eCommerce Podcast

Bawar Ahmad has bought around 70 ecommerce businesses in six years, and the first thing he does after the money clears isn't marketing. It's ringing the vendors.
Summary
Bawar Ahmad co-founded Ecomma, a Dubai-based micro private equity firm that buys, scales and sells Shopify businesses. Around 70 acquisitions and 60 exits later, with a team of 40 and a target of 30 to 36 more acquisitions this year, he has turned what most people treat as a once-in-a-lifetime event into a repeatable system.
He walks Matt through the 12 to 15 "value drivers" his team runs on every store they acquire, why valuation comes down to just two things, and the mistake that quietly costs sellers a chunk of their exit. He also explains how Ecomma gets from first questionnaire to cash in the seller's bank in 14 to 20 days when the industry standard is three to four months.
Matt, who has bought and sold ecommerce businesses on very different terms, pushes him on the other side of the coin, which is growth by acquisition. If you're turning over a million and want to get to five, should you double from scratch or go and buy someone?
00:00 — Welcome, and two ecommerce dinosaurs meet
03:22 — Seventy acquisitions in six years
06:11 — The first deal, a declining shoe brand bought before Black Friday
10:04 — What happens in a seller's head once they decide to sell
12:28 — Choosing an advisor, and the clean-financials red flag
16:02 — Normalisation, SDE and the tax conundrum
17:51 — Fourteen days from questionnaire to cash in the bank
20:09 — Asset purchase or share transfer on sub-$2m deals
24:06 — Profit, risk, and the value drivers that run on day one
29:11 — Voice marketing as the third retention channel
32:48 — Where to start if you want to buy a business
35:25 — Due diligence is for understanding, not just verifying
38:32 — When the brand is built entirely around the founder
41:09 — Buy for the audience, not the niche
46:52 — Structuring a deal when you buy a competitor
50:31 — What Ecomma buys, and the free exit-prep checklist
53:22 — Saving the best till last, get your data room ready

(Chapter markers aligned to the episode video.)
The Day-One Phone Calls That Move the Numbers (24:06)
Valuation comes down to two things in Bawar's model, profit and risk. Ecomma either grows one or removes the other, and about 20% of the time they add value without touching profit at all — building a team, adding backup suppliers, getting better contracts in place, removing the dependencies a buyer would discount for.
The rest is a standardised playbook of 12 to 15 value drivers, and the first one he gives away is negotiating costs down. On day one, the team rings every vendor on the account. The Klaviyo bill, the PayPal transaction fee, the supplier, the 3PL. Then they ask for better pricing.
"You'll be surprised how much of the vendors were like, we're waiting for this call for some time." — Bawar AhmadHe reckons that alone moves profit by roughly 20% almost overnight. On the payments line specifically, his framing is blunt.
"So on PayPal, we've added 20% of valuation on the first day." — Bawar AhmadThe next two drivers are marketing ones.
Creative volume. If a brand is shipping 8 new videos a month on Facebook, Ecomma pushes it to 20 or 30 and expects ROAS to follow.
Untapped retention channels. SMS flows and campaigns get switched on, then voice.

Stack enough of those small percentages and, in his words, before you know it you've doubled the business in 90 days. His stated average across the portfolio is a 150% uplift in 90 days.
Don't Assume the Sale (10:04)
Bawar says he sees the same sequence in about 90% of sellers. Life changes, they Google whether they can sell, they land on a valuation form promising a big number, they list, and the interest floods in. Then, 30 or 50 conversations later, the buyers go cold and the seller starts drifting away from the business.
That's where the damage happens. New creative doesn't get made. The influencer deal gets shelved. Inventory doesn't get reordered. Performance dips, and buyers can read a declining chart as well as anyone.
"You don't want to run the business as you're gonna sell it." — Bawar AhmadThe example he gives is illustrative rather than measured, but the shape of it holds. A business doing $100,000 profit a year at a 3x multiple is a $300,000 exit. Let performance slide during the sale process and that same business might fetch $150,000. Two or three more months of running it properly is, on his maths, worth the difference.
Clean Financials Beat a Good Pitch (12:28)
Bawar's third seller mistake is the one he came back to at the end of the episode when Matt asked for the best advice he hadn't yet given. Plenty of brands doing millions a year are still run on Google Sheets, with the car lease and the Uber Eats going through the same entity as the stock.
"It's just a red flag." — Bawar AhmadBuyers at this level often aren't ecommerce natives, so messy books make a business hard to underwrite and easy to walk away from. His fix starts at least a full financial year before you go to market.
Separate every personal cost out of the business
Get a proper P&L, balance sheet and cash flow reporting in place
Keep the bookkeeping current and the invoices tidy
Have the SOPs, systems and team documented alongside the numbers

