The Importance of Preferred Price in Walmart’s Win the Buy Box Strategy
When it comes to selling on Walmart, getting your pricing strategy right is crucial. One key element to focus on is the preferred price setting in the SellerActive by Cart.com repricer tool. This might just be one of the most important settings to get right, especially for winning the coveted Walmart Buy Box. Let’s dive into why this is so important and how it can impact your sales.
If you haven't used repricing software before check out these pages:
Why Is the Preferred Price So Important for Walmart Pricing Strategies?
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Fallback Price When There's No Competition
Imagine you’re selling Widget A on Walmart, and you’re using the Win the Buy Box strategy. Initially, you have four competitors selling the same item. Now, if those competitors stop selling Widget A, you become the only seller. Without a preferred price, your item might stay at a low price, which isn’t ideal for maximizing profits. You definitely don’t want to keep selling at your minimum price when there's no competition.
Setting a preferred price ensures that if competitors drop off, your price doesn’t stay at rock bottom. Instead, it moves to a more profitable level, helping you make the most out of being the sole seller.
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Repricing Only Moves Downwards
Another reason setting a preferred price is crucial is because the Win the Buy Box strategy only reprices downwards. This means if your item hits the minimum price and doesn’t own the Buy Box, without a preferred price setting, it’ll stay at that minimum price indefinitely. By setting a preferred price, once your item hits the minimum and still doesn’t have the Buy Box, the price will bounce back to your preferred level and start repricing downwards again to win the Buy Box.
Why Repricer Tools Matter on Every Channel
Using repricer tools like SellerActive can significantly boost your sales and chances of winning the Buy Box. The Buy Box is where the majority of sales happen on Walmart, and having competitive, optimized pricing is key to securing it. The preferred price setting ensures your pricing strategy remains flexible and profitable, adjusting intelligently based on the competitive landscape.
As always, it’s important to regularly monitor your prices. Make sure your preferred price, minimum price, and overall pricing strategy align with your business goals. A well-set preferred price can help you navigate fluctuations in competition, ensuring you remain profitable and competitive.
How to Set a Preferred Price for Walmart Listings Using SellerActive by Cart.com
There are a few ways to add a preferred price within SellerActive:
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Listings Export and Import
You can export your listings, add your preferred price, and then reimport the file. This method is great if you have a lot of SKUs to update at once.
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Listing Details within the SKU Pane
This method allows you to manually set the preferred price for each SKU individually.
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In Listings Workspace
You can also set the preferred price directly within the Listings Workspace.
Find out more about the Walmart Win the Buy Box Strategy in the video below:
