I've witnessed firsthand the dynamic changes in the retail landscape. Today, I'm here to discuss a significant shift that will impact all of us in the Walmart supplier network: the transition to Walmart Luminate™. Let's dive into what this means for your business and how you can prepare for this change.
Understanding Walmart Luminate™
Walmart Luminate™ is the new norm for Walmart US suppliers. It's a reporting system that provides critical sales data, both in-store and online, along with insightful customer shopping analytics. Notably, Luminate™ is set to replace the Decision Support System (DSS) in Retail Link, while Retail Link remains for other functionalities.
Why the Shift?
The evolution from DSS to Walmart Luminate™ reflects Walmart's response to changing consumer behaviors and technological advancements. With online sales surging, Luminate™ offers capabilities beyond DSS's scope, integrating modern metrics like online pickup and delivery, which have seen a 30% rise at Walmart.
Key Features of Walmart Luminate™
Omnichannel Tracking: Track the complete journey of an item across all sales channels.
Category Insights: Gain detailed insights and trends for entire categories.
Customer Trend Analysis: Understand digital consumers through demographics, purchase history, and more.
API Key: Automate data transfer to third-party platforms.
Cost Implications
There are two versions of Walmart Luminate™:
Basic: Free for suppliers, offering significant features.
Charter: A premium version, charged based on a percentage of sales.
The Three Modules
Walmart Luminate™ is structured into three modules:
Channel Performance: Offers enhanced sales data, including online metrics.
Shopper Behavior: Analyzes changing customer shopping habits.
Customer Perception: Helps in conducting customer-centric research.
Preparing for the Transition
Before DSS becomes a part of history, as a supplier, you should:
Evaluate Your DSS Reports: Identify which reports are critical for your business.
Begin Using Walmart Luminate™ Basic: Start familiarizing yourself with the new system.
Understand the Changes: Note the differences in report structures and terminologies.
Schedule Key Reports: Like the Supplier Performance Scorecard YOY, within the designated time frames.
Conclusion
This transition to Walmart Luminate™ is more than a technological upgrade; it's a strategic move aligning with the evolving retail landscape. As suppliers, embracing this change is crucial for staying ahead. We're committed to supporting you through this transition at Woodridge Retail Group. Our experience with major retailers positions us uniquely to guide you in adapting to these changes seamlessly.
For more detailed information, I encourage you to visit walmartluminate.com.
About Woodridge Retail Group
At Woodridge, we're more than a sales and marketing agency. We're your partners in growth, dedicated to scaling your business across major retailers like Walmart, Target, CVS, and Amazon and regional powerhouses like H-E-B. Our commitment is the cornerstone of our ethos – we grow as you grow.
Stay Ahead, Stay Informed.