Matt raised the obvious British objection, which is that a limited company owner legitimately puts as much through the business as possible to reduce their tax bill, and in doing so reduces the profit their valuation is built on. Bawar's answer is normalisation. Costs that are genuinely personal get added back as seller discretionary earnings, or SDE, and the valuation reflects the real economics — but that only works if the books are clean enough to prove it.
"You have to start thinking as an asset. This is a business, this is a system, it's not a lifestyle business." — Bawar AhmadThe preparation argument runs into deal speed too. Both of them have a phrase for it.
"Time kills deals." — Bawar Ahmad"Deals are like concrete — the longer you leave them, the harder they get." — Matt EdmundsonThat's what the data room is for. If a buyer asks a question and the answer takes three or four days to dig out, the deal cools. If the answer takes five minutes, it doesn't.
Fourteen Days, Not Four Months (17:51)
From the moment a seller returns Ecomma's questionnaire to cash hitting their bank is 14 to 20 days on average. An offer goes out within 24 hours of getting access, due diligence takes seven days, contracts add a couple more, then handover.
Bawar is clear that this isn't standard. A normal go-to-market process runs three to four months, and Matt's own exits have taken six. The gap exists because most buyers don't understand ecommerce well enough to move quickly, so they compensate with time and paperwork. Knowing the model means knowing which checks actually matter.
One structural note for anyone selling. Around 99% of deals below $2m are asset purchases rather than share transfers, so the buyer takes the assets and leaves the entity, its contracts and its history behind. Matt's caveat is that the tax treatment differs between the two, so talk to your accountant before you decide.
The Third Retention Channel (29:11)
Almost every Shopify store has an abandoned-cart email flow. A smaller number have SMS. Bawar's argument is that voice AI is arriving as the third one, and that 95% of brands haven't turned it on.
The mechanic is straightforward. Someone adds to cart and leaves, and roughly ten minutes later an AI agent phones them. It might be one in the afternoon, it might be one in the morning.
"These agents, the softwares never sleep." — Bawar AhmadThe agent asks what they were looking for, hears the answer, and offers the discount code. Ecomma sees it add around 5% to revenue. The side benefit is the recordings, because you get to hear a mother buying a toy for a ten-year-old explain in her own words why she was on the site, which is intelligence that paid ads and email don't give you.
He expects it to be as ordinary as email within three years. Matt's gentler on-ramp for anyone nervous about letting AI talk to their customers is the voice memo, sent over SMS or WhatsApp, recorded by an actual human on the team.
Buying a Business to Grow Your Own (41:09)
For an operator doing a million a year who wants to get to five, acquisition is the other route. Bawar's filter for what to buy is not the product category.
"I would just go with audience first." — Bawar AhmadA skincare brand serving 35-year-old women with acne shouldn't buy a phone case company for the extra revenue, and shouldn't buy a mascara brand either, because that's a different customer wearing the same label. It should buy the supplement brand those same women are already asking about, and build around the audience rather than the niche.
Matt's live example is a vegan supplement business whose customers keep asking for two things, electrolytes and protein. The electrolytes are developed. Protein quotes from manufacturers came back in the hundreds of thousands of pounds to get started, which makes buying or merging with an existing vegan protein brand the live question.
Three things Bawar would tell a first-time...

Amazon is shrinking product titles to 75 characters from 200, enforced 27 July 2026, and Carolyn Lowe explains exactly what to fix first.
Summary
Carolyn Lowe spent years at Dell — including running the consumer side of Dell.com — before leaving corporate life to build ROI Swift, an Austin agency that helps consumer brands grow profitably on Amazon. In this episode she and Matt dig into the single mistake she sees most often, which is founders throwing more money at ads when the real problem sits somewhere else entirely — a weak product page, a poor main image, or a listing the algorithm can't read.
She shares the numbers behind her thinking, from the 18–20% of ad spend most brands are quietly wasting to the 25% packaging saving she found for one client, and the clean rule she keeps coming back to, which is that the main image drives traffic while the content drives conversion. There's also a hard deadline every Amazon seller needs to act on, plus why she prefers affiliates over influencers and why Amazon Business is worth a look.
00:00 — Welcome and two ecommerce "dinosaurs" meet
06:13 — Why more ad spend usually burns money
13:12 — Agencies that think like owners
23:48 — Grading a listing A to F and the 75-character title cut
26:20 — Main image drives traffic, content drives conversion
32:00 — Why Amazon is shrinking product titles
34:55 — Launching her own brand with Vine and TikTok affiliates
40:05 — Where AI actually helps on Amazon
45:20 — Saving the best till last, SKU analysis to Amazon Business

