Walmart have introduced Restored Premium to expands on their Walmart Restored offering with, they say, the aim of helping customers discover a broader assortment of high-quality refurbished items at ‘Every Day Low Prices’.
For brands and authorised refurbishers, this offers a new way to distinguish premium restored products – effectively A Grade, from those that are still in working order but perhaps have blemishes or deteriorated battery life.
Items that fall under the Walmart Restored Premium category are like new, showing no signs of cosmetic damage, and they come with a one-year warranty and 30-day (or more) free returns. Not only that, but where applicable, batteries will be 90% or more of the new equivalent. Finally, items will be refurbished by the original manufacturer or a manufacturer-authorised third party.
Effectively, Walmart Restored Premium items must be like-new, but will be offered to consumers without new prices.
This might be confusing for customers, Walmart Restored products come with a 90-day return or replacement period and promise at least 80% battery life. Although the returns period is longer, it’s effectively a 90 day warranty instead of a 1-year warranty. However, when you land on the Walmart Restored page you can select Restored Premium or simply Restored at the get go and will then only be shown products in the condition you’ve chosen.
Keeping products in circulation for as long as possible is more sustainable, in line with our efforts to enable a more circular economy in collaboration with customers, suppliers and sellers. When we take action to reduce unnecessary waste and increase recycling, we’re working to protect the environment for future generations.
– Michael Mosser, Vice President and Category Lead, Marketplace, Walmart U.S.
Opportunity for Walmart Marketplace Sellers
Sellers on the Walmart marketplaces have the opportunity to do two important things:
- Broaden their overall assortment
- Bring top-quality refurbished items to customers
With the chance to reach Walmart’s loyal customer base made even easier, sellers can help build trust toward a cycle of sales and growth, eventually expanding their capabilities into other areas – from computers to lawnmowers, Walmart aren’t setting any limits on what the future of Restored Premium might hold. Walmart say that they will continue listening to what sellers want and need and work together to make Walmart’s resale experience second-to-none.
The real opportunity for marketplace sellers is to differentiate their very best Grade A refurbished stock that is virtually indistinguishable from new and command a higher price point.
