Client history
In addition to opening retail locations around the world, Walmart aims to grow its operations in major cities. Walmart has four divisions for its retail locations: Walmart Supercenters, Discount Stores, Neighborhood Markets, and Sam’s Club warehouses. These Walmart Stores receive more than 100 million visitors each year.
The Hiring
Everything began when Walmart contacted us via Google with the intention of performing market research in China. We were able to get in touch with them when our sales head contacted during his time zone. It took some time for us to get in touch with Walmart and get a thorough explanation of their specific requirements. After all, we like to start by recording every little thing. We must first comprehend our clients to build a strong relationship with them. We were able to go to work on the project right away with minimal delay. Of course, we had a lengthy explanation and conversation with the www.bizprospex.com team. Developing a strategy that will produce exceptional results was the goal of this. The job was done in record time by our amazing team. Walmart was pleased with the calibre of what we gave him.
Project Planning
We had to carry out research on the cosmetics items offered in Chinese market internet stores for this project. Our team put a lot of effort into finding and confirming the websites and products from those sources that met Walmart’s pre-existing standards and needs. Our efforts led to the discovery of Chinese websites that were ideal for Walmart’s requirements.
Challenges
Their primary market of interest is China. The first challenge is instantly presented by a large number of competitors in the Chinese market. Their second issue was choosing the optimal market entry approach, and their third difficulty was managing the pricing of their goods in a market as competitive as the Chinese one.
The client asked BizProspex to provide accurate and recent information about the cosmetics products that are being sold on Chinese websites like JD, Vipshop, Tmall, Amazon, Taobao, and Shopee.
Solution Phase
The three pages of the competitors’ websites the search page, the product page, and the review page are used for the research. Then BizProspex began investigating the websites of the clients’ rival companies, which is done by looking at the product result rank and result type, such as sponsored or organic. Then, if there were any, they looked for a discount badge and an advertisement badge on a certain product.
Later, the Data solution provider looked for the product tags that are used. Then BizProspex verified the list price, selling price, and price per unit. The origin of manufacture for the item is also verified. Additional rank, category, keyword, and SKU identifiers.
The overall rating and review, along with the retailer’s name, are evaluated to determine the demand for a certain product.
Our side of the experience
BizProspex, however, never gives up. Even though the job was challenging for us, we gave it more of our coordinated effort and calibre. Our main principle is to never give up and to always strive for greater outcomes. We will be able to continue to earn our clients’ trust thanks to this ability of ours. Since 2009, BizProspex has been working in the data sector, and we have a lot of experience using data mining to locate the most relevant and recent data. We help companies in growing because of our excellent research. Our commitment to constantly offering high-quality research, data solutions and services has brought us more than 500 clients to date. Even if it is a significant figure, we must point out that the majority of our clients continue working with us after completing a project. When they need well-researched, high-quality data or leads, they always come to us first! Our customers are confident that BizProspex will consistently stick to all deadlines and quality requirements.
Final Outcomes
All of Walmart’s necessary goals have been successfully met. They now know which product from a particular product category is more popular in the Chinese market. Walmart has also expressed great satisfaction with the studies we completed. The gathered information aided Walmart in enhancing their analytics. Walmart is now in a stronger position to decide how the prices for its products should be set. Walmart will benefit from this research data in the future as well. The likelihood of successfully entering the Chinese market has greatly increased as a result of our research.