Walmart is nailing it. The world’s largest multi-channel retailer is taking the online world by storm with the customers, products, and tools to rival Amazon. But with more than 80 million products for sale and seller numbers increasing by the day, knowing how to run successful promotions on the marketplace is crucial for moving your products.
This article looks at the benefits of Walmart promotions, how to run them, and how fast shipping, discoverability, and product reviews can transform them.
The popularity of Walmart’s marketplace
Walmart is offering online shoppers and sellers an alternative from Amazon, with customers attracted by brand names, free fast delivery, product variety, and a reliable name; and with online sellers drawn to the 110 million unique visitors per month, strong seller community, sales features, and zero monthly or setup costs.
As its popularity increases, Walmart continues to develop it seller tools to help online retailers increase customer numbers and sales. One of those tools is Walmart Promotions – a price reduction campaign available to all Walmart marketplace sellers.
What are Walmart Promotions
Making a big impact in a short space of time, Walmart Promotions allow online shoppers to benefit from more than just fast and free shipping. Sellers can use promotions to temporarily reduce the price of a product under one of two banners.
Slow moving stock, over-ordered items, or just an end of season clearout – clearance promotions enable you to shift your inventory quickly by offering a lower price.
Want to increase the sales of a certain product? Reduced promotions are used for savings greater than $5 on items over $100, or 5% on items under $100.
You might have also heard about a third promotion called base. This is a legacy promotion that can no longer be used, so if you see it, ignore it.
Benefits of Walmart Promotions
The benefits of using clearance and reduced promotions are simple:
- Increased visibility through promotion badges and display of comparison and sale prices;
- Increased clicks, because of lower pricing;
- Increases sales of the reduced product; and
- Increased cross-sales and up-selling, as customers browse your other items.
However, successful promotions require more than just a drop in price (but we’ll come to that later).
Running Walmart Promotions
Any Walmart marketplace seller can run a reduced or clearance promotion, as long as it conforms to Walmart’s guidelines. First, you need to ensure that you:
- Create no more than 10 promotions for an item at one time (none of which can overlap);
- Create promotions at least four hours before the start date;
- Create promotions that last no longer than 365 days from the current date and time; and
- Create promotions of a price lower than what can already be found on Walmart or other online marketplaces.
Once you have complied with Walmart’s guidelines, you can begin setting up your Walmart Promotions in the Seller Center, using the Bulk Price Updates feature to enter the following information:
- Price (‘was’ price)
- Promo price
- Promo type
- Promo start date (in UCT)
- Promo end date (in UCT)
- Promo stats (active)
You can edit the promotion price and type at any time, or delete a promotion by changing the status to “delete all”.
Running successful Walmart Promotions
As mentioned, the success of Walmart Promotions (and of selling on Walmart’s marketplace generally) relies on more than the promotion itself. The following tactics should be combined with your promotion to increase your visibility, ratings, and sales, with little extra effort.
Winning the buy box
The hottest competition on Walmart is the buy box. Items sold by multiple sellers feature one seller in particular on the product page, with other sellers appearing less prominently further down.
Promotions winning the buy box receive a special promotions badge (yellow for clearance and red for reduced), and prominent display of the ‘was’ price and savings. Low pricing and fast shipping are a must to stand a chance of winning.
Walmart Free 2-Day Shipping program
Walmart’s fast and free delivery program, Walmart Free 2-Day Shipping, increases the conversions of promotional products by:
- Adding a fast shipping tag to search results, making it stand out against competitors;
- Showing your listing when customers use fast or free shipping filters in search;
- Increasing your Walmart organic search result placement;
- Providing customers with extra value in the form of fast shipping; and
- Increasing your chances of winning the buy box.
Eligibility depends on either self-fulfillment and satisfying Walmart’s strict shipping metrics or using Walmart’s preferred fulfillment provider Deliverr for automatic acceptance into the program.
84% of customers trust online reviews as much as they trust their friends’ reviews. Walmart shoppers can leave both retailer and product reviews, and you can increase both by creating an outstanding buying experience that your customers want to share.
Provide accurate delivery estimates, prompt tracking details, professional deliveries, and exceptional customers service to boost your five-star ratings.
Finally, consider whether your promotional price can be reduced any further with savings made elsewhere by:
- Using a fulfillment calculator to see if outsourcing your fulfillment to an all-inclusive provider with no added costs, long-term contracts or hidden fees can reduce your shipping and warehousing costs;
- Delivering items in non-branded packaging to save money and reduce your shipping times;
- Using all-inclusive pricing to remove shipping fees.
Walmart Promotions: Key takeaways
So there you have it, Walmart Promotions are a great way to visibly reduce your products, highlighting the listing and savings to potential customers, enticing them to buy. But to truly succeed with Walmart Promotions, you need to sign up for Walmart’s Free 2-Day shipping, expand your brand, win the buy box, and maximize your positive customer reviews.