The world of e-commerce is growing and becoming more competitive every day. At Walmart for example, the battle to retain the buy box for various products is ever ongoing. It is difficult for the average seller to keep tabs on various products at the same time. This makes it almost impossible for you to retain the Buy Box as much as you would want to. In such a situation, you need something more than a human. You need the Walmart Repricer.
What Is Walmart Repricer?
The Walmart Repricer is a tool that’s part of the Walmart marketplace integration. The tool uses an algorithm that continually monitors the pricing of products and makes adjustments to your pricing. This helps when you are selling a highly competitive product. It monitors the prices set by your competitors, evaluates everything, and regulates your pricing to ensure you keep the Buy Box.
How Does The Walmart Repricer work?
As earlier stated, the Walmart Repricer helps you retain the Buy Box. Now let’s define the Buy Box in the most simple way.
What’s the Buy Box?
The Buy Box is the “Add To Cart” ribbon that you see besides a product listing on Walmart. While it seems like a simple ribbon, there is a whole lot of activity going on around that ribbon.
The reason for the Buy Box ribbon is to help customers make quick purchases. There are three criteria used to determine who wins the Walmart Buy Box. They are:
- Competitive pricing
- Inventory levels
- Fulfillment speed and method
But our focus here is competitive pricing.
At Walmart, multiple sellers offer the same product. Walmart doesn’t just display all the different sellers openly. Instead, it uses The Buy Box to display the seller with the most competitive price. Underneath the Buy Box is a section that lists out other sellers that sell the said product. But it’s most unlikely that the sellers listed below get to close any deals. This is because the seller that wins the Buy Box gets to make the sale almost 100 percent of the time. This is the reason why the Buy Box is important. The one with the Buy Box wins the sales.
This is the battle for the Buy Box. It’s tough and competitive. Just a difference of one or two cents could be your undoing. So the challenge here is how you monitor the change in prices and make adjustments for multiple products all over Walmart. This is where the Walmart Repricer comes to the rescue.
How The Walmart Repricer Tool Helps You
The only effective way to keep up with an algorithm is to use another algorithm. Walmart works by an algorithm that chooses the best fit for the Buy Box. This means changes can happen in split seconds. The Walmart Repricer works with an algorithm that is wired to do the following:
The first step is a retrieval of the prices of all your competitors. The Algorithm sends a request to Walmart. That response is a list of all your competitors and their respective prices.
The next thing the algorithm does is to compare the retrieved data with your pricing. Through this process, it can make the next decision.
When it’s done with the comparison, it calculates new pricing based on the minimum and maximum you would have earlier inputted.
The final step in the process is a checking of the new price to ensure that it is within the minimum and maximum parameters you have earlier set.
The days of worrying about the Buy Box is over. With the Walmart Repricer Tool, you can automate the whole process and go to sleep. While the algorithm works for you, your competitors now have two algorithms to battle with. Now that makes you the king of the Buy Box.