Walmart is one online platform that is giving quite a tough competition for the eCommerce giant Amazon. With its recent acquisition of Flipkart in India and Jet.com earlier in 2016, the company has made it very clear that nothing is stopping them. The eCommerce marketplace is not just shopping for a bigger with the biggies of the industry, but it has also opened up doors for the small vendors to dive into the tech-savvy market.
Walmart is the second-largest online shopping destination (after Amazon) in the US. With 495.76 billion U.S. Dollars global net sales, it has marked its presence all over the world and is continuing to gain more success in the future.
Moreover, the eCommerce site has marked its presence in over 27 countries worldwide. Thus, it is indeed a great platform for the e-sellers to reach out to yet another chunk of ready buyers. However, with great opportunity comes great responsibility. The consumer-centric market sought nothing, but the best. Thus, the jam-packed platforms require the sellers to stay at their toes when it comes to catering to the customers with efficiency.
Selling the products worldwide has become effortless with the prominence of Walmart. Getting a shelf on the Walmart Marketplace is not as easy as it seems. There are many pros and cons of selling at Walmart Marketplace. However, if you are accepted as a third party seller on Walmart, it’s necessary to optimize your presence on the same. To help you stay ahead of the cut-throat competition, Walmart provides you an option of BuyBox.
If more than one seller is selling the same product, then, walmart.com displays them on a single page. This page displays the products and their pricing to the customer. Out of these products, one item wins the Buy Box. The customers are drawn to the very first option that they see. As per reports, approximately 85-90 percent of sales are acquired by the seller who wins the Walmart buy box. Hence, winning the buy box is essential for the vendors.
An online marketplace is a place where multiple vendors are offering the same item at different prices. At this point, the seller that offers the products at the best or the lowest price wins the BuyBox. Content Analytics offers you an automated notification whenever you lose the buy box. Additionally, for the CMS-based eCommerce sites, there are plugins available that help you import the BuyBox report in your store. Thus, you can track the pricing report of the other vendors and reprice the product accordingly. Extensions like Prestashop Walmart integrator, Magento 2, Magento Walmart Integration extension, OpenCart Walmart Integrator Extension, and Shopify Walmart Integrator Extension offers the same functionality for the respective platforms.
In case you manage your Walmart shop without any extension, you can make use of the Walmart Repricer. This tool checks out the lowest price of products on the Walmart store. Not just this, it even changes the price of the product accordingly. On the other hand, if the competitors’ price is higher than that of yours, you can lower the prices, but keep it less than theirs.
Walmart.com’s buy box algorithm structured to check the inventory of the item competing to win the BuyBox as well. After the pricing is checked, it will see if the products are in-stock or not. If it doesn’t, then, the seller will lose, even if it is being offered at the lowest price. Try to keep the products in stock that are in the wishlist or popular between customers as its unavailability could make you lose potential customers. Ranking of products is also necessary as they should be visible in the search results of customers resulting in good sales and profits.
Winning the BuyBox is dependent on the order cost of the order. Thus, the shipping charges can be one of the deciding factors. Thus, it is recommended to use free ‘Value Shipping’. On Walmart, if the total cart value is more than $50. Offer free delivery to the customers along with lower prices.
Knowband offers Walmart marketplace integrators for various CMS platforms such as Prestashop, Magento 2, Magento, OpenCart, and Shopify. This is how the plugins can help the e-sellers to win the BuyBox:
- You can import the BuyBox report of the Walmart marketplace by executing cron in the back-end of the Walmart integrator.
- You can track the price of your competitor and reprice your product accordingly.
- The change in the price is synced with the marketplace with the help of the cron job offered by Knowband’s Walmart integrator.
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