How to Win Buy Box on Walmart in 2024?
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Winning the Buy Box on Walmart Marketplace is the key to boosting online sales for sellers. But, with over 152 K sellers competing, implementing the right pricing strategy becomes imperative. Multiple sellers competing with similar inventories on the Walmart marketplace for the same items are listed under one best-performing listing of that product. And, the Buy Box is aligned to the winner on the basis of factors such as pricing, review, shipping, etc.
This blog breaks down the entire process of winning the buy box and how sellers can boost their sales on Walmart with a little help from CedCommerce.
What is a Buy Box on Walmart?
On marketplaces like Amazon and Walmart, millions of sellers share similar inventories and can end up fighting for the same items. These online marketplaces allow different sellers to list identical products under a single listing. And, the seller with the most competitive pricing (the most important factor) is awarded the sale of the product.
In other words, sellers compete to win the coveted ‘Add to Cart’ button, which is where most shoppers make their purchasing decision. The seller who secures the ‘Add to Cart’ button is considered the winner of the ‘Buy Box’.
Note – If you’re winning the Buy Box on Amazon, it isn’t necessary that you’ll win the Buy Box on Walmart as well. As each marketplace has its own set of rules and algorithms.
What are the Benefits of Winning the Walmart Buy Box?
Winning the Walmart Buy Box comes with incredible benefits that help you boost your sales. Have a look at the following benefits to understand why you should eye for the Walmart Buy Box:
- Increased Visibility and Sales: The Buy Box prominently features your product listing, making it the default option for shoppers. This increased visibility can lead to a substantial boost in sales volume.
- Enhanced Trust and Credibility: Being featured in the Buy Box enhances your credibility as a seller, indicating that Walmart trusts your product quality and service, which can attract more customers.
- Competitive Edge and Higher Conversion Rates: Securing the Buy Box gives you an edge over other sellers offering the same product, leading to higher conversion rates as you become the primary seller customers see and trust.
- Improved Customer Experience: Winning the Buy Box often means you are offering competitive pricing, fast shipping, and excellent customer service, all of which enhance the overall shopping experience for customers.
- Long-Term Growth and Better Seller Metrics: The increased sales and improved metrics from winning the Buy Box contribute to long-term business growth and sustainability on the Walmart platform, reinforcing your standing and opportunities as a top seller.
How to win the Walmart Buy Box?
Essential factors that help you win Buy Box at Walmart are as follows:
1. Competitive pricing
The most important parameter that decides whether you will win Walmart Buy Box or not is the final product price, i.e., the product price, including the shipping costs. If you keep your product price lower than what the other sellers offer and fulfill Walmart’s other guidelines, you will surely win Buy Box on Walmart, increasing your sales at Walmart.
Before pricing your products on Walmart, keep in mind the two Walmart pricing rules that need reverence by all Walmart sellers. These are:
Walmart Price Parity Rule
It is also known as Walmart’s Price matching policy. According to this pricing rule, the seller’s product will be unpublished from Walmart if he happens to sell the same product, i.e., a product of the same color, make, and brand on some other platform at a drastically lower price. This price is inclusive of the shipping costs.
Note: Walmart republishes the product only if the seller reprices the product per this price parity rule.
Walmart Price Leadership Rule
According to this policy, the seller’s product will be unpublished from Walmart if the customers save an excess amount on the same product, i.e., a product of the same color, make, and brand from some competing site(regardless of the seller). This price is also inclusive of the shipping costs.
When such an incident occurs, Walmart sends a notification to the seller. Also, if the product price on those other sites changes to a range matching yours, the product will be made LIVE again on Walmart.
Read more: How not to get your products unpublished on Walmart
2. In-Stock Products
Walmart thoroughly checks the item inventory competing for the Buy Box. Sellers will lose the opportunity to win Buy Box if sufficient stock is not there to fulfill the orders, even if the item’s price is lower than others competing to win Buy Box on Walmart.
Ensure that your products never go out of stock. When your products run “out of stock,” Walmart pushes your products down from the top results. To solve the issue of running out of stock, you can set up notifications that alert you when the stock goes below a specific limit specified by you.
You can also try the CedCommerce Walmart Integration, that lets you set inventory & pricing rules to ensure you never run out of stock and maintain profits.
3. Authentic Content for all Attributes of Items
Don’t narrow down your Walmart’s Buy Box winning strategy to only Pricing and Stocking. You must look after all the other aspects of each item you sell at Walmart and create great listings. These aspects include keeping the item’s title, description, features, and images according to Walmart guidelines. You need to have a good history of selling on Walmart. Also, you need to satisfy your customers with your services so that they leave positive reviews about you.
Ensue that you meet Walmart’s Performance Standards and carefully develop your product narratives to positively influence the customers’ shopping experience. This will maximize your chances of winning the Walmart Buy Box.