(Chapter markers aligned to the episode video.)
Why Throwing More Money at Ads Usually Backfires (06:13)
Carolyn's view is that most brands reach for the ad budget when sales dip, when the fundamentals are what actually need fixing. If a website isn't converting at 2–3% with an average order value under $100, or an Amazon listing isn't converting at 15–20% or higher, more spend simply pours good money after a bad page.
"If your website isn't converting at 2 to 3% and your AOV is less than $100, go back and fix your product pages." — Carolyn LoweShe points to the 18–20% of ad spend she routinely sees wasted. On a £30,000-a-month budget, that's roughly $6,000 a month set on fire. One example she gives is a women's fertility product whose automated software kept spending on "dog, cat, horse, pet" keywords, which is why ROI Swift uses AI to analyse the data but keeps a human in the loop to make the call.
The Amazon Title Change Every Seller Needs to Action Before 27 July (23:48)
The most time-sensitive point in the episode is Amazon's move to shorten product titles. Titles are dropping to 75 characters (including spaces), down from 200, with enforcement from 27 July 2026. The change applies to all categories except media, and it's largely driven by mobile, which now accounts for the majority of Amazon traffic.
What sellers need to know:
Over-length titles get auto-rewritten by Amazon's AI if they aren't fixed
Only brand-registered sellers get a 14-day review window to adjust
Amazon has added a new Item Highlights field (around 125 searchable characters), so total indexable space stays close to 200

Carolyn's advice is to go back in now, rewrite titles to be compliant and intentional, and get the most important product details in first — before Amazon does it for you.
Why Your Main Image Drives Traffic and Your Content Drives Conversion (26:20)
This is the cleanest framing in the episode. The main image is what earns the click in a crowded search result, so it's a traffic lever. The content further down the page is what turns that click into a sale, so it's a conversion lever.
"Your main image is going to get you more traffic. Your content is going to get you more conversion." — Carolyn LoweCarolyn shares a worked example. Changing a main image from a pair of shorts on their own to the same shorts worn on a person — so buyers could see whether they were 5, 7 or 9-inch — lifted conversion by around 30%. A follow-up change to the content added roughly 12% more, with no extra ad spend. Her category-by-category tips include putting the product next to its box to signal a legitimate brand over cheap knock-offs, and showing the fruit a flavour is based on so shoppers can imagine the taste.
What It Means to Hire an Agency That Thinks Like an Owner (13:12)
Carolyn's differentiator is that ROI Swift thinks like owners rather than vendors, looking at the whole business instead of just the ad account. That's how they spotted a packaging change that saved one brand 25%, switching floss picks from a bag to a box and taking $1 off every unit across 200,000 units a month.
It shows up in how they charge, too — a retainer to keep five specialists working on each account, plus a share of the brand's growth, so incentives are aligned. Their four core values run through the whole approach.
Care about what you do
Make it better
Always be learning
Glass-half-full mindset

"We sort of are in the business of making other people millionaires and billionaires." — Carolyn LoweBefore they wrap up, Carolyn's parting tips are to start with a SKU-level benchmark of where a brand is today, and not to sleep on two growth channels — TikTok Shop and affiliates (she backs paying on sale over paying influencers for visibility), and Amazon Business, where 96 of the top 100 Fortune brands hold accounts and over $30 billion is transacted.
Today's Guest
Carolyn Lowe is the CEO and Co-Founder of ROI Swift, an Austin-based agency that helps consumer brands scale profitably on Amazon. ROI Swift has worked with 150+ brands and generated more than $100M on Amazon. Before founding the agency, Carolyn spent years at Dell, running a large division and the consumer side of Dell.com. She is also the author of Business Growth Do's and Absolute Don'ts and a licensed pilot.
Website — roiswift.com
LinkedIn — Carolyn Lowe
Book — Business Growth Do's and Absolute Don'ts

