With ‘Anytime, Anywhere’ at the brand’s core, Walmart’s digital marketing strategy is focused on Accessibility and Availability. With 10,622 stores across 24 countries, Walmart successfully caters to over 37 million customers daily through its marketplace and offline stores. Starting as a small discount retailer, Walmart has built a solid branding story supported by a wide and loyal customer base and impressive statistics. So, what sets Walmart apart in its marketing strategy? Let’s take a closer look at its marketing mix.
Walmart’s Product Strategy: Walmart offers a wide range of product categories, including Electronics, Movies, Music, Books, Pharmacy, Beauty, and Home Improvement. This variety of products allows Walmart to become a one-stop destination for its customers, giving it an edge over other retailers and serving a wide range of customers. Additionally, Walmart offers season-specific products to attract a wider audience.
Walmart’s Pricing Strategy: Walmart’s pricing strategy is focused on offering the best products at the lowest prices. By procuring products in bulk and having an efficient supply chain management system, Walmart is able to reduce operational costs and offer competitive pricing. The brand also invests in store-brand products to control manufacturing and reduce costs. Walmart uses a data-driven approach to accurately forecast demand, optimize inventory management, and reduce waste. The brand also prices its products differently at different hours, emphasizing its low-price policy.
Walmart’s Distribution and Place Strategy: Walmart utilizes the hub and spoke method for distribution, where goods ordered centrally are distributed to individual stores. The brand optimizes the distribution process and collaborates with vendors to ensure a smooth flow of products from suppliers to stores. With over 10,000 retail units across 20 countries, Walmart delivers products directly to stores, focusing on reducing transportation costs and implementing greener transportation methods.
Walmart’s Promotion Strategies: Walmart’s “Every Day Low Price” strategy sets it apart from other retailers. The brand attracts price-conscious customers and offers personalized promotions tailored to customers’ preferences. Walmart also promotes impulse buying through limited-time promotions. By opting for smaller margins per product in exchange for increased sales volumes, Walmart gains a competitive edge over its competitors. This promotional strategy is similar to Costco’s marketing strategy.
Now, let’s dive into Walmart’s digital marketing campaigns from 2020 to 2023.
Walmart’s “Different Kind of Membership” Campaign (2020): This campaign introduced the Walmart+ program, promoting unlimited free deliveries, special fuel prices, and other tools to make shopping easier for families. The campaign video featured diverse families and emphasized the importance of finding and spending quality time with loved ones. It subtly plugged in Walmart’s products and services, such as home delivery.
Walmart’s “Built for Better” Campaign (2021): This campaign focused on sustainability and transparency. Walmart used icons to indicate whether products met higher nutritional standards or had environmental benefits. This campaign aimed to build trust and attract environment-conscious customers by promoting sustainable and transparent practices.
Walmart’s “Live Better Now” Campaign (2022): This campaign highlighted Walmart’s greater purpose of helping people live better. The video emphasized human connection and positioned Walmart as a crucial node of connectivity within a wide network of human connections. The campaign showcased wholesome moments and emphasized Walmart’s tech prowess.
Walmart’s “Welcome to Your Walmart” Campaign (2023): This campaign focused on showcasing simple stories and moments that Walmart customers experience daily. It emphasized that Walmart is there for customers in-store and online, meeting their needs at every step of the day. The campaign engaged customers during the summers and highlighted the convenience of shopping at Walmart.com or through the Walmart app.
These digital marketing campaigns showcase Walmart’s commitment to its customers, their needs, and their overall well-being. Walmart’s marketing strategy successfully integrates accessibility, availability, product variety, competitive pricing, efficient distribution, and engaging promotions to create a comprehensive framework for its digital marketing efforts.