Mmm, Buy Box. Those two words are enough to send a shiver of excitement down the back of any online seller. But when it comes down to winning one, the road can get a little tougher. You can simplify things with help from Repricer.com because we’ll show you why it matters, how you can work towards winning the Walmart Buy Box and what the benefits are.
What is the Walmart Buy Box?
Like Amazon’s Buy Box, the one on the Walmart marketplace is quite similar. It’s also an Add to Cart button that lets shoppers purchase something with speed and ease, benefitting both the buyer and seller.
In general, the Buy Box on Walmart operates in much the same way as on Amazon. An algorithm is used to determine which seller’s product belongs at the top of the search results, giving them more visibility to shoppers and helping themselves increase traffic and conversions.
However, unlike Amazon’s Buy Box, Walmart’s has its own distinct characteristics. Amazon demands its sellers have metrics at or above certain thresholds; Walmart does something similar, but there aren’t as many metrics to worry about. In fact, the two main areas you need to pay attention to are product quantity availability and price (including the lowest shipping cost).
Another difference is that Walmart Marketplace will only award a Buy Box to one seller, while Amazon rotates shares of Buy Box among deserving merchants.
Walmart Buy Box Metrics
As we noted above, you really only have to take care of two metrics, price and inventory availability.
- Price: Walmart is known for low prices, and you have to keep that in mind when setting pricing rules if you want to win their Buy Box. Even if it’s just a penny lower than your competitors, make sure you’ve got the lowest price (but don’t engage in a race to the bottom). But it’s not just the product price you have to factor in, as there are shipping costs, too. When you create your pricing rules, make sure you take both (product price, shipping cost) into account.
- Product Quantity Availability: Another metric Walmart Marketplace values highly is the quantity availability of your inventory. You might have the lowest price out there, but if your stock is running low, you’re severely hurting your chances of winning a Buy Box because your competitors might have more items available for purchase.
Tips on How to Win a Walmart Buy Box
The lowest price and best quantity availability are the two main things to focus on, but there are several tips to store away that can also help you.
- Constantly research your competitors to see what prices they’re selling their products at, then beat it by a penny to stay on top. Make sure to set your pricing rules to have a min price.
- Maintain good inventory management so you never run out of stock. It can be tricky to do this at certain times during the year, like post-holidays, but keep in regular contact with your suppliers to ensure you always have more coming in.
- Offering free shipping is a very good way of raising your competitiveness in winning a Buy Box. If you can’t do this, research, research, research until you find the best shipping rates available. This helps keep your overall product price down, increasing your chances of winning a Buy Box.
- While researching shipping options and costs, always make sure that your shipper is prompt and reliable. Buyers expect their purchases to arrive quickly, so get the products to them on time (or earlier, if possible).
- Amass as many positive reviews as possible. While not a direct influence on your winning a Buy Box, having great reviews helps convey trust to buyers and encourages them to shop with you. And the more buyers who purchase from you, the higher your sales; the higher your sales, the more you can lower your price (capitalizing on volume instead of profit margin) and increase your chances of winning a Buy Box.
- Be honest and accurate in your product descriptions. This ties in with building trust with your buyers and motivating them to shop with you in the future. Accurate product descriptions also correlate with positive buyer experiences, which can lead to them leaving positive reviews about the product and shopping experience.
- Use good packaging so that items arrive in the condition they were advertised.
- Offer top-quality customer support so you never lose out on a sale.
Winning a Buy Box on Walmart Marketplace is both easier and tougher than doing it on Amazon. While you might not have to worry about as many metrics, trying to offer the lowest price and best quantity can be difficult if you’re operating on thin profit margins. Luckily, Repricer.com can help you with that by carrying out your custom pricing rules every second of the day so you never have to lose out to a competitor. All you have to do is sign up now to start your free trial and move closer to getting that Buy Box badge on your product pages.
Related: 6 Amazon Repricing Myths Debunked