New ClickZ Walmart Insights Newsletter - 10.03.2024

PLUS: Walmart Marketplace’s New Innovations to Watch For

Author

Marina Mouka
October 03, 2024

Walmart Top Picks 🛒

Walmart is extending its holiday deals event to October 8-13, aligning with Amazon and Target. The retailer offers early savings on various products and lowers holiday meal prices from October 14. Expanded delivery options and advanced fulfillment centers enhance customer experience, reflecting changing consumer behaviors and early shopping trends.

The 2024 Walmart Marketplace Seller Summit unveiled significant advancements in Walmart's ecommerce strategy, reflecting a robust growth trajectory. Walmart reported a 30% increase in marketplace sales over the past four fiscal quarters and a 20% rise in the number of sellers.

The summit highlighted new initiatives such as Walmart LocalFinds, which integrates online and offline shopping, and cross-border fulfillment services, simplifying the import process and reducing costs for sellers. These innovations underscore Walmart's commitment to enhancing its marketplace ecosystem.

Holiday planning was a focal point, with Walmart waiving peak-season storage fees for early inventory submissions and introducing a Deals Dashboard tool to optimize sales events. Seth Brown from Datavision emphasized the importance of strategic inventory management, noting a 500% sales spike during the holiday season. This pragmatic approach aims to equip sellers with the tools and insights needed for successful holiday campaigns.

Walmart also announced the expansion of its marketplace categories, including the introduction of a Premium Beauty section and the launch of Resold at Walmart, a platform for pre-owned items. The collectibles category will now feature preorders, enhancing customer engagement and anticipation.

New features for sellers include expanded international reach and updated tools for seamless onboarding. Walmart's Global Seller Center now supports cross-border sales with multilingual capabilities, reflecting the company's strategic focus on global market integration.

Poll Break ⏳

Meta is enhancing its ad platform with AI-powered updates, allowing advertisers to customize objectives and measure incrementality. New API integrations with third-party analytics tools like Google Analytics and Northbeam aim to provide a more accurate picture of campaign performance. These changes are part of Meta's long-term optimization strategy.

In light of ad platforms increasingly partnering with third-party measurement solutions, which of the following providers have you heard of?

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More Insider Finds 🏷️

Walmart has introduced a new security system to combat theft at self-checkout counters. Partnering with Digimarc, the system uses invisible barcodes on product surfaces, enhancing scanning efficiency and reducing theft. This technology aims to improve the shopping experience and mitigate the $3 billion annual loss from theft.

Walmart's eleventh annual Open Call event awarded deals to U.S. entrepreneurs, supporting its $350 billion commitment to American-made products. The event included international opportunities and guidance from experts like Daymond John. This initiative aims to create jobs and meet customer demand for U.S.-sourced goods.

Sam's Club is making strategic moves to capture market share by merging its supply chain with Walmart's, raising wages, and offering membership promotions. The retailer's innovations, like AI-powered checkout, and focus on customer satisfaction have driven significant revenue and membership growth, particularly among Gen Z consumers.

Performance Platters 🍽️

Brands are leveraging holistic video strategies to engage consumers across multiple platforms, driving full-funnelbusiness outcomes. By utilizing first-party data and diverse video channels, companies like PepsiCo and Lexusachieve significant increases in brand awareness, consideration, and conversions. Amazon Ads exemplifies this approach, offering expansive opportunities for advertisers.

DMEXCO 2024 showcased AI's practical applications, retail media's growth, and the shift to cookieless solutions. Key trends included AI-driven transformation, the rise of retail media, and the importance of first-party data. The event emphasized collaboration, transparency, and the evolving landscape of digital marketing, highlighting innovation and future opportunities.

Brand websites remain crucial for the golden quarter, driving engagement and sales, according to Visualsoft's research. While social media is growing in importance, targeting the right consumers is essential. Newsletters and nostalgic Christmas ads also play significant roles, with nearly half of consumers driven by nostalgia.

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