Selling on Walmart can be a game-changer, but it requires a bit of preparation. Want to boost your sales on Walmart Marketplace? Here are a range of straightforward strategies to help you thrive:
3 Strategies to Help you Start Selling on Walmart
- Offer Competitive Prices
Walmart is known for its “Lowest Prices” philosophy, so to succeed, your prices need to be competitive. Check what your competitors are charging on Walmart and other platforms. If your prices are higher, consider using a repricing tool to adjust them automatically. This will help you stay ahead in the competition.
- Build Your Reputation
Walmart values sellers with a strong reputation. They want reliable sellers who can meet their customers’ needs. Make sure your order fulfilment process is smooth and efficient. Aim to maintain a 99% feedback rating and a customer rating of at least 4.5 stars. Show Walmart that you’ve been successful on other marketplaces, especially Amazon, to increase your chances of approval.
- Offer Unique Products
For a quicker approval, try to offer products that Walmart doesn’t currently have. If you can fill a gap in their inventory, you’re more likely to get accepted. Walmart is always looking to expand its selection, so your unique items could be just what they need.
6 Strategies to Boost Your Sales on Walmart
Once you’re selling on Walmart, these tips can help you increase your sales:
- Win the Walmart Buy Box
The Buy Box is crucial for sales on Walmart. It’s mostly determined by price, including shipping. Offer the lowest total price to improve your chances of winning the Buy Box and increasing your sales.
- Get Positive Customer Reviews
Positive reviews can significantly impact your sales. Encourage happy customers to leave reviews, as many buyers rely on them to make purchasing decisions. While it’s not confirmed that Walmart uses reviews to rank products, they do influence buyer behaviour.
- Provide Excellent Customer Service
Walmart has high standards for customer service. Here’s what you need to do:
- Ship 99% of orders on time.
- Keep your order cancellation rate below 1.5%.
- Ensure less than 3% of products are returned due to defects.
- Update product information promptly.
- Maintain a 90% positive seller rating.
- Keep customer service issues to a minimum.
- Confirm orders and shipments quickly.
- Process refunds within a day.
- Answer at least 60% of customer calls and 90% of emails within a day.
By meeting these standards, you’ll not only avoid suspension but also improve your rankings and customer satisfaction.
- Use Market Research and Strategic Partnerships
- Conduct In-Depth Market Research: Understand what your customers want by diving into consumer trends, demands, and preferences. Use industry reports, data analysis, and customer feedback to make smart decisions and stay ahead.
- Build Direct Relationships with Manufacturers: Connect with manufacturers in your niche. This can give you access to unique products, better pricing, and more control over your stock quality and availability.
- Explore Related Categories: Expand your range by adding complementary products. For instance, if you sell dresses, consider adding handbags, shoes, or accessories to your catalogue.
- Expand Your Listings with the Assortment Growth Dashboard
Your product catalogue is key to your success on Walmart.com. The Assortment Growth Dashboard is an invaluable tool that provides data-driven suggestions on top-selling items across various categories.
How to Use the Assortment Growth Dashboard:
- Analyse Customer Demand: Understand what shoppers are looking for.
- Review Category Data: Identify popular items in your category.
- Optimise Your Listings: Add products that are likely to perform well.
Using this tool takes the guesswork out of expanding your assortment and helps you make informed decisions to maximise your sales.
- Gain a Competitive Edge with Repricer
Once you’ve expanded your catalogue, the next step is to ensure your products sell. Repricer is a tool that dynamically adjusts your prices to match or beat competitors, helping you attract more customers and win the Buy Box.
Benefits of Using Repricer:
- Stay Competitive: Keep your prices attractive compared to others.
- Increase Sales: Higher chances of winning the Buy Box means more visibility and sales.
By leveraging these strategies and tools, you can effectively and sustainable grow your business on Walmart Marketplace and achieve long-term success.
