5 game-changing reports in Luminate Charter

Discover how Walmart’s Luminate Charter plan is revolutionizing retail data analytics with these five essential reports for suppliers.

One of the biggest events in retail in 2023 was the launch of Walmart Luminate, a data platform offering suppliers more visibility and data access than ever before. While Luminate offers two tiers of data subscriptions, the Luminate Charter plan stands out as a powerful tool for data-driven brands, boasting a continuously evolving feed of never-before-seen reports designed to transform supplier strategy.

Imagine having a panoramic view of your product’s journey across all sales channels, understanding intricate customer purchase patterns, and the precise flow of inventory to every store. This is the promise of Walmart Luminate’s Charter plan. 

Here, we outline five of Luminate Charter’s most promising reports and tips to help brands harness the new data for next-level success in 2024. 

1. Omnichannel sales reporting

One of the biggest additions to Luminate is the inclusion of omnichannel sales data. Located within the Channel Performance Module, the ‘Omni Sales Measures Data Feed’ in Luminate Charter offers comprehensive sales reporting across all channels at an item and date granularity – spanning in-store, online (Walmart.com), pickup, and delivery.

Historically, Walmart sales data has been limited to primarily in-store and online channels, but with this expanded view, suppliers can now gain a comprehensive understanding of the customer’s path to purchase.

E-commerce is one of the fastest growing areas of Walmart’s business – up 27% in 2023 thanks to customers embracing pickup and delivery services, Walmart has said.

This surge underscores the importance of having an omnichannel perspective. Suppliers equipped with detailed insights across all purchasing channels are better positioned to predict trends, adapt strategies, and meet customers exactly where they are. 

To harness the full potential of omnichannel data, consider implementing these strategies:

• Inventory optimization: Optimize inventory levels and placement based on product performance across channels to reduce out-of-stocks (OOS) and excess inventory. 
• Enhanced consumer insights: Use omnichannel data to deepen your understanding of consumer behaviors and preferences across Walmart shopping channels. Apply these insights to tailor product offerings, customize marketing messages, and enhance overall customer experience. 
• Dynamic pricing strategies: Use channel-specific data to adjust prices based on real-time insights into customer demand, competitor pricing, and inventory levels.

E-commerce is one of the fastest growing areas of Walmart’s business – up 27% in 2023 thanks to customers embracing pickup and delivery services, Walmart has said.

2. Comprehensive category reporting

With the launch of the Luminate Charter, category data has become more accessible for all suppliers, boasting robust feeds for category advisors and new data available to non-advisors.

The ‘UPC Weekly Sales Measures Data Feed’, available to all Luminate Charter subscribers, provides a detailed weekly analysis of store and e-commerce sales at the UPC and store level across a given product category. This feed is designed for suppliers, particularly those who are not category advisors, to benchmark and analyze their book of business.

By offering granular data on product performance, the UPC sales measures empower suppliers to understand their position in Walmart and drive competitive strategies.

Suppliers gain the ability to monitor their products’ weekly sales trends, compare performance against the broader category, and identify opportunities for growth and improvement. This level of detail is pivotal for making timely, data-driven decisions that can significantly impact a product’s market presence and profitability.

And you may have realized that if you can see what other suppliers are in your category, they can see you too. To stay ahead of the curve, suppliers must continually assess and optimize their product strategies, ensuring they not only keep pace but strive to lead in their respective categories.

By utilizing category data in Walmart line reviews for joint business planning (JBP), non-advisors can effectively act as category advisors, bringing a data-driven approach to discussions and decisions.

3. Ensuring online product viability

In today’s evolving retail landscape, a seamless shopper experience across all channels is not just desired but expected.

Walmart’s ‘Digital Transactability feed’, a critical feature of the Luminate Charter plan, is designed to help suppliers ensure that their products are not just present, but fully transactable across Walmart’s digital platforms.

This feed gives suppliers a comprehensive view of their products’ online presence and performance, highlighting crucial areas for improvement.

With 20 different indicators, including missing aisle information, content issues, missing dimensions, and more, the Digital Transactability feed is an invaluable tool for diagnosing and resolving any barriers that might prevent a product from being fully sellable online.

Understanding each aspect of digital transactability is key. The PEAT acronym – Published, Eligible, Available, Transactable – guides suppliers through the necessary steps to ensure their products are not just listed but fully optimized for online sales.

PEAT helps suppliers make sure every SKU is:

• Published: Properly listed and visible on the website.
• Eligible: Meeting all criteria to be sold online.
• Available: In stock and ready for purchase.
• Transactable: Able to be bought and processed through the website without issues.

By focusing on these metrics, suppliers can significantly enhance their products’ online success, leading to better visibility, higher sales, and a stronger omnichannel presence.

