Walmart Repricing Tool in Action
Walmart Repricing is a functionality that automatically changes your prices based on market prices.
What is Walmart’s Buy Box?
Walmart, similar to Amazon, uses a concept called Buy Box – where a seller with the best offer is listed as a default choice for buyers. If you are winning a Buy Box, your offer goes automatically to a cart when the buyer clicks the “Add to cart” button. There are several factors that determine who wins the buy box. However, the most significant factor is the competitiveness of your product price. Below, we show how our repricing tool can automate the adjustment of prices to help you with the buy box.
How it works
Go to Walmart GeekSeller Panel > Tools > Repricing. You will see a table with these columns:
This is a simple view for easier management once you get a grip of all the repricer settings. However, for the first time, we recommend you to switch to Advanced view to learn all of the repricer functions.
- Current price in GeekSeller – this is your price in the GeekSeller panel. Prices determined by the repricer are marked as “Adjusted by Repricer”.
- You – this is your current price on Walmart.com.
- 1st – this is the price that is winning the buy box.
- 2nd – this is the second-best price, not a buy-box winner.
- Diff – this is a calculation showing how far your offer is from the buy box winner. “0” means your price is the same as the buy box winner.
- Buy Box (Yes/No)- indicates if you are winning the buy box.
- Min – a minimum price that you want the repricer tool to be set. We will never price your product below this value.
- Max – a maximum price that you want the repricer tool to be set. We will never price your product above this value.
- Bid – when the repricer adjusts a price, it makes your offer different by the bid value. For example, if a bid is $1, and the winner of the buy box is $10, then the repricer will try to adjust a price of $1 below the winning price to get you the buy box. We recommend this value to be around $0.50. If you use a bid of $0, the repricer will try to match the price of the buy box winner.
- Bid Up (on/off) – bid up is the functionality that allows your repricer to increase the prices of your products if possible. For example, if you win a buy box with a price of $10, and the 2nd best price is $15, then the Bid Up functionality will increase the price of your offer to $14 (If your bid value is set to $1). The item will be $1 below the other competition, being the lowest price, allowing you to win the buy box. The value to which the Bid Up functionality can increase prices is limited by your Max value.
- Bid Up Interval (in days) – when you put 0 here, the repricer will try to use the Bid Up functionality anytime the market conditions allow it. If you put 1, we will not increase the price of your products more often than once a day. To increase the chances of winning the buy box, it is not recommended to keep the value at 0. This is because constantly changing the value multiple times a day may not be efficient, as API updates usually have a delay. Therefore, it is advised to keep the value at one or higher.
- Disable / Enable – you can turn on and off the repricer per product with a click of a button.
Updating the repricer tool settings in bulk via file.
In the top right corner of the page, you can find the import and export products link. First, export the file to have a template that you can use to import back into GeekSeller. Remember, you do not need to import the entire file. You can import a file with just rows (SKUs) that you want to update. Remember to use values 0 and 1 to indicate whether the option is ON or OFF.
See the history of the repricer actions.
Just under the SKU of your products, you can see the link Repricing History.
This link will take you to a page with details of all the actions that the repricer initiated. Each row is one action, with details about the current conditions at that moment, action taken, and a reason for the action.
- How fast is GeekSeller’s repricing tool?
Walmart provides information about changes to the product page with very inconsistent details. We might receive data within a few minutes, but delays might take hours or even days. As soon as GeekSeller receives updated data from Walmart API, we will take action immediately.
- Where GeekSeller takes data for the repricing tool?
We use the official Walmart Marketplace API, data is provided by Walmart via:
– Reports – files generated on demand that our system downloads and analyzes; unfortunately, reports provide access only to a limited number of products from the catalog, data available in reports is limited, and it usually takes more than 12 hours to get the report from Walmart.
– Webhooks – this is a technology that Walmart provides to notify GeekSeller when there are changes on a listing. Unfortunately, this is not always reliable, and Walmart notifies about changes with hours of delays.
- How does the repricer deal with unpublished products due to the high prices?
If Walmart will unpublish your product due to the high price, our system will recognize it, assign a Minimum price you have set and turn off the BID UP function. This works as a safety mechanism to republish your products as soon as possible and avoid such situations in the future. Please keep in mind to always set your Minimum and Maximum price reasonably.
- Can I have my repricing tool turned on with active Walmart promotions?
Active Walmart promotions disable adjustment of prices on your products. Changes applied by the repricer will not take effect, and Walmart will ignore any attempts at price changes. You should NOT run promotions on products that have a repricer turned on.
- Does the repricer work on products with Published status only?
We update prices on all the products, regardless of the status. This is because Walmart not always provides us with the most updated status, so even if a product is shown on GeekSeller as Error or Draft, and we have data allowing us to do the repricing, we will try to submit data to Walmart.
- Walmart offers its own repricer. What’s the difference between the native repricer and the one provided by GeekSeller?
The major difference is that Walmart’s repricer focuses on lowering prices to win the BuyBox, without ever increasing them. GeekSeller tools, on the other hand, can increase the prices when market conditions allow for such a move while still keeping winning the BuyBox winning as the goal.
- After a few hours, I still do not see any changes to the product price, even though the conditions on Walmart.com indicate the repricer should react.
This happens because GeekSeller did not receive yet updated information about your price and competition from Walmart API.