The sun is high, the days are longer, and the customers are ready to shop – summer is officially upon us! For retail giants like Walmart, the summer months often signal a season of high sales, and for good reason.
As a Walmart seller, this season opens up a world of opportunities. You might be asking yourself just how much inventory you need to make the most out of these busy months. Should you go all-in or take a more cautious approach? Worry not, because we’re about to delve into this very topic.
In later paragraphs, we’ll explore the nuances of summer inventory management, taking into account researched data to see which categories customers are spending more on.
We’ll also discuss tips and techniques for managing Walmart inventory to maximize your sales this summer period.
So, sit back, grab a cool drink, and let’s navigate the world of summer sales at Walmart together!
Understanding Walmart Summer Sale Trends
Consumer behaviors and shopping preferences continue to evolve post-COVID alongside increasingly rapid advancements in technology and e-commerce.
Businesses small or big are all looking to get to know their customers better, and ways to stay up to date on the latest summer trends. Summer 2023 will have its preferences as the habits of America’s consumers are painting a unique picture of current and future market trends.
From what we gather, here are some of the summer consumer market trends you should know and potentially take advantage of:
The wave of environmental consciousness is sweeping across Walmart consumers as they exhibit an increasing preference for eco-friendly products.
This trend aligns with the current ethos of mindful consumption – where buyers deliberately choose items that have less impact on the environment.
Particularly notable is the popularity of sustainable materials like bamboo and reclaimed wood. These materials are gaining favor as customers reassess their purchasing decisions, especially during the spring cleaning season.
This period often sees people giving their home decor an environmentally friendly makeover, as they seek to reduce their ecological footprint.
This shift in consumer behavior presents a unique opportunity for Walmart sellers. By tapping into this green trend, sellers can align their product range with the eco-conscious values of their customers.
The Minimum The Better
Minimalism has been on the rise and will continue to be a priority for the environmentally conscious customer base.
People donate items that cause unnecessary clutter in their spaces and look for pieces that are functional in every possible capacity and make the most out of their space, i.e., organizational items with simple designs.
Spice It Up
With many of us spending more time at home, a desire to refresh and renew our spaces is gaining momentum. This includes changes like installing new windows, blinds, shades, sheer panels, thermal panels, blackout curtains, and accompanying accessories like curtain rods.
As a Walmart seller, this presents an opportunity. Offering affordable, stylish, and user-friendly window treatments could be an effective way to help customers improve their spaces without breaking the bank.
Integrating popular trends, such as smart devices and automation, can provide added value to your products, giving them an edge in the market.
In addition, aligning your offerings with the current eco-friendly and minimalist trends as we discussed earlier, can attract conscious buyers.
For instance, curtain rods and accessories with natural finishes, wood surfaces, and mid-century style designs cater to the minimal & rustic trend, while modern touches appeal to those seeking a fusion of classic and contemporary.
Summer usually comes with a lot of holidays and it’s only wise as a Walmart seller to get in on the action.
Memorial Day and Fourth of July celebrations often inspire customers to enhance their outdoor living spaces. This includes purchases of backyard furniture and accessories, and party essentials like plates and cups.
Patriotic décor in red, white, and blue, with a modern twist, is also in high demand during these holidays.
To cater to this, as a Walmart seller, consider offering vibrant pillows that add a pop of color to outdoor seating arrangements, modern wall art for an updated look, and cozy blankets perfect for picnic lounging.
Another hot item is the grill pan, a must-have for any summer BBQ, known to impart that distinct, delectable ‘taste of summer’ to food.
This time of year brings an increased demand for certain types of home products. They have one thing in common means giving little touches to the already accessorized space to leave a big impact on the mood and style of a home.
These can’t always be items that cause major changes for example new furniture sets or appliances, but rather intentional accents that can transform a space for the better.
These include candles, diffusers, wall décor & art, doormat & rug sets, poufs & floor pillows, throw pillows, and picture frames. The more options and color variants in these categories, the better.
How Much Walmart Inventory Do You Need as a Seller in Summer?
