As a seller on Walmart Marketplace, you have an incredible opportunity to reach millions of customers and help grow your business. What’s more, 85% of Walmart.com shoppers make at least one online purchase per month1. With this level of potential, it’s important to continuously evolve your Marketplace catalog. Being able to meet a wide variety of ever-changing customer demands can help you succeed and maximize your ability to drive sales.
Walmart Marketplace fuels the growth of our sellers with an ecosystem of omnichannel solutions. In this post, we share some tried and tested ways Marketplace sellers expand their catalogs and drive sales for you to consider.
1 Harness the power of market research and strategic partnerships
A great way to help grow your Marketplace catalog is by tapping into market research and leveraging a wider network of resources. With an effective strategy in place, you can make informed decisions that can help set the stage for long-term success.
Here are a few ideas to get you started:
Conduct in-depth market research
Gain a comprehensive understanding of consumer trends, demands, and preferences. We suggest analyzing available data, exploring industry reports, and utilizing customer feedback to help take your presence up a notch.
TIP: A solution provider like DataSpark can help you scale your business with all the research and analytics you need—from product research to competitive intelligence.
Establish direct relationships with manufacturers
Reach out to manufacturers that specialize in the categories relevant to your business. You might be able to access unique product lines, negotiate favorable pricing, and have more control over the quality and availability of your inventory.
Utilize networking opportunities
Attend relevant trade events and connect with industry experts. These events provide valuable networking opportunities and allow you to stay up-to-date on the latest market trends. Not only that, but networking can also help you gather insights to inform your catalog expansion strategy.
Consider moving into adjacent categories
Look into products that can complement items in your catalog. For example, if you sell dresses, consider expanding into handbags, shoes, or accessories.
TIP: Evaluate the profitability of expanding into adjacent areas by doing market research to assess customer overlap, demand potential and competition.
2 Expand your listings with the Assortment Growth Dashboard
Your catalog is the foundation of your business on Walmart.com, and one of the most valuable tools for catalog growth is the Assortment Growth Dashboard. This tool is a game-changer when it comes to providing out-of-the-box solutions that can help you expand your assortment in a way that’s free of guesswork.
By using customer demand signals, category data and more, you’ll get suggestions on best-selling items across various categories, brands, and competitive prices so you can make data-driven decisions to help optimize your assortment for maximum performance.
Tips for using the Assortment Growth Dashboard:
- Explore the dashboard to get personalized product recommendations that align with your goals, then easily add those items to your catalog within the dashboard utilizing the quick set-up item action.
- Utilize columns and filters, including “Demand season” (Spring, Summer, Fall, Winter) to get ahead of the competition and help increase visibility.
- Return to the dashboard every few days for new suggestions, increasing your chance to be one of the first to add trending brands and products to your catalog.
By using the Assortment Growth Dashboard effectively, you can take the guesswork out of selling and make informed decisions about your catalog. Use it to analyze data and understand which products are likely to be successful on Walmart Marketplace and, in turn, lead to success for your business on Walmart.com.
TIP: The voice of your customer is important! Be sure to listen to feedback and reviews to understand what people like and dislike. Utilize these learnings to make improvements to your existing products and identify opportunities for growth.
3 Gain the competitive edge with Repricer
Now that you’ve added recommended products to your catalog, how can you help ensure they sell? That’s where Repricer comes in. Another important tool for catalog success on Walmart Marketplace, Repricer dynamically adjusts your prices to meet or beat competitor prices, increasing your chance of attracting more customers and winning the Buy Box.
Sellers who have used Repricer since October 2022 have experienced remarkable results*
Increase in product price competitiveness
Increase in Buy Box win rate
How to use Repricer to keep your offers competitive:
Choose from 3 preset Repricer strategies or create custom ones and set your price minimums:
- External Price: Stand out by beating or meeting prices on other platforms.
- Buy Box Price: Set Repricer to automatically makes updates to help you beat the Buy Box price on Walmart.com.
- Competitive Price: Use a combination of the first two strategies and compete with whichever price is lowest.
Dynamically reprice items with strikethrough promo pricing:
- Set up promotional pricing by following these guidelines
- Make sure your List Price** qualifies your product for strikethrough promo pricing
- Switch Repricer on/off to enable automatic price adjustments*** for eligible items
The Repricer is a powerful tool and can be a great addition to your catalog growth strategy. Use it to close the gap between your prices and competitors’ prices to help drive more sales.
In conclusion, growing your catalog on Walmart Marketplace is crucial to staying successful on Walmart.com. Use the above tips and solutions to stay ahead of the curve and meet customer needs. With the right approach, you can continue to expand your catalog and thrive as a seller on Walmart Marketplace.
*Walmart first-party data (September 2022 – February 2023).
**To validate your products for strikethrough pricing successfully, you will need to make sure your item’s List Price is either the 90-day median price offered on Walmart.com (excluding special promotions) or the manufacturer’s suggested retail price. Maintain strikethrough pricing by keeping the List Price up to date.
***Repricer will adjust the promotional pricing down to ensure that items still qualify for the strikethrough pricing.
1 Attitude & Usage Study, 2022