Walmart Benchmarks 
& Insights Report

From the MikMak Shopping Index

Consumer preference for Walmart eCommerce has shifted

TikTok surpasses YouTube as a top social commerce platform for Walmart shoppers

 

Purchase Intent is higher for Grocery than any other category

 

Saturday evenings are the best times to reach Walmart shoppers

 

Here are the latest Walmart eCommerce findings for your 2024 marketing initiatives.

 

 

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MikMak's 2024 Walmart Benchmarks & Insights Report

 

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MikMak Walmart Guide 2024 Vertical Cover

Walmart eCommerce brands are investing more in Facebook and TikTok

Meta channels, Facebook (62.5 percent) and Instagram (22.5 percent), continue to lead in driving Purchase Intent Clicks*, or in-market traffic, to Walmart, compared to other social channels. As many brands place the majority of their ad spend into these Meta channels, it is expected for them to see the most traffic. However, Facebook did see an increase of 1.1 percent in traffic, compared to the previous year. Meanwhile, Instagram saw a 4.1 decrease when compared to the previous year.

Emerging in third is TikTok, comprising of 7.1 percent of Walmart shoppers coming from social media. This channel has seen the most growth, with a 3.3 percent increase since last year. 

YouTube follows with 4.6 percent, with a slight decline (0.3 percent) compared to last year. Snap and Pinterest are also driving some traffic to Walmart at 2.2 and 1.1 percent, respectively, and have both seen small increases in traffic (0.5 and 0.4 percent, respectively).

 

Purchase Intent Clicks*:
The number of times a shopper has clicked through to at least one retailer during a single session.

 

Social Platform Share of Purchase 
Intent Clicks to Walmart

 

MM WalmartGuide24_SocialPlatform

 

BRAVE COMMERCE logo

The power of social for brand building with eos Products CMO Soyoung Kang

 

"Social media, I believe, is like your virtual storefront. You would not ask somebody whether a storefront or a consumer coming into their store is driving the business, and I don't ask the same question of social media. If somebody is there to be a part of my community, I think it's a value-add to maintain that one-to-one dialogue."

 

What brand categories matter most?

Walmart offers a wide array of product categories both in-store and online, but which ones are seeing the most traffic from eCommerce shoppers? 

Right now, the category seeing the most Purchase Intent Clicks to Walmart is Grocery. Personal Care follows, and Alcohol comes in third. Home Care and Health & Wellness products round out the current top five categories for this retailer. 

 

Top Categories for Walmart Shoppers


 

MM WalmartGuide24_TopCategories

 

SabraCS_Instacart Pillar Page

 

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Chris Rogers of Instacart on Developing Strong Retailer Relationships, and Utilizing AI for Commerce

 

"All of our sales on our platform that we are driving, everything flows through our retail partners. They directly benefit; our incentives are completely aligned. If we run a thriving ads business that gets more items in the basket, our retailers win, our brands win, and we win."

 


Grocery spotlight

 

Given that Grocery is the top product category Walmart shoppers are active in, here are a few tips and data points for brands in the category.

What makes effective eCommerce ads?

  • Bold, eye-catching creative that visually stands out
  • Product first, showcasing both the product and its value right away
  • Flexible check out that allows shoppers to switch between in-store and online, different geolocations, and fulfillment options
  • Don’t be afraid to try out different formats. Successful grocery brands in 2024 have effectively used QR codes, OTT advertising, and livestream commerce to reach consumers.

Hot tip: Be quick and nimble with your creative. The world needs to be able to experience your brand and buy it. 

Walmart shoppers are buying Candy, Toys, and Personal Care products

Top 10 Products for Walmart Shoppers

(by Purchase Intent Rate*)

MM WalmartGuide24_Top10Products

Average Basket Size
7.1 items

 

 

 

Where are Walmart eCommerce shoppers, and when are they shopping?

The majority of shoppers in the MikMak Shopping Index who select Walmart as their online retailer of choice reside in California. Following California are New York, Texas, Florida, and Illinois, in that order.

When do they shop the most? According to the MikMak Shopping Index, Sunday evenings see the most shopping activity from Walmart shoppers. In general, after-work hours seem to be best.

 

 

MM WalmartGuide24_TopStates

Most Popular Shopping Days of the Week, Walmart

 

MM WalmartGuide24_TopDays

Most Popular Shopping Time of Day, Walmart (ET)

 

MM WalmartGuide24_TopTime

 

Your eCommerce Marketing Checklist

So you’ve got the insights, now what? Here’s a list to help optimize your Walmart marketing initiatives for 2024.

  • Get the basics down. Are Facebook, Instagram, and TikTok part of your marketing mix? Are you marketing to Walmart shoppers in the right regions, at the right time, and day of the week?
  • Collect first-party data. Your website and organic media audience are worth gold. Drive this qualified shopper base to purchases at their preferred retailers, don’t let them go search elsewhere. Gather insights, with an “always on” shoppable strategy, about their shopping preferences all the way through to check-out at retailers, and build look-alike audiences to target via your media campaigns. Your data from all year round will help you optimize your high-season media campaigning to target and use your budgets more wisely. This will allow you to make your investments more profitable.
  • Pay attention to pricing and consumer behaviors in tandem. Run tests to determine which audience segments are most price-conscious and find ways to appeal to them. In many categories, consumers will wait until the price is right, or switch to private-label or competitor products if your product is not competitively priced. 
  • Don’t stop spending. Consumers might be hesitant to spend on high prices, but they will still buy your products. The economic backdrop emphasizes the need for brands to look for efficiencies in their marketing and media spend. The brands that can keep investing despite this backdrop will gain share and withstand the test of time.
  • Get creative in your media design, in your media mix, and in your partnerships. Test and learn discount messaging.

 

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Denise Woodward of Partake Foods explains how to scale a small business

 

“It’s tools like MikMak that give us the visibility on where our consumers are in the funnel from a consideration to purchase perspective and it allows us to support our retail partners.”

We're here to help.

Did you know your brand can gain exclusive first-party consumer insights and multichannel analytics by partnering with MikMak? Use MikMak Insights to access data that helps your brand develop and apply eCommerce strategies that work, with a complete understanding of consumers' behavior and preferences.

We're here to help. MikMak helps multichannel brands gain deeper consumer insights to grow and protect market share. Contact us at marketing@mikmak.com!

 

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Access the Complete Report

MikMak's 2024 Walmart Benchmarks & Insights Report

 

Be sure to bookmark this PDF so you can access the link whenever you need it:

 

MikMak Walmart Guide 2024 Vertical Cover