Carolyn has also offered a free one-page listing audit for any listener doing $5,000 or more on a single Amazon product page.
About the eCommerce Podcast
The eCommerce Podcast helps you deliver ecommerce WOW with real talk about building online stores. Matt Edmundson talks to experts and founders who've built the stores and learned the hard way, so you don't have to.
Subscribe at ecommerce-podcast.com for a new episode every Thursday.
Episode link: https://www.ecommerce-podcast.com/is-amazon-cutting-your-product-titles-to-just-75-characters-with-carolyn-lowe

Direct mail to your warm customers pulls four to five times the response of email, and most ecommerce brands aren't using it at all. This week Matt sits down with Daniel Dunn, CEO and co-founder of Paper Planes, to make the case that the letterbox is the reactivation channel hiding in plain sight.
Summary
Daniel Dunn spent years working on Tesco Clubcard data strategy before co-founding Paper Planes, a direct mail platform built for DTC ecommerce. (For anyone outside the UK, Tesco is the country's biggest supermarket and Clubcard is its loyalty scheme, one of the richest customer datasets in British retail.) His argument is simple. Most brands lean entirely on email and SMS to work their first-party data, yet a big chunk of that database never opens, clicks, or responds. Those people are prime for something tangible in the post.
Matt, who cut his teeth in direct marketing in the late '90s, digs into how the channel has changed. Dan explains why mail to warm customers outperforms email, how a single abandoned-cart postcard nudges buyers back, why hyper-personalisation lifts basket spend, and the second-purchase problem that has become the biggest challenge in DTC since COVID. There's also the Clubcard truth that one loyal customer is worth thirteen who just trial your brand once.
If you're planning your channel mix around email alone, this conversation will change how you think about where mail fits.
Why Mail to Warm Customers Beats Email
Dan's core point is about saturation. In the hour it takes to record the show, your inbox collects twenty or thirty emails. The postman, meanwhile, delivers three letters and won't be back for a couple of days. That scarcity is exactly why mail cuts through.
"In the hour it takes us to do this podcast, we'll have received 20 or 30 emails, whereas the postman came and delivered three letters, and I won't see that man again for another couple of days." — Daniel DunnThe results follow. When you send physical mail to warm customers, such as postcard follow-ups for abandoned baskets or A4 mailers to win back lapsed buyers, Dan says the response is at least four to five times higher than email. Email should still sit at the front of your strategy because it's a high-ROAS channel, but complementing it with something physical is where the value compounds.
Email first, because it's cheap and personalisable and works for certain segments
Mail for the people who've gone quiet and stopped engaging with email
A multichannel follow-up creates more value from the same customer than any single channel

The Abandoned-Cart Postcard That Lands on Day Seven
Dan walks through the mechanic. A customer fills a basket, then life gets in the way. The usual email flow fires at two hours, twenty-four hours, and seventy-two hours. If they still haven't come back, that's the moment to trigger a postcard, roughly on day three, so it lands around day seven.
The clever part is the tracking. Because Paper Planes tracks off the Shopify or Magento checkout, there's no need for a QR code, a discount code, or a microsite. You know who you triggered and roughly when they'll return, so the moment they hit the checkout you can see it. And if they come back via email first, they're stripped out of the postcard targeting, so you never waste the send.
"The beauty of tracking today off Shopify and Magento is you don't have to rely on a QR code, a discount code, or a microsite." — Daniel DunnThis answers the two big objections to mail in one go. Cost, because you're mailing the handful of people who didn't complete checkout rather than your whole list. And relevance, because digital printing lets you hyper-personalise the card around the exact products the customer looked at. On average, Dan says getting the right product combinations in front of people lifts basket spend by 25 to 30 percent. His favourite example is a pet-supplier surprise-and-delight card featuring the customer's actual pet, "Stanley, it's your birthday," using an image already on file.
The Real Prize Is the Second Purchase
Abandoned-cart recovery is where most brands start, but Dan thinks the bigger opportunity is elsewhere. Since COVID, the hardest problem in DTC has been moving one-time buyers out of what he calls the "nursery programme" and onto a second purchase as quickly as possible.
"You'd be amazed how valuable direct mail is at bringing people back for that all-important second purchase." — Daniel DunnMail recovers these second-purchase customers at rates you can't match through Meta, TikTok, or email. From there, Dan loves a loyalty play, trading people up into tiers and telling VIP cohorts about a launch first to build buzz. And it doesn't have to cost margin. Reminders and status messages, such as "here's how many points you have" or "thank you for being a valuable customer," can work as well as ten percent off. The rule throughout is test and learn.
That connects to the Clubcard truth Dan keeps coming back to. One loyal, committed customer is worth thirteen who trial your brand once and move on. So don't turn your back on your first-party data, and if you follow up on it, use personalisation, because that's where the extra sales come from.
You Don't Need Scale to Start
The old barriers, a list of 100,000 people and a couple of million in turnover, are gone. Dan's advice now is to plan mail into your channel mix from day one, the same way you'd plan SMS, so you understand how it works alongside email before you need it at scale. Paper Planes is releasing a Shopify app this summer that lets brands set up campaigns on templates with a small amount of free credit each month to dip a toe in the water.
Today's Guest
Daniel Dunn is the CEO and co-founder of Paper Planes, a direct mail and postal marketing platform built for DTC ecommerce brands. He's Vice Chairman of the DMA Print Council, previously worked on Tesco Clubcard data strategy, and runs a monthly newsletter on direct mail trends. He's based in East London, originally from Birmingham.
Website — paperplanes.co.uk
LinkedIn — Daniel Dunn (search "Daniel Dunn Paper Planes")
Email — daniel.dunn@paperplanes.co.uk

