  1 month 5 days ago
      How about Walmart "invents" a customer service plan...because no one knows where ANYTHING is in that store. I asked the other day where their "apple" products were--clearly holding my ipod in my hand and gesturing towards it--and he took me to the produce section and just walked away....really dude?
    • 1  •  1 month 6 days ago
      I was thinking it would be the search for the slobbiest, most non - appropriately dressed, Walmart shopper. I love those photos! Wal Mart is like shopping on Halloween all year long.
    • Goof Daf  •  1 month 6 days ago
      Sam Walton was a true american who would give shelf space to small american businesses so they could compete in the world market. He also gave company stock to employees as bonuses and gifts of course then it was only worth a quarter a share and had not split a dozen times. If he were alive today he would be very angry.
    • ColdWarrior  •  1 month 6 days ago
      I hate Walmart becauses everything they sell is make in China, but also because they are notorious for low wages and treating their employees badly.
    • Drackxman  •  1 month 6 days ago
      Yeah Walmart will get your price down to Nothing..... I know a guy who worked for a company that has products in Walmart even today. He told me how in meetings Walmarts people would haggle you down on price to the point where you made little profit.
      The only chance with your product in Walmart to make you money is on volume. And that's grasping at straws..... Some companies won't put their product in Walmart. Not worth it.
      Some of the stuff is so cheap only being Made in China is it possible to sell in Walmart. Geez, the people in China are getting like 50 cents a day to work for 10 or 12 hours a day and only get One day off. They already have it figured out that the workers are good for about 5 years and then you just cycle in the next group.
      This is why I try not to buy anything made in China. Which means I by little at Walmart. Remember 25 years ago when Walmart talked about ... Made in America products ?
      Buy Local if you can.... I do.
    • Linda H  •  1 month 6 days ago
      I DO hope these inventors realise they had better patent their inventions first because under current US patent law, the first to file get's the patent, even if he didn't have ANYTHING to do with creating the invention. Makes it easier for our Corporate overlords to continue to screw us over at their leisure.
    • Awoke2Thunder  •  1 month 6 days ago
      Serve up those ideas America so Walmart can sell them to their friends in Beijing.

    RATES

    Stay in touch with Yahoo! Finance

      YAHOO! FINANCE ON TWITTER

    Subscribe

    [X]

    How to subscribe

    Roll over each section to subscribe using Add to My Yahoo! or RSS Feed feeds.

    Yahoo! News offers dozens of RSS feeds you can read in My Yahoo! or using third-party RSS news reader software. Click here to find out more about RSS and how you can use it with Yahoo! News.
    Loading...