According to this research, 28% of online shoppers say their spending increased in the second quarter of 2023, with notable increases in categories such as outdoor and gardening, vitamins and supplements, beauty and personal care, and clothing.
This might signify an upward trend in some of these categories in any given year, but this is no ordinary financial year. There’s a lot of economic uncertainty which is driven by the higher inflation rates that kicked into full gear in 2021 and has not exactly eased up since then.
While we advise you to stock up for the summer, you might want to be careful about going all out on buying inventory.
We advise you to first get 30% more inventory of what you normally sell in a given month, especially for summer-selling items and product categories like clothing/clothing accessories, water bottles, bike gear, beachwear, running shoes, and so on.
This should give you a decent starting point to get in on the summer sales action.
From there, you want to monitor your sales and make adjustments (like buying more inventory) when needed.
You also need to stock up on items in product categories that have a high chance of selling in the summer.
Based on the same research cited above, these are the top product categories customers are spending on in Q2 2023:
- Home & Kitchen
- Beauty & Personal Care
- Outdoor & Gardening
Of course, there are nuances to how customers will spend in these categories. This list is just to point you in the right direction. Do your product research to be more certain of items to list on your Walmart store.
The Role of Walmart Inventory Management in Maximizing Sales
Now that you have a clearer idea of how much Walmart inventory you need this summer, you can plan your future sales this season.
And as we mentioned earlier, you need to keep an eye on your inventory, which brings us to inventory management and how it can help you in maximizing your sales this summer
You must always be aware of how much inventory you have on hand, which may need your time, planning, and attention to detail.
A Walmart inventory management system is a data-driven software that tracks the Walmart inventory for you. It’s important to note that this inventory doesn’t just refer to the inventory that you keep in your warehouse or retail store.
It also includes the stock that you have in your offices or warehouses as well as the products that you have on backorder. These systems help you forecast demand and plan accordingly.
They also allow you to track the sales of each product so that you know which products are most popular.
Walmart Inventory management systems help you plan for spikes in demand like seasonal sales beforehand. They also allow you to keep track of the costs of each product so that you can minimize losses.
Inventory management systems also allow you to track product movement throughout the company. This can help track returns as well as identify theft.
Tools and Techniques for Effective Inventory Management
Managing inventory effectively, especially during high-sales periods like summer, is crucial for any e-commerce business. Here are some strategies and techniques to help you handle your inventory during this time:
Get rid of old inventory
Summer presents a unique opportunity to rid your store of old inventory because it is a season of flash sales, discounts, and promotions.
Old inventory can be used as complimentary items for your newest or best-selling products which will present an excellent opportunity to offer heavy discounts on those items and make a quick profit on them.
If you are using any of the most popular e-commerce platforms to run your store, chances are that you can automatically monitor inventory dips, and get notified every time a certain level is hit.
Automating the task of monitoring inventory will continue to match your order data with inventory data, whenever the selected threshold is reached, an action can be triggered suggesting you to restock.
Ecom Circles Walmart Automation Services provide all-encompassing automation services, handling everything from product listing to order fulfillment and customer service. We effectively manage your inventory, keeping track of stock levels and synchronizing them across various sales channels.
Invest in advertisments
A good strategy is to promote your discounts by creating email marketing campaigns.
You can use email campaigns, which should be used to offer discounts and promotions. Another form of advertising you should try is Walmart sponsored ads. You can customize these ads to target specific customers looking for your products.
Don’t rely on a single supplier. Diversifying suppliers can protect you against supply chain disruptions.
If you must rely on a supplier, make sure they have inventory ready to go when you have a massive surge in orders.
Another tip to effectively manage your Walmart inventory for summer is to forecast the demand and sales.
Data will play a helping hand to suggest which and how much inventory you need to buy for the summer season.
To keep things uncomplicated, here are three things to look at:
- Historical sales data of your e-commerce shop
- Online search trends of the products you sell
- Economic data of the states/countries’ demand comes from
The right interpretation of that data will help you determine the right prices/promotions to offer, based on customer demand and competitor activity maximizing your sales and profits.