Bonus Tip: Utilizing the Review Accelerator to Win the Walmart Buy Box
Indeed, the right pricing strategy is the cornerstone to winning the buy box on Walmart marketplace. But, there are other highly influential factors that also play a role here. Imagine, a customer searches for an item, for which you are the top seller with the best price and your listing is featured. But, what if due to less or poor reviews, they end up not making the purchase decision?
To avoid such situations, the Walmart Marketplace’s Review Accelerator program can help you showcase the trust and confidence the buyers are looking for. In this program, you can gain reviews from verified buyers on Walmart and enhance your product listing page.
Note – The CedCommerce Walmart Connector now supports the Walmart’s Review Accelerator program.
How can Cedcommerce help you win the Buy Box on Walmart?
Since pricing is an essential factor to win Buy Box on Walmart, keeping your product’s prices lower than the other sellers is a must. The question is how to keep yourself updated whenever a competitor changes their products’ prices on Walmart? This is where you can deploy the benefits of Cedcommerce’s Walmart Repricer Tool.
How can Cedcommerce help you win the Buy Box on Walmart?
Since pricing is an essential factor to win Buy Box on Walmart, keeping your product’s prices lower than the other sellers is a must. The question is how to keep yourself updated whenever a competitor changes their products’ prices on Walmart? This is where you can deploy the benefits of Cedcommerce’s Walmart Repricer Tool.
How does CedCommerce’s Walmart Repricer Tool work?
Thus, Walmart Repricer employs algorithms that evaluate and automatically adjust prices for each product you sell on Walmart. The process begins by fetching the price of the current Buy Box. Then it compares this price with the prices of your products. And based on the minimum and maximum price range set by you, the repricer calculates the new price for your product in a way that you win the Walmart Buy Box.
The Repricing feature of the Walmart Repricer helps you compete and determine the perfect pricing for a particular item (depending on the minimum and maximum prices set by you). Hence, it enables you to be at the topmost position in the product listing and win Buy Box on the Walmart marketplace.
To Sum Up
Competitive product pricing on Walmart is crucial. Additionally, optimize every aspect of your product listings to make them stand out. Ensure that product titles, descriptions, images, and inventory updates adhere to Walmart’s guidelines to maximize your chances of winning the Buy Box. Design your marketing strategies to enhance your chances of securing the Buy Box, as it ensures your product gets a prominent display and is added to the shopping cart when a shopper clicks the ‘Add to Cart’ button.
If you find it challenging to set competitive prices on Walmart, consider using CedCommerce. CedCommerce’s Repricing tool, with its automated pricing features, allows you to easily set competitive prices by defining minimum and maximum price values. This helps you win the Walmart Buy Box effortlessly, ensuring you don’t miss out on sales.
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FAQs
What is Walmart’s Price Parity Rule?
Walmart’s Price Parity Rule is a requirement for sellers. It states that the price of a product on Walmart’s marketplace must be equal to or lower than the price of the same product on other online platforms. This rule ensures that customers are getting the best available price on Walmart compared to other online marketplaces where the same product is sold.
What is Walmart’s Price Leadership Rule?
The Price Leadership Rule dictates that Walmart aims to be the lowest-priced retailer in the market. Sellers are encouraged to set their prices lower than their competitors, both on and off the Walmart platform. If a product is found to be priced lower on another platform, Walmart may suppress the Buy Box for that product until the price is adjusted to match or beat the competitor’s price.
How can I win the Walmart Buy Box?
To win the Walmart buy box, follow these steps:
- Competitive Pricing: Regularly monitor and adjust prices to stay competitive.
- Use Repricing Tools: Automate price adjustments with tools like CedCommerce’s Repricing tool.
- Optimized Titles and Descriptions: Create clear, keyword-rich titles and detailed descriptions.
- High-Quality Images: Use high-resolution images that meet Walmart’s guidelines.
- Fast and Reliable Shipping: Ensure quick and reliable order shipments.
- Low Order Defect Rate: Minimize order defects with accurate listings and quality control.
- Consistent Stock Levels: Keep inventory well-stocked to avoid running out.
- Automated Inventory Updates: Use tools to update stock levels in real time.
- Encourage Reviews: Prompt satisfied customers to leave positive reviews.
- Address Negative Feedback: Quickly resolve customer issues to maintain a high rating.
- Adhere to Guidelines: Ensure compliance with all of Walmart’s guidelines and policies.
- Regular Updates: Stay informed about policy changes and update practices accordingly.
How can I start selling on Walmart?
To start selling on the Walmart marketplace, follow these steps:
- Apply for a Walmart seller account
- After validation – complete registration of the account
- To sync your products from a platform like Shopify (your online store) try the CedCommerce Walmart Connector
- Do your free onboarding & sync your inventory, prices & orders across Walmart and online shop
- Once everything is set up, focus on boosting your sales while the CedCommerce Walmart Connector handles the heavy lifting