About the eCommerce Podcast
The eCommerce Podcast with Matt Edmundson is a weekly show for anyone building an online business, whether you're just starting out or running a multi-million-pound brand. Every week Matt sits down with founders and experts to dig into what actually works, from marketing and tech to story, growth, and the day-to-day of running a store.
Full show notes and back catalogue — ecommerce-podcast.com
Join the free eCommerce Cohort — a free, application-only community with monthly virtual sessions and regional groups. Apply at ecommerce-podcast.com
Subscribe to the newsletter — at ecommerce-podcast.com
Follow Matt on social — @mattedmundson

If you're part of the AI community, ask Sam to put you in touch with Dan and to help you think through direct mail ideas for your business.
Episode link: https://www.ecommerce-podcast.com/can-old-school-direct-mail-beat-email-marketing-in-ecommerce-with-daniel-dunn

There are thousands of software companies chasing the same small pool of brands on Shopify, and AI is quietly dismantling the bloated app stacks those brands built. Neal Goyal has spent eight or nine years inside ecommerce software, leading sales teams at names like Tapcart, and he now advises five or six earlier-stage software companies on how to grow. From that vantage point he's watching the "uninstall rate" surge as founders ask a new question of every app they pay for. Do I even need a tool for this at all?
In this conversation Neal walks through how the ecosystem commoditised in three waves, why agentic commerce is about to change the rules again, and why the answer for anxious founders is bracingly old-school. Stop chasing the shiny object, do the Business 101, and invest in the human relationships AI can't fake. Matt shares how his own software subscriptions have roughly halved while the amount his team builds with Claude Code has doubled, including a mobile conversion rate now 400 to 500% higher after a few hours of work.
In this episode
[13:38] How so many apps ended up chasing so few brands
[23:04] The great uninstall and why brands are tearing apps out
[26:26] Shiny object syndrome and the case for Business 101
[29:30] What the app stack can't replace
[45:02] Neal's single best tip for anyone in the ecosystem

