Optiwise.ai, a prominent provider of optimisation solutions for Walmart sellers, has recently secured $2.4 million in seed funding and introduced a cutting-edge AI-powered personal assistant named Olivia, designed specifically for sellers on the Walmart Marketplace. The innovative assistant leverages generative AI technology to enhance the efficiency and effectiveness of its users by identifying product listing and advertisement opportunities, as well as providing performance insights and content recommendations such as optimal keywords, titles, descriptions, and pricing strategies.
Olivia’s development stems from Optiwise.ai’s integrated approach to optimising both sponsored advertisements and organic campaigns alongside product listings. This strategy ensures that all facets of a seller’s online presence—including titles, keywords, descriptions, images, and pricing—are carefully refined to boost visibility and conversion rates. The AI assistant not only aids in increasing product visibility but also plays a crucial role in personalising recommendations which, in turn, can significantly contribute to revenue growth both online and in stores.
Deepak Goyal, the co-founder and CEO of Optiwise.ai, highlighted the potential market growth opportunities that Walmart’s platform offers, particularly as the holiday shopping season approaches. According to Goyal, Walmart’s surging growth and access to a devoted customer base provide a fertile ground for brands to substantially increase their market share and revenue.
One of the standout features of Olivia is its capacity to streamline the creation of a unified brand narrative across various marketplaces. It allows sellers to effortlessly repurpose their existing Amazon A+ content—including images, videos, and more—to Walmart’s platform with just a single click. This functionality is made possible through the use of AI, which ensures that listings not only meet Walmart’s standards but are also optimised for maximum impact. Additionally, the platform aids sellers in adhering to Walmart’s Marketplace guidelines, such as the rigorous validation protocols of Item Spec 5.0.
Simultaneously, Walmart has been making strides to enhance the services available to its Marketplace sellers. At the recent “Let’s Grow! 2024 Walmart Marketplace Seller Summit,” the company unveiled a range of new tools and services, including a dedicated resale storefront, diversified categories, and improved fulfilment and logistics solutions. The retailer’s Marketplace has experienced significant sales growth over recent quarters, contributing to robust double-digit expansion in U.S. eCommerce. The number of sellers joining Walmart.com has also increased by 20%.
Walmart continues to refine its Marketplace offering, integrating with solutions such as TrueCommerce ERP, thereby facilitating seamless data exchange between Walmart.com and the sellers' systems. This strategic focus on supporting third-party sellers underscores Walmart's commitment to fostering growth and expanding its eCommerce footprint.
Source: Noah Wire Services