Monthly Archives: January 2022

Marketplace Repricing Tool

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A repricing tool allows sellers to dynamically reprice their listings on the marketplace as per the prices listed by the competing sellers to help them win BuyBox. The article will further explain what is BuyBox, how does repricing work and different types of repricers. This will help sellers on deciding which repricer will suite their needs and how to use a repricer to optimize profits.

Marketplaces like Amazon, Walmart offers huge opportunities for online sellers to increase sales and maximize profits. However, as the competition grow, online sellers need to come up with new strategies to beat the competition. The concept of Buy Box is driven by many factors but the product price is the most significant one. Winning a Buy Box has a major impact on the overall sales and profits.

Pricing STRATEGY

What is a Buy Box?

The concept of buy box is used by Amazon and Walmart. This is the page where the shopper begins the process of making the purchase and can simply add the listing to their shopping cart. The listings on Buy Box can be sold by many different sellers. Winning a buy box has a significant impact on the sales. Using a repricing tool significantly increases the chances of winning a Buy Box.

How does Repricing work?

A repricing tool uses clever algorithms or rules to dynamically evaluate prices for each listing and automatically adjust the prices as per the competitors and based on the price range added by the seller for winning the Buy Box.  The repricing tool would first assess the marketplace variables for the listing and then ascertain the best price based on the maximum and minimum price value entered by the seller. Finally, the tool will ensure that the new prices are within the price range set by the seller.

When we have a lot of sellers selling the same product, the question arises on how to be competitive. A good repricing tool enables a business owner to sell more at the best possible price for maximizing price. A repricing tool has to be fast to change prices close to the real time.

A repricer can be rule based or algorithmic. It is cost-effective to have a rule-based repricer however, these repricers may erode on sellers’ profits. For example, if you set the rule for the product price to be a minimum 12% of other marketplace sellers. An algorithmic repricer will be a little expensive however, they are able to automate the entire repricing process by evaluating the entire matrix which helps in winning the BuyBox.

 

 

 

 

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Apply to Sell @Buy on Google

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Google’s fast-growing marketplace “Buy on Google” uses a unique strategy to attract an audience in millions from a wide array of Google platforms. Online sellers can avail of the marketplace benefits as there is no listing fee or commission on sale.

Millions of shoppers go to different Google platforms every day. ChannelSale Software Services helps you with the application for Buy on the Google marketplace. We will help retailers of all sizes to list their products directly on Google with zero Google commission fee. Over the past few months, Google has made significant changes for retailers to reach more shoppers and help buyers find products at the best prices through Buy on Google checkout experience. There is no commission on sales and no listing fees for Google Shopping in the US.

Google Marketplace

Advantages

Zero Commission: Retailers are able to lower their costs with a commission-free model with no listing fees.

Third-Party Providers: Retailers can continue to use their current providers for multi-channel listing, payment processing, inventory, and order management.

Easier Listing: ChannelSale will enable retailers a seamless listing experience by importing catalogs from the existing database without having to reformat the entire data.

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Walmart Listing Optimization Tips

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Walmart US’s projected online sales for 2022 are estimated to be $75 billion. This is almost double of eBay US’s online sales and much higher than combined sales of BestBuy, Target, and HomeDepot. Listing any product on is definitely not enough for any retailer to be successful at Walmart. The first step towards success on Walmart is having a high-quality product. The second step towards success is creating a high-quality listing. Having a high-quality listing will ensure that your listing shows up on the search result and convinces the buyer to make a purchase.

It is important to have high-quality product listings on all online shopping channels. However, there are a few key points that you need to consider while optimizing listings on Walmart. In the age of multi-channel listing, it will be overwhelming for any seller to understand each marketplace especially when the rules change for every product category.

Walmart Product Listing

  1. Walmart Listing Quality

Walmart offers a free listing quality dashboard for all sellers to help them in optimizing listings. Walmart will provide a listing quality score out of 100 based on factors like product content and discovery, offer, reviews and ratings, and after-sales quality and service.

Walmart listing quality dashboard considers all key factors which influence shoppers’ decision to make a purchase. Walmart uses advanced algorithms to offer quality scores for individual listings based on what matters most to the shoppers. The factors for listings vary as per product category.

  1. Marketplace Algorithm

Understanding search algorithms for each marketplace may not be easy. However, assuming all marketplaces use the same search algorithms is incorrect. For example, Amazon prioritizes search results based on the prime status and suggests listings as per buyers’ intent. However, Walmart search algorithms are more inclined towards keywords match suggests listings based on a different set of rules. The points explained below comprise of a significant part of the rule-set. The experts at ChannelSale Software Service understand how search algorithms for each marketplace work and how sellers can work with it.

  1. Using Walmart Specific Title

It is recommended to have around 50 to 75 characters in a title. Titles should be unique to Walmart. It is not recommended to have the same title as other marketplaces.

Suggested Formula: Brand + Clothing Size Group (if applicable) + Defining Quality + Item Name + Style (if applicable) + Pack Count

It makes a huge difference if you have a useful feature that shoppers may search for. For variations, you can mention these points in the key features or description section. Make sure that the product title is easily readable and should appeal to potential buyers. ChannelSale offers features for writing business rules to customize titles for each marketplace allowing tailor-made titles for each marketplace.

