CS Core Day 8 Flashcards
How to Improve Price Coverage
Focus on getting your highest impressions-ranked SKUs matched via the CIA matching tool
How to Improve Meet/Beat Score
Review manual actions taken by your teams to ensure everything is being priced algorithmically. Use the item-level dashboard, filtering down to the high-impact changes (ordered by SKU impressions)
Buy Box
Area where price is listed on the site
How Prices Work with Store Prices
Generally, prices are equal. For general merchandise and consumables above $50, Walmart.com will follow competition if price drops below store price
Price It score calculated?
Every item has % score for days we meet or beat Amazon price (Meet or Beat Amazon for 30 days, score is 100%)
CIA
Competitive Intelligence Analysis - looks for matches between our products and competition
Meet/Beat Report
Used to understand our price position compared to Amazon
Pricing Principle 1
Price Algorithmically - quickly respond to market changes
Pricing Principle 2
Follow omnichannel principles - consistent pricing across all channels
Pricing Principle 3
Maintain consistent prices over time - volatility damages customer trust
Pricing Principle 4
Preserve lines and ladders - 1 marker is $1, two markers should be no more than $1.99
Pricing Principle 5
Properly use value callouts (Rollbacks, clearance, strikethrough, etc.) consistently and with discipline
Smart Pricing Tiers
1) Competitive data (Tier 1 competitors - Amazon, Best Buy, Target), Walmart Marketplace Prices, Walmart Stores
2) No competitive data available (stay at same price, stay in margin bounds
3) Margin bounds - category and basket-specific bounds
Smart Pricing Tool
Helps you understand how an item is being priced. Analytics can then be implemented to see if pricing should change
