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6
MINUTE READ TIME
Published
June 4, 2024
|
Jordan Schanzer
|
Partner Spotlight

Repricing Strategy for Selling on Walmart vs Amazon

Repricing Strategy for Selling on Walmart vs Amazon

Table of Contents

As sellers, we are all well aware of the dominant force that Amazon represents in the ecommerce industry. We could throw a plethora of mind-boggling statistics at you, but we won’t waste your time.

We know you’ve probably heard lots of chatter about Walmart Marketplace and its untapped growth potential. If you’re like most of our audience, you might be interested in diversifying your business but remain skeptical about Walmart’s ability to help you increase your bottom line.

Is gaining traction in a new marketplace worth the time and effort?

And why aren’t there any software solutions helping with a more effective repricing strategy?

Stick with us as we dive into Walmart Marketplace—a platform that is often underestimated but is brimming with unexplored potential for savvy sellers like yourself.

In this post, we'll explain exactly why Walmart Marketplace warrants your attention and how accurate data and smart repricing strategy can empower you to harness its full potential.

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Redefining Opportunity: Walmart Marketplace vs Amazon

Walmart Marketplace vs Amazon
Walmart Marketplacer has experienced a 79% year-over-year increase in GMV

Let's dispel the notion that Walmart Marketplace pales in comparison to Amazon.com. While Amazon undeniably commands the lion's share of the market, Walmart's platform offers a distinct set of advantages and opportunities.

With its stringent vetting process and curated seller base, Walmart Marketplace provides a less saturated environment where quality and differentiation can shine. Moreover, Walmart's expansive customer base and diverse product categories present a fertile ground for those willing to position themselves for success strategically.

Consider the impressive growth trajectory of Walmart Marketplace and its fulfillment program for sellers, which saw a 50% increase in Gross Merchandise Volume (GMV) as of August 2023. This substantial growth outpaces even Amazon's marketplace growth rate, signalling a significant opportunity for sellers to capitalize on Walmart's expanding ecosystem.

It would be great to get a piece of that pie, right? So let’s dive into how you can do it.

RELATED: Selling on Walmart vs Amazon

Why Amazon Repricing Strategies Won’t Work on Walmart Marketplace

Why Amazon Repricing Strategies Won’t Work on Walmart Marketplace
Walmart Marketplace provides a less saturated but unique environment where quality and differentiation can shine.

Many price management solutions attempt to apply the same repricing strategy on Walmart Marketplace that they use on Amazon. However, due to several key differences in platform dynamics, what works on Amazon may yield different results. That’s why it’s important to make sure the repricer you choose has a unique, Walmart-focused approach in these three crucial areas:

1. API Data: Avoiding Inaccuracies and Outdated Information

Walmart's API is known for inaccurate or outdated product and pricing information approximately 40% of the time. This major error rate can lead to a repricing strategy based on incorrect data, which impacts your competitive positioning.

To compete effectively on Walmart Marketplace, it's crucial to have access to accurate, up-to-the-minute Buy Box information for your listings. Without this, you're essentially making pricing decisions blindfolded.

For example, a simple check in the Seller Center against the front end of Walmart Marketplace will reveal mismatches in data for about 2 out of every 5 of your listings.

How can your repricer work effectively if it’s basing its pricing decisions on incorrect information?

Selling on Amazon? Efficiently oversee changes in listings, fluctuations in Buy Box, product suppression, and takedowns through AMZ Alert’s unified monitoring dashboard.

PRO TIP

2. Fast Speed: Outpacing Walmart’s Slow Built-In Repricer

Outpacing Walmart’s Slow Built-In Repricer
Many sellers remain frustrated by Walmart API limitations

Walmart’s internal repricer updates prices about 4-6 times daily, which is insufficient in a fast-paced marketplace where the Buy Box winner can change multiple times within an hour.

Implementing instant price changes can drastically increase your Buy Box share—from 2-4% to around 70%. This is because software capable of making immediate adjustments can consistently capture the Buy Box before slower competitors regain it, sometimes hours later.

During these intervals, competitors might incrementally raise their prices while holding the Buy Box, thus maximizing their profits at your expense.

RELATED: How Amazon Sellers Can Grow Off-Amazon Traffic to Increase Profitability

3. Unique Strategy: Outpacing Walmart’s Slow Built-In Repricer

Similar to Amazon, Walmart weighs factors like seller ratings, handling times, and fulfillment methods when awarding the Buy Box.

However, the methodology they use to score these differentiators against one another is unusual. Therefore, your repricing strategy should be sophisticated enough to incorporate these variables effectively. 

For example, is your repricer smart enough to understand, given the same handling time, that it can get away with a higher price on Walmart than on Amazon?

If it is blindly applying the same logic to both marketplaces, you could be less optimized than you think.

The selling fees on Walmart differ from those on Amazon, which necessitates a repricing tool that can accurately factor in these costs along with your product costs to ensure you never sell below your minimum acceptable profit margin.

Due to less aggressive competition and slower repricing responses on Walmart, the opportunity to increase your prices while maintaining the Buy Box is greater. Effective automated repricing strategies for Walmart should include tactics to raise prices strategically, maximizing profit rather than engaging in constant price wars.

By understanding these key differences (data, speed, and strategies), you can tailor your approach to compete effectively on Walmart Marketplace.

Leveraging repricing Amazon and Walmart tools like Flashpricer, designed to overcome these specific challenges, can provide you with the edge necessary to beat the competition.

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Adapting Repricing Strategies for Walmart Marketplace

Walmart presents a compelling opportunity for sellers seeking to expand their ecommerce footprint. Despite Amazon's dominance, Walmart's platform offers unique advantages, including a less saturated environment and a growing customer base.

To capitalize on this opportunity, sellers must adapt their repricing strategy to the nuances of Walmart Marketplace. While Walmart’s built-in repricing tools may fall short, specialized solutions like Flashpricer are designed to address the platform’s unique pricing dynamics, allowing you to stay ahead of the curve and maximize success on Walmart.

Combine Flashpricer with Wally Smarter, an all-in-one solution for growing and scaling your Walmart business. Perform market research, identify profitable product opportunities, create compelling product listings, monitor performance metrics, and adjust pricing strategies in real time.

By leveraging WallySmarter's advanced analytics and automation capabilities, effectively navigate the complexities of selling on Walmart Marketplace and drive growth for your online store.

RELATED: Walmart and Amazon Battle for Dominance Intensifies

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