Walmart averages daily revenue of roughly $1.5 billion. Every day, marketplace sellers use the Walmart API to maximize profits by repricing their marketplace listings to outperform their biggest competitors.
For dropshippers, winning the Walmart buy box is critical to success. The best Walmart repricers can help your profit margins grow as you dominate buy boxes central to your business.
If you want your eCommerce business to retain its competitive edge in a tight marketplace, having a robust repricing strategy is a good place to start. Let us show you how to streamline your processes and maximize profits in a few simple steps with this list of repricing strategies that work.
Why Use a Walmart Repricer Software Over Manual Pricing?
If you want to generate more revenue, maximize profit, and achieve accuracy with correct e-commerce data, a top Walmart repricer puts you in charge.
Getting the buy box on Walmart depends on several factors including your price, your shipping policy, and your performance. If you have a lower price compared to your competitors, you will most likely win the buy box.
A Walmart repricer will tweak your price, based on certain parameters you set, to ensure you have a lower price than your competitors. It does this by scrapping Walmart’s data to accurately set a good buy box-winning price.
The alternative to this is looking through all your competitors to ascertain the lowest price you can set. This can be time-consuming and even inaccurate as your competitors are most likely using a Walmart repricer that will lower the price you set even further. You will not be able to keep up with this for much longer.
Using Walmart Repricer Software is preferable to manual pricing because it allows for the best Walmart repricing strategies that will boost your chances of getting the Walmart buy box.
With top Walmart repricing software, you can:
- Research Items with Real Time Pricing Information
- Use a Strategy for Winning the Buy Box
- Get Repricing Strategies with Automated Repricing
- Increase Sales and Profit Margins
- Achieve Your Marketplace Business Goals
- Beat the Competition and Sell What You Love!
There are many reasons why dropshippers use a Walmart repricer. If you’re looking for the best Walmart automated repricing strategies for winning the buy box and gaining customers, search no further.
Top Walmart Repricing Strategies for Sellers in 2023
Here are the top Walmart repricing tool strategies every seller needs to know when using an automated Walmart repricer in 2022.
(1) Set Your Minimums and Maximums
You can easily formulate your own strategy within any automated Walmart repricing tool.
Sometimes, you may sell a product at a minimum price to try to win the Walmart buy box based on low price alone. Other times, a seller may opt for a higher price value that, when combined with other favorable metrics, can potentially claim the buy box as well.
Based on buy box price data, you can determine a competitive selling price with the best profit margin for your business.
Fortunately, top Walmart repricers can align your price with minimum or maximum prices that make sense to the profitability you desire. When competitor products go on sale, for instance, the tool can adjust your prices within your pre-determined range so you remain competitive.
(2) Track Your eCommerce Competitors
When you sell something, you need accurate information about other sellers. Is your competition concerned with profit through volume sales or limited sales with high-profit margins?
What’s your business aim? Are you competing for more buy boxes with strictly low prices or are you trying to optimize other factors, like delivery time? With an automated repricer, you can see updated orders and buy box reports, price change histories, and other various data points.
This allows you to keep an eye on your competitors in real time.
(3) Maximize Profit Through the Walmart API Marketplace
If you want to win the buy box, you’re going to need to use your Walmart repricing tool in conjunction with the Walmart marketplace information. This will ultimately help you maximize profit.
Between Walmart’s API and your Walmart repricer tool, you can see prices, stock levels, orders, returns, buy box data, and more.
This can help you find easy ways to remain competitive.
When dropship sellers use a top repricer, they can get fast price adjustments. By using the sales analytics of repricing software, you can automatically enjoy nuanced, competitive, and dynamic changes.
(4) Maintain Stable Walmart Automated Repricing Strategies
Whether you want to pursue the buy box with the lowest price or keep your prices somewhere in the middle of the market, you must allow your pricing software some time to adjust. Set the parameters and allow the repricing software time to load these changes.
If there’s additional insight needed, check with e-commerce software, other repricers, the Walmart Seller’s App, and whatever you do, keep an eye on your seller account data!
(5) Think About Your Overall Service, As Well As The Buy Box
Many sellers want higher profits from each listing, so they think if they just lower their prices, the business will be better. This race to the bottom can be disastrous! You won’t necessarily win the buy box just because customers search for low prices.
You must also consider shipping time, the volume of inventory, feedback, shipping arrival, fulfillment method, and more. If your product doesn’t deliver on time and the stock is low, it doesn’t matter how competitive your price may be.
With an advanced repricer tool, you can view this data and make manual adjustments or set parameters for automated adjustments.
(6) Adjust for No Competition
You may feel good because your dropship listing has zero competition. As a result, your listing price may be high. However, you shouldn’t be too hasty.
Try setting your price where the market predicts it may be, or where other products outside Walmart’s marketplace are already positioned.
If you don’t want to manually change a price listing, use a top Walmart repricer that automatically adjusts for zero-competition products.
(7) Consider How You Manage Your Dropship Inventory
If your product isn’t well stocked, you can’t win the buy box. However, you don’t want to be sitting on excess, outdated products either.
It doesn’t matter if, for example, you have the most sophisticated Walmart repricing software on the planet. If you can’t fulfill the order, the algorithm will not favor you, and your competitors will take the buy box.
Fortunately, Ecom Circles offers complementary tools that work within repricing software to update the pricing information and track demand and supply. Make automated inventory control part of your Walmart repricing strategies.
FAQ: Understanding the Ecom Circles Repricing Software
There are numerous Walmart repricers out there, so if you want to optimize and streamline your pricing, selling, and analytics all in one, you need reliable software.
What Makes the Ecom Repricer So Special?
This software works for both Walmart and Amazon. It updates every 30 minutes to determine any new orders and processes the buy box hourly.
What Does the Automated Function Do?
The innovative automatic function imports all product costs from all available third-party systems to maximize profits and improve sales velocity.
All products are repriced based on the latest fluctuations in the market and competitors’ performances.
Does the Software Avoid a 'Race to the Bottom'?
The Ecom Circles Repricing Software matches competitor prices rather than undercutting them. This allows you to have the highest profit margins possible while still winning the buy box.
How Can I Formulate My Repricing Strategies?
You can create, edit or delete your strategies at any time. You can devise strategies for individual items or item groups. You can even formulate strategies that compete with the marketplaces of Walmart and Amazon.
If you’d like to compete against Walmart’s internal repricer, you have an opportunity to truly differentiate your business. For example, while Walmart API data can be inaccurate 40% of the time, the Ecom repricer tool relies on proprietary scraping from many third-party systems.
This ensures a higher validity of data and makes it easier to employ pricing strategies within the Ecom tool than the Walmart repricer.
What About Analytics and Reporting?
The proprietary dashboard offers full transparency reports on the buy box, sales data, profits analyses, price changes, and more. This allows you to track critical variables, metrics, and analyses.
If you’re struggling with repricing and making money, feel free to book a free trial and sign up for an onboarding meeting. Let Ecom Circles take your business above and beyond.