Walmart Marketing Strategy: 6 Tips for Success

Walmart is one of the retail giants in the world, known for its cost leadership strategy and unique selling proposition of offering products at "everyday low prices." To thrive on this platform, you must devise and adopt an effective Walmart marketing strategy.

But what makes an effective strategy? 

Many factors go into it, from specific business needs to industry suitability. To help you find the most suitable option for your brand, let’s explore six strategies to drive your business to success in the Walmart marketplace. 

Walmart’s Business Model

Walmart is known for its huge physical stores, but today it can compete against giants of the online shopping world. In 2023, Walmart's revenue is already at 611 billion dollars.

Here are the four primary business models of Walmart that cater to its growth:

Walmart US

With operations in all 50 states, Walmart has been one of the most prosperous American retail companies since its founding. Walmart U.S. is responsible for 66% of the company's overall sales.

Walmart International

Walmart continues expanding outside the United States and operates in 27 countries. Walmart International operates under different formats:

Sam’s Club

Sam's Club is another Walmart business model comprising members-only warehouse clubs available in 50 U.S. and Puerto Rico states. It contributes 14% to Walmart's overall sales.

Walmart Distribution Centers

Walmart has over 190 distribution centers, and its operation is one of the most efficient in the world. Walmart's transportation alone is impressive. The enterprise has 80,000 trailers, more than 13,000 drivers, and 11,000 tractors.

6 Practices for a Successful Walmart Marketing Strategy

The numbers are impressive just by looking at it. According to recent data, Walmart has 240 million customer visits weekly across their physical stores and ecommerce websites. They have roughly 160 million products to choose from over 150,000 sellers.

The Walmart marketplace has clearly increased its digital presence and is now directly competing with the Amazon marketplace. But just like any online selling platform, it is also competitive. 

Racking up on sales and driving traffic to your business requires plenty of work. But with the proper marketing strategies, boosting your business is possible. If you're an ecommerce seller and have yet to join the Walmart bandwagon, now is the time to grab the chance to earn large potential sales. 

Here are six practices to incorporate into your marketing strategy.

Target the Most Competitive Price Point

The product price is a big consideration in Walmart customers’ purchasing decisions. In Walmart marketing, you are likely to achieve the Buy Box feature with the lowest price. But remember, you don't need to always race for the lowest store price.

Here are rules to remember when targeting a competitive price point for your Walmart stores.

Look for a New Target Market

Exploring multiple business paths is one of Walmart's most successful marketing techniques. If there are growth opportunities, don't be afraid to take them. Opening your company to new (and relevant) prospects can significantly expand your presence worldwide.

How do you think huge enterprises grow their business? Walmart has over 11,000 stores spread across 27 different countries. You don't have to offer your products in all countries. Starting with the nearest or most convenient for your business is a great start and will surely cater to your business growth.

Excellent Customer Support Is a Must

Sometimes, the factor that separates online selling platforms is customer service. A positive customer experience makes buyers trust and repeat purchases from you. However, good customer service is hard to define in a few words. Is it replying to customer messages diligently? Is it about processing refunds and returns quickly?

Here are some key metrics to help you provide top-notch customer service to your patrons.

Take Advantage of Walmart's Minimal Fees

Walmart offers an easier way to generate income compared to other selling platforms. When you have an Amazon account, it feels like you only pay fees for subscriptions, FBA, shipping, storage, and more. These fees can be heavy if you're starting an online business.

If you want to save money and boost your income faster, take advantage of Walmart's minimal fees. There are no set-up, monthly, or annual charges for maintaining your account. Walmart only charges referral fees depending on different product categories. 

Once you have confirmed your product categories on the retailer agreement, you can enjoy the many features of the Walmart marketplace.

Be Smart About Your Promotional Strategies

The most effective and fool-proof way to attract customers to your product listings is by running different promotions. There are several marketplace techniques you can use for your Walmart product strategy. Here are a few to consider.

💲 Reduced-priced promotionsA temporary pricing strategy where sellers offer low product prices to entice customers to purchase. Run this promotion if customers can save at least 5% on their purchases or at least $5 on items over $100.📣 Clearance sales promotionsItems are placed in a special category and heavily discounted to help sellers move their stagnant inventory. This is ideal for products about to be discontinued or are up for inventory clearing.🛒 In-cart and checkout promotionsProduct prices are only shown when customers add them to their cart (in-cart) or when a customer logs in to their account and provides their shipping information (checkout).

Find the Best Distribution Center and Location

An efficient supply chain is essential to succeeding as a seller at Walmart. First, you must leverage the ecommerce platform’s intensive distribution channel design. It ensures your product reaches customers in the fastest time possible. For example, they provide designated trucks to handle large items and guarantee their good condition until delivery. 

Next, you can choose the optimal location for your products strategically. This will simplify your shipping process and inventory to meet customer demands. Always track your inventory to meet your customers' needs successfully.

Manage Your Walmart Account Right with Seller Interactive

The online marketplace is a competitive landscape. There are always learning curves, but scaling your business with us can make the venture easier and more guaranteed success. 

Seller Interactive’s Walmart account management services will set the stage to support your business growth. Our experts will provide key Walmart marketing strategies to help increase your sales and conversion rates.

You can trust our experts to find the best strategy for growing your ecommerce business. What are you waiting for? Don't get left behind. Book a call with us today, and get to know more about our Walmart marketplace services!