With 20 different indicators, including missing aisle information, content issues, missing dimensions, and more, the Digital Transactability feed is an invaluable tool for diagnosing and resolving any barriers that might prevent a product from being fully sellable online.

4. Optimizing inventory flow

The ‘Store Fulfillment and Replenishment feed’ focuses on the efficiency and accuracy of getting products from the warehouse to the shelves, and ultimately into the hands of the end-consumer.

This data feed provides detailed records of how orders are being fulfilled by day, item, and store, allowing suppliers to closely monitor and manage their inventory levels in real time.

One of the critical challenges this feed addresses is the issue of nil-picks. Nil-picks occur when an item appears available in Walmart’s system but cannot be found or fulfilled when an order is placed. This discrepancy can lead to significant problems, including customer dissatisfaction and lost sales, and is considered a major misstep by the retailer.

In addition to the fulfillment and replenishment data, the Luminate Charter plan also includes an ‘Out-Of-Stock (OOS) Root Cause Feed’.

This additional dataset offers deep insights into the reasons behind stockouts.

High-level out-of-stock reasons span various categories:

• Supplier issues: These might include delayed shipments, production issues, or quality problems, leading to stock unavailability.
• Forecasting errors: Misjudgments in demand forecasting can result in insufficient stock levels.
• Modular issues: Problems with shelf space planning or modular setup can cause items to be out of stock.
• Store ops: Challenges in store management, such as inefficient restocking processes.
• Supply chain disruptions: Issues within the supply chain network, including transportation delays or warehousing problems.
• Other: Various other reasons that don’t fit into the standard categories but still impact stock levels.

Understanding the root causes of stockouts enables suppliers to implement more effective inventory strategies, reduce the incidence of nil-picks and other stock issues, and maintain a consistent supply of products to meet customer demand.

5. Unveiling purchase pairings

With Charter, Walmart is also helping brands move beyond just their product information to gain a more comprehensive view of shopper insights. Luminate Charter’s ‘Item Affinity Feed’ offers a sophisticated understanding of how products interact within the customer’s shopping basket.

This feed provides a detailed analysis of what items are commonly bought in combination with your products, revealing patterns and preferences in consumer purchasing behavior.

Understanding item affinity is crucial for suppliers looking to enhance their marketing strategies, optimize product placement, and create more compelling promotions. By analyzing the combinations in which products are bought, suppliers can identify cross-selling opportunities and partner with complementary products for promotions or bundle deals. This insight is particularly valuable in understanding customer preferences and behaviors, allowing for more targeted and effective marketing efforts.

For data scientists and analysts, the Item Affinity feed is a treasure trove of information. The depth and breadth of data available provide ample opportunity for creative and strategic analysis. For instance, when an aspirin brand discovered that their products were frequently purchased alongside salmon, they were puzzled. But such insights reveal deeper consumer cohorts and behaviors when it comes to topics like heart health.

The omnichannel way

The advent of Luminate Charter marks a significant leap towards helping Walmart suppliers implement a truly omnichannel retail strategy.

The collective intelligence gathered from these new Walmart feeds doesn’t just illuminate individual aspects of the retail process; it synergizes them to help brands streamline overall performance, refine promotion strategies, and enhance customer engagement across all channels.

This integration and enhancement of advanced data analytics reflect Walmart’s vision for a future where retail is not just a series of transactions, but a seamless and interconnected experience for the consumer.

CPG suppliers that embrace this evolution can achieve new heights of success while improving their relationships with Walmart’s merchants. This is because adapting to and leveraging an omnichannel strategy with Luminate demonstrates a commitment to meeting consumer demand and aligning with Walmart’s goals and standards.

Consequently, suppliers who are early adopters and effective utilizers of the comprehensive data will find themselves at a distinct advantage, enjoying enhanced visibility, strategic collaboration, and a stronger competitive stance in the retail marketplace.

The integration and enhancement of advanced data analytics reflect Walmart’s vision for a future where retail is not just a series of transactions, but a seamless and interconnected experience for the consumer.

Leveraging next-generation data solutions for supplier success

In the era of big retail data, effectively aggregating and modeling the wealth of Luminate’s information is paramount – but it can also feel like a considerable challenge. This is where next-generation data solutions like Crisp come into play, turning vast and complex datasets into convenient, actionable insights.

Crisp’s advanced platform seamlessly ingests the extensive data provided by Walmart’s Luminate Charter plan, enabling suppliers to access the latest reporting in Crisp BI dashboards or within their existing tools. With fresh data at their fingertips, suppliers can more easily act upon the information to make informed decisions quickly and effectively.

Ensuring maximum ROI on Luminate’s Charter plan involves leveraging every data point towards actionable strategies. With the right tools in place, every insight gained from Luminate’s advanced reports can directly contribute to improved sales, reduced waste, and a stronger market position.

To learn more about how Crisp can help you maximize the value of your Luminate data visit us here.