Walmart Repricing Software
What is Walmart Repricing?
Walmart repricing automatically changes your prices based on the market.
A change in the price of goods is something that often happens in stores, and at times does happen unexpectedly, the implication of this is that the seller has to manually change the price of the goods each time there is a change so as to be ahead of other competitors and of course make more sales. A repricer allows the seller to automatically adjust the price of each good against other competitors.
A change in the price of goods is something that often happens in stores, and at times does happen unexpectedly, the implication of this is that the seller has to manually change the price of the goods each time there is a change so as to be ahead of other competitors and of course make more sales. A repricer allows the seller to automatically adjust the price of each good against other competitors.
What is the Buy Box?
Winning the Buy Box drastically increases your sales by making your offer the default.
A buy box is the “Add to Cart” button often seen next to each product. There are multiple sellers for each of every product on the list, so there is competition as regards whose product will interest the customers, the price difference is one of the things the customers consider before selecting any product. The probability that a customer will select the product with a lesser price is higher than that of selecting one with higher price.
A buy box is the “Add to Cart” button often seen next to each product. There are multiple sellers for each of every product on the list, so there is competition as regards whose product will interest the customers, the price difference is one of the things the customers consider before selecting any product. The probability that a customer will select the product with a lesser price is higher than that of selecting one with higher price.
How does the Walmart buy box work?
The best way to always secure the buy box is to use the Walmart repricer. It is a software that engages algorithms and this dynamically evaluates the prices for each product and then automatically adjusts the price with that of the competitors, as well as values imputed by the users, after which it then adjusts the price of the product in order to win the buy box.
What the seller needs to do is to select a strategy, this is done by setting a maximum and minimum price value, and once this done, the repricer starts work immediately, first by assessing the available market variables for the product, and then it ascertains the best price for the goods in order to win the buy box and make profit. Finally, it ensures that the new price is neither above the maximum price value nor below the minimum price value which the seller sets. What this does is that it helps to secure the buy box, maximize profit, and prevent loss on sale of the product. This repricer responds to every price change on the goods and adjust the prices each time the price value of the goods changes.
As a business owner, the ultimate aim is to always to sell more at the best price so as to maximize profit. The major challenge of this is that there are a lot of sellers of the same product, then the question of how to beat any competition pops up. Walmart automated repricer is the perfect answer to the question, this software allows you to adjust your product price and ensure that your product is available at a price that is enticing to the customers, also ensures that you as the business owner does not run into a deficit.
Here are two examples of how the repricer software works:
| Buy box price | $20 |
| First seller’s price | $18 |
| Second seller’s price | $22 |
| Third seller’s price | $21 |
| Your price | $22 |
| Your maximum price | $25 |
| Your minimum price | $19 |
If another seller is winning the buy box i.e. the price of your product is higher than the price of the buy box.
In the above example, you are losing the buy box because the price of your product is higher than that of the buy box, when this happens, the Walmart repricer will automatically update the price of your product to a value that is in between your maximum and minimum price limit, $19.5 in this case.
| Buy box price | $20 |
| First seller’s price | $22 |
| Second seller’s price | $23 |
| Third seller’s price | $24 |
| Your price | $20 |
| Your maximum price | $25 |
| Your minimum price | $19 |
If your price is lower than the buy box price.
In this example, your price is lower than that of the buy box, so in order to maximize profit, the repricer automatically updates the price of your product to a value that is above your minimum price but lesser than or equal to your maximum price and still less than a competition, hence the buy box price in this example will be set to $21, and so your product wins the buy box keeps the buy box higher price than before.