Do not include:

Seller Name

Special characters

Marketing phrases like “bestseller”

Other marketplace names

  1. Image Quality & Media

Images are the most important attribute that shoppers look at before making a decision. Always ensure your pictures are professional, in focus, and do not show any accessories which are not included with the product. The images should be high definition and zoom enabled. The main image should be a front view with a white background. Images are to be cropped not resized to trim excess background. Include additional images with multiple angles. It is good to include media components like interactive tours, 360-degree views, and product reviews.

  1. Competitive Pricing

We know that Walmart will unpublish listings if the prices are not competitive. Walmart’s vision statement is “to provide the most affordable prices to the customers”. Product prices are among the most important factors while listing on Walmart. The best practice for any seller is to review and revise your prices based on the prices offered by the buy box winners.

You can use Walmart repricing tools for automated pricing, better search results, and to win buy box. Use a shipping calculator for finding the best carrier who can deliver products quickly and at a better cost.

  1. Description & Keywords

Product description should always be more than 150 words. It should not just be simple, easy to understand, and presentable but should also incorporate keywords most relevant to what shoppers would look for. Description appeals to customers who are already interested in the product. The description should highlight key features and benefits. It should explain the products’ best qualities along with being helpful to the buyers.

  1. Product Attributes

Product attributes appear to buyers as specifications. They help buyers to filter search results. It is recommended to fill in as many desired attributes as possible with relevant values. They help the products to appear on search results. Key product attributes can be found on marketplace taxonomy sheets as per the product category.

  1. Key Features

Key features are your product highlights. They emphasize the product’s specific details. It will be the product’s short description which can be easily read and understood. It is recommended to have about five to ten key features in bullet points. Ensure that the bullet points are sequenced as per their importance and they include all keywords.

  1. Walmart Reviews & Service

Marketplace reviews and service will always remain intertwined. Reviews are the most important factor in online selling. They offer validation for the products and the sellers about the quality of the product and service being offered online. Good reviews can be earned by selling the best quality products and offering good customer service.

Walmart has two types of reviews. Product reviews are related to the products being delivered and retailer reviews focus on the after-sales service provided by the seller. Walmart employees are also able to leave a review. Reviews for the product and the retailer are highly influenced by the service being offered. The better the reviews, the higher would be the potential for the product to be sold.

  1. Walmart KPI’s

Customer experience will always be the most important factor for Walmart as this is what sets them apart from other marketplaces. Walmart seller central will promote sellers and their products who offer the best service and maintain the best KPIs. Consistently monitor seller center analytics and reports and work on improving KPIs. Primary KPIs are listed below:

Order defect rate

On-time shipping rate

On-time delivery rate

Trust and safety score

For sellers having difficulty maintaining their KPIs, it is recommended to outsource tasks for enhancing customer experience. Experts at ChannelSale can offer consultation on the necessary steps required for improving KPIs not just for Walmart but for other marketplaces as well.

Summary

High-quality listing is the root of every successful sale. The quality of your listing will not just increase your product’s visibility but also has the power to build the customer’s experience towards your brand. The above points can be categorized into content, offer, and performance from the perspective of Walmart.

Having expert assistance to carry out listing optimization activity goes a long way for any seller. ChannelSale offers dedicated support for listing optimization to ensure that your listings are not just in sync with all marketplaces but they are competitive as well. Sales growth activities will comprise a lot more than the above-mentioned 10 points at no additional cost.

Securing the top search result on Walmart is not easy. Top search results do not come overnight but Walmart may remove the listing or the seller overnight. Securing the top position for search results requires sellers to consistently optimize their listings, review prices for products and shipping, and offer best in class service to earn those positive reviews and increase sales.

 

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Easily Bulk Upload Product Attributes

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With multi-channel listing uploading, new attributes will be an ongoing task. Every marketplace you add will have its own requirements for the minimum required attributes as per product categories and every attribute will have a set of acceptable values. Any values sent apart from those will be declined. This problem will continue to amplify as the seller adds more product categories or new marketplaces.

ChannelSale connects to all major shopping carts like Shopify, Magento, BigCommerce, WooCommerce, Volusion, etc. The API integration will allow you to import attribute data available on the shopping cart database. Additional attributes data specific to certain marketplaces can be stored using a third-party application like meta field editor or custom fields. ChannelSale does connect with many third-party applications to import attribute data. However, most of these are paid applications. Since the attribute data is to be imported from a third-party application via a shopping cart the import process slows down as the data volume increases.

marketplace attribute

ChannelSale provides a feature where sellers are able to bypass third-party applications and upload additional attributes directly on ChannelSale using XLS/CSV/TXT file formats in a matter of minutes regardless of the file size. The file would just need to have the SKU number and additional attribute field names and values to be imported.

  1. Upload file via ChanneSale dashboard
  2. Click on “Select File and the select the file that needs to be imported
  3. Once this has been done, click on “Import Now”
  4. Proceed to map the SKU column and the required attributes from the file

This file can hold all the attributes required for any of your marketplaces. Users can follow 4 easy steps to upload attribute data in just a few minutes.

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