How So Many Apps Ended Up Chasing So Few Brands
[13:38]
To understand why app stacks are collapsing, you have to understand how they got so big. Neal breaks the commoditisation of ecommerce software into three waves.
The first was COVID. Brands on Shopify went from two million to four million "in a hot second", and an equally fast race kicked off to build the software companies that served them. The count roughly doubled from 5,000 to 10,000 almost overnight.
The second wave was AI as an engineering tool, around early 2023. Suddenly four people in a basement could ship a compelling, high-quality product in 90 days and offer it cheaply. Every category, from loyalty to reviews to mobile apps, got disrupted by a player built almost overnight. The count climbed again, from 10,000 to 15,000 in roughly a year.
The third wave is the one we're in now, and Neal thinks we're only at the start of it. Part of it is agentic commerce, the idea that forcing a customer to visit a website, add to cart and fill in checkout details is already starting to feel archaic.
"We don't really know what it's gonna be today. All we know is it's gonna be different than it is today." — Neal GoyalThe other part is what's already on your desk. The ability for the average person, with no engineering background, to build their own software. The effect of all three waves is the same. There is an alternative for everything, loyalty is thin, and a brand can sign off a tool as fast as it signed on.
The Great Uninstall and Why Brands Are Tearing Apps Out
[23:04]
Most Shopify brands didn't start with a business background. They started at the kitchen table with a dream and a Shopify account, and they figured it out as they went. Neal describes it as building the plane while they flew it, "like putting duct tape on the wings as it's taking off." Every new challenge, from COVID to tariffs to iOS 14, was met by looking left and right and asking the person next to you what they were doing.
AI hasn't changed that instinct. It's supercharged it.
"We've all become superhuman in our own light." — Neal GoyalThe reflex that used to be "which tool solves this?" is now "do I even need a tool for this at all?" And the result is showing up in the numbers.
"The uninstall rate of software tools in the last 90 days is huge." — Neal GoyalBrands are quietly asking of each subscription, do I really need this, was my business really suffering without it, what value is it actually giving me. Neal is clear this isn't a bleak picture. It's a shift in mentality happening across the ecosystem, and he expects that mentality to look different again 90 days from now.
Shiny Object Syndrome and the Case for Business 101
[26:26]
The ecosystem suffers from a chronic condition Neal calls shiny object syndrome, and AI is its newest and brightest object.
"You bat your eyes and all of a sudden, next thing you know, you have this incredibly bloated tech stack." — Neal GoyalThe temptation right now is to believe that if you're not adopting every new AI tool the moment it lands, you're falling irreversibly behind. Neal doesn't buy it. There will be early adopters who benefit and pull ahead, but the learning curve is going to be gradual, because this is not a fad passing through.
"At the end of the day, we are still selling a physical good here. We're still selling a t-shirt. We're still selling a supplement." — Neal GoyalHis advice for the anxious founder is the opposite of urgency. You're almost certainly not behind. You only feel that way because of the few loud voices on LinkedIn and Instagram talking about it. The danger isn't that you're too slow to adopt AI. It's that you chase the shiny object instead of doing the unglamorous Business 101 that actually moves the needle.
What the App Stack Can't Replace
[29:30]
If software is commoditising and stacks are shrinking, what's left to compete on? Neal's answer is the part most people assume AI makes obsolete. The human stuff. As tools get more similar, the decision about which one to buy comes down to something basic.
"There's a lot of similar software like this being built, but I like those people more. They're really responsive, they're really kind." — Neal GoyalAs budgets tighten, a lot of software companies are cutting exactly the customer-facing people who build those relationships. Neal argues that's precisely the moment to do the reverse. He puts his own money where his mouth is. Of the ten largest deals he's closed in recent memory, he went and met all ten in person. Ten out of ten. Email, meanwhile, "is eroding, or completely eroded already, as a trust channel." When thousands of companies flood the same small pool of inboxes, the inbox stops being a place anyone trusts.
So the bet he's advising his clients to make is the counterintuitive one. Give before you take. Win attention rather than compete on features.
"We're not in the business of competing against other providers in the space for that brand's business. We're in the business of competing against every other software company for attention." — Neal GoyalHis single best tip, saved for the end, doubles as the whole philosophy. Forget the textbook and go strike up 20 interviews with operators who live and breathe this work. Walk in their shoes and you'll learn more than any course could teach you. He should know. He has an MBA in marketing and says the 20 conversations taught him more than the degree ever did.
Today's Guest
Today's guest: Neal Goyal
Company: SaaS Class
Website: http://saasclass.io
LinkedIn: Connect with Neal on LinkedIn
Episode link: https://www.ecommerce-podcast.com/how-ai-is-quietly-killing-your-ecommerce-app-stack-with-neal-goyal

