This week, we spoke with 8th & Walton’s Chief Operating Officer Steven Bertram about this year’s back-to-school shopping experience. Below is a lightly edited transcript of our conversation.
Lainie: Our first question is about recent media mentions of consumer concerns over rising prices and potential supply chain issues that could affect back-to-school clothing and supplies. Some parents are actually spreading out their shopping this season. What opportunities are available for suppliers, particularly in advertising on Walmart.com?
Steven: So, with Walmart positioned as a value retailer aiming to meet consumers’ needs, particularly for better pricing during the back-to-school season, suppliers are in a great position. They can leverage Walmart’s efforts to raise awareness among consumers and increase their ad spend in key categories. This not only helps Walmart grow sales but also presents potential opportunities for suppliers to expand their share in those categories.
Lainie: Could you recommend some best practices for this kind of advertising right now? Would a longer schedule be appropriate if, as the news stories suggest, parents are spreading their back-to-school spending over multiple trips instead of making one big purchase?
Steven: Absolutely. So, first, one best practice is understanding when your products sell consistently based on previous seasons. Looking at past seasons helps since trends change year to year, especially regarding when spending occurs. Much of this is related to school openings, which vary in different areas across the country.
Really understanding when your product peaks from a sales standpoint is crucial. And doing two things: first, making sure you’re spending across the entire peak period, whether that’s one concentrated week or four weeks. But mainly, you want to concentrate your spend and not worry too much about metrics like return on ad spend, but instead focus on securing new sales, potentially from new customers who could become repeat buyers for your brand in the future.
We’ve seen many suppliers and have been able to capitalize on those situations during key seasons, growing our share in the category and attracting consumers for years to come.
