Walmart Repricing Tool in Action
Walmart Repricing is functionality that automatically changes your prices based on market prices.
What is Walmart 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:
- 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 which 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 $1 below the winning price, to get you the buy box. We recommend this value to be around $0.50.
- 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 are winning 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. We recommend keeping this value 1 or more.
- 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 right top 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 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 changes to the product page usually with a few minutes delay. GeekSeller receives it automatically and takes action immediately.
- Where GeekSeller takes data for the repricing tool?
We use the official Walmart Marketplace API.
- 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 repricer will not take effect, Walmart will ignore any attempts of price changes. You should NOT run promotions on products that have a repricer turned on.