Most Amazon sellers who try Walmart copy their listings straight across — same title, same bullet points, same ad campaigns — and wonder why it doesn't work. Andrew Deramo has spent seven years on Amazon and now puts 40% of his working time into Walmart. His argument is simple: Walmart is its own search engine, its own customer base, and its own opportunity. Sellers who treat it like a second Amazon are leaving money on the table.
In this episode, Andrew walks through the strategy he uses with his own products and his clients at SellTru — from building platform-specific listings to using Walmart's account managers to place products on virtual shelves, running flash deals and tentpole events to build organic rankings, and eventually cutting paid advertising altogether once those rankings hold.
Key Topics
06:11 — Why copy-pasting Amazon listings onto Walmart quietly undermines brands moving across
09:59 — Why Walmart is far less competitive than Amazon (and could win long-term)
18:16 — The Walmart account manager (something Amazon simply doesn't offer) and what virtual shelf placement actually means
26:24 — Flash deals, tentpole events, the commission rebate system, and why you can switch off PPC once you rank
33:12 — Importing Shopify reviews onto Walmart listings, and why conversion matters more than the algorithm question
35:54 — The wholesale opportunity — finding Amazon brands absent from Walmart and becoming their Walmart seller

Treat Walmart as Its Own Search Engine
Andrew's central point is that Walmart and Amazon are distinct search engines — different keyword volumes, different customer intent, different listing requirements. The titles are structured differently. The bullet points are structured differently. The keywords that perform well on one platform do not automatically perform well on the other.
The practical implication is that a brand moving onto Walmart needs to build a Walmart-specific listing from scratch, using Amazon data as a starting point to be checked and adjusted against Walmart search data. Andrew is direct about why this matters beyond just keyword matching.
"Set it up properly the first time. It's really difficult to change once you're already on there."The Walmart platform is less mature than Amazon's, and making changes to live listings — even something as routine as updating a main image — can take weeks to process. Getting the listing right before launch matters more on Walmart than it does on Amazon.
The Walmart Account Manager Advantage
A significant difference is the Walmart account manager — a Walmart employee assigned to a seller's account, with no equivalent on the Amazon side.
What an account manager can do is called virtual shelf placement. A seller shares the keywords their product ranks for on Amazon, and the account manager manually places that product on the relevant virtual shelves within Walmart's platform. This effectively bypasses the organic ranking process for those shelf positions, giving a new or growing product visibility it would otherwise take months to earn.
In 2026 the route to getting an account manager has changed. Previously sellers could request one; now Walmart reaches out based on GMV thresholds. Andrew notes that if a brand is doing well on Amazon, a Walmart account manager has probably already sent them an email trying to bring them across.
"Take that gift and run with it because they can be very beneficial."Account managers also facilitate flash deals — a minimum 10% discount in exchange for placement on a high-traffic promotional shelf — and give access to tentpole events around back-to-school, Black Friday, and Christmas. During those events, Walmart offers commission rebates to sellers running Walmart-exclusive discounts: if a seller discounts a product 15% on Walmart, Walmart may cut its commission rate from around 15% down to 6 or 7%.
Andrew is attending the Walmart convention in San Diego this year specifically to push for a clearer path to account manager access for sellers who qualify but haven't been contacted.
Running Ads on Walmart — and Stopping
Walmart's advertising platform is less developed than Amazon's. Andrew recommends no more than three to five keywords per campaign, running those tightly focused campaigns for a couple of months after launch to build organic rankings. The key difference from Amazon is what happens next.
On Amazon, organic ranking positions tend to decay quickly without ongoing ad spend to support them. On Walmart, Andrew finds those positions hold for one to two months after cutting PPC.
"Once I see that my organic ranking is page 1 in a good spot for specific key terms, I'll cut that off — because it'll maintain its spot for a while."The strategy that follows is to sustain sales velocity through flash deals and tentpole events rather than continuous advertising. CPC is lower on Walmart than on Amazon, but conversion rates are also lower — the platform has less established consumer trust. Andrew sees returns of 4x to 5x ROAS on well-reviewed products once they have some history on the platform.
Reviews and the Shopify Import
Reviews affect conversion on Walmart just as they do on Amazon. What Walmart allows that Amazon doesn't is a direct import of existing Shopify reviews onto a Walmart listing — sellers upload an Excel file, Walmart runs a review check, and the reviews appear on the product page.
Andrew is honest about the limits of his knowledge here: he's confident the imported reviews lift conversion, but less sure how much weight the Walmart algorithm gives them as a ranking signal. The conversion benefit is the clearer win.
"I'll get a review later and they'll be like, 'Oh, I read the reviews and this product was great.' But how much does it actually help the algorithm when you upload those? I'm not sure."The ability to port verified reviews from an existing Shopify store removes one of the biggest barriers for new products on any marketplace.
The Wholesale Opportunity
Andrew's closing advice is aimed at sellers who don't yet have their own product but want to build on Walmart.
His suggestion is wholesale. Find small brands