7 Walmart Selling Strategies That Can Boost Your Sales

Mar 4

What are the best ways to increase Walmart sales? The eCommerce platform will be used by more than 35,000 retailers in 2022, and this is the question they are asking. As the second-largest retailer in the United States, Walmart enjoys more than 250 million customers each month. It is, therefore, an ideal platform for retailers seeking to expand their eCommerce business.

However, it is not 100% assurance that you will succeed in using the platform. To be a successful Walmart Seller on the Walmart platform, it is vital that you optimize your conversion rate. We're going to talk about some ways to boost your sales in the Walmart marketplace and get valuable results. If you are looking for Walmart account management services to implement these strategies, reach out to Urtasker.

Strategies for driving sales on Walmart Marketplace

Increasing sales and staying competitive at Walmart Marketplace is the challenge for many eCommerce brands. Customers are becoming increasingly more aware of the value of good feedback, so many sellers are constantly improving.

Walmart is one of the retailers where customer reviews directly influence the ranking and sales of its products. By implementing the following seven strategies in your Walmart shop, you can increase sales at Walmart by giving your customers the best possible experience.

Price your Walmart products at competitive rates

As a customer, you expect to be offered the products you desire at the lowest possible prices without sacrificing quality. According to Walmart, sellers are responsible for making sure that this happens. It is therefore important that the first and foremost consideration to be made when selling at Walmart is the pricing of the products. Go to the Walmart seller account to set competitive prices to attract customers.

The way in which items are priced at Walmart is governed by certain rules. Throughout the management process, Walmart keeps a very close eye on the prices of its products. In the event that you violate Amazon pricing rules, Walmart can suspend your Seller Account. To ensure that your products sell at the lowest price at Walmart, make sure you follow their policies. Consequently, you are increasing your chances of winning the Walmart Buy Box, and thus, increasing your sales.

Make sure Walmart customers have a great shopping experience.

There may appear to be no specific meaning to this suggestion, but it is crucial if you wish to sell on Walmart quickly. Generally, people today are more concerned with gaining quality experiences than they are with acquiring worldly things. Therefore, if you want to be remembered for a long time, then you should provide an enhanced Customer Experience on Walmart in order to stand out.

In order to enable marketplace sellers to sell more and better, Walmart already offers a user-friendly interface. Their main goal is to make their customers feel at home. Plan out a strategy that will best serve your niche as soon as you understand the market base.

The tips you need to excel at Walmart's Customer Service:

Make sure the product you are shipping is the one that was ordered.
By providing high-quality goods no matter what, you can ensure the lowest cancellation rate and return rate.
Make sure that your customers are your top priority by providing escalated customer service.
If you receive an order from the customer website, please acknowledge it within 15 minutes to 2 hours at the very maximum.
Upon placing an order, you should receive a confirmation of shipment by e-mail along with all related information.
Be sure that after the machine-generated voice ends, you pick up the call within a maximum of one minute.
To remain on the safe side and avoid suspension, strive to keep your Order defect rate (ODR) under 2%. Walmart recommends maintaining the following standards:
The cancellation rate for a 14-day period is 2%

Over 95% of deliveries are completed on time within 14 days

Validation rate greater than 99% within 14 days

Make your product listings more effective

For Walmart's sellers to compete effectively and increase sales, they need to optimize their product listings. You can increase your product's visibility by following these useful tips:

SEO should be a priority

Several factors impact the visibility of a product on Walmart.com and on search engines such as Google, including SEO, for Walmart sellers. Pay attention to the following factors:

Name of the product
Photos
Key Features
Detailed description
Characteristics

Winning Buy Box category

It's good to know Walmart lets customers look at other sellers' listings. In the Buy Box section of the item description page, where you can also click on Add to Cart, it is known that only one seller's inventory is displayed. A seller that wins the Buy Box typically wins the sale as well since it is more prominent on the page. What are the steps to score the Walmart Buy Box?

The Buy Box at Walmart displays the cheapest items that are available for purchase. For this reason, make sure your prices are competitive, and you are stocking enough items. All of this is critical if you wish to win the Walmart Buy Box. Insufficient inventory will prevent items from appearing in the Walmart Buy Box.

Promote and advertise

Walmart offers paid advertising options that are creatively titled "clearance" and "reduced," which can be useful to increase visibility and conversions in your listing.

Categorize your products correctly.

Choosing the right categories and attributes for your products on Walmart Marketplace is a crucial part of your success. As opposed to Amazon, Walmart's merchandise is categorized the same way it is offered in physical stores.

A product may not appear in the search results of a shopper if it is placed in the wrong category or omits a vital feature. Thus, before submitting your products to Walmart, you should always consult their Knowledge Base.

Establish the right markup to make a profit

A primary objective of Walmart is to provide customers with low prices and the greatest value possible. Their mission is to educate and engage buyers as they are committed to doing so, and they expect their third-party sellers to do the same. As a consequence, listings may be removed without prior notification if their price ceases to be the most affordable. Accordingly, if you wish to increase sales and obtain immediate visibility on the Walmart platform, it is crucial to set low prices.

Your business may not always benefit from that priority. If you would like to stay competitive on the platform and profitable, it is up to you to determine the right markup.

To do this, simply subtract the unit cost from the sales price and then divide that number by the unit cost. Lastly, multiply the result by 100 to find the markup percentage.

Make sure that you keep an eye on the Order Defect Rate.

Log in to Walmart Seller Center in order to see your seller performance metrics. In the left-hand sidebar menu, there is an option for Analyses & Reports under the Performance category. It includes rejections from cancellations, returns, delivery, and complaints within 90 days.

Use Walmart's fee-free model.

On Amazon, you pay for just about everything from account subscriptions to Fulfillment by Amazon (FBA), to shipping, to storage, to seller referral fees. It is worth noting that Walmart only charges referral fees, which are based on the category of the products purchased.

Due to this, you should use those savings to expand into other areas of your business. For instance, you might add free shipping (if possible), expand your inventory, run promotions, or anything else that might be helpful.

Conclusion

It is very easy to become overwhelmed when trying to sell on a marketplace. However, different strategies apply to Walmart Marketplace as compared to Amazon or eBay. Implementing these strategies consistently will become muscle memory in no time while yielding the anticipated results.

Make your product description, shipping details, and client reviews relevant to the Walmart Marketplace and become a leading seller. Conversion Rate Optimization and Customer Experience should be at the heart of your strategy. With these 7 Awesome ways to boost sales on Walmart, you get a better understanding of your marketplace and how to master it.