Shopper enthusiasm for Amazon appears to be waning, with Prime membership regressing and buying frequency slowing, according to a survey by First Insight.
And it is their old foe Walmart that appears to be pipping Amazon to the post, with a majority of shoppers now saying they prefer to shop at Walmart over Amazon. The percentage of people who favor Amazon has dropped to 45% from about 53% in 2018, First Insight also found.
As with any change in shopper preferences, consumer brands are preparing to make changes. That includes setting up shop on the Walmart marketplace.
One company that has recently set up on the Walmart marketplace is Equinox International Brands, which sells products in the home & kitchen category.
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Hamza Ramzan, the company’s Sales and Marketing Manager, says that Walmart sales represent about 5% of their Amazon sales, but this is projected to reach 8-10% by the end of 2020 as the company launches more products on the Walmart.com platform.
The company initially only uploaded a portion of their catalog to Walmart, those products which they knew would be profitable to sell on the marketplace. “But we’re now in the process of launching Walmart-exclusive products by measuring demand,” says Ramzan.
Pregmate is another company that has recently starting selling on Walmart. The company, which produces pregnancy and other diagnostic tests, had been selling on Amazon since 2014. Within 12 months of launching on Walmart, the company was generating about 10% of their Amazon sales on the Walmart marketplace.