EXCLUSIVE: Walmart marketplace sellers have new AI assistant
Third-party sellers on Walmart have access to an artificial intelligence tool designed to streamline the creation of product listings and ads.
In an exclusive announcement sent to Chain Store Age, Optiwise.ai said it is launching Olivia, a generative AI-equipped optimization solution specifically developed for Walmart Marketplace sellers. Olivia is designed to identify listing and ad opportunities, answer questions related to performance, and offer content suggestions including keywords, titles, descriptions and pricing while taking into account holidays and events including the winter holiday season.
Olivia learns from a brand's existing Amazon content, including content, images and videos, and seamlessly replicates it to meet Walmart Marketplace standards in a single click. It can optimize sponsored ads, organic campaigns, and product listings simultaneously to enable them to work together, and offers personalized recommendations intended to increase product visibility and conversions.
Sellers also have the ability to ask Olivia for insights into business performance and advice on how to boost traffic and conversions, including suggestions for keywords, descriptions, or attributes to use and guidance on how to increase visibility for products during holiday and retail event periods.
In addition, the solution helps ensure compliance with Walmart Marketplace guidelines.
"As we head into the holiday shopping season, Walmart is offering brands a massive opportunity to grow revenue and market share that’s often overlooked," said Deepak Goyal, Optiwise.ai co-founder and CEO. "Not only does it provide access to Walmart loyalists who rarely shop elsewhere, growth is absolutely surging."
Walmart Marketplace sees growth
While Olivia is not offered by Walmart, the discount giant has been offering Walmart Marketplace sellers new tools. At its annual "Let’s Grow! 2024 Walmart Marketplace Seller Summit," the retailer announced new offerings including a resale storefront, expanded categories, and several fulfillment and logistics services.
[READ MORE: Walmart offers third-party sellers funding via new partnership]
Walmart has also integrated its hosted third-party sales platform with the TrueCommerce ERP solution. This enables third-party sellers using TrueCommerce to automatically exchange order, fulfillment, custom and inventory data between Walmart.com and their own business, third-party logistics, shipping and/or warehouse management systems.
According to the retailer, Walmart Marketplace has achieved more than 30% sales growth in each of the past four quarters and is helping drive double-digit U.S. e-commerce growth for six consecutive quarters. The number of sellers listing items on Walmart.com grew 20% during fiscal 2023.
Headquartered in Bentonville, Ark., Walmart Inc. operates more than 10,500 stores and numerous e-commerce websites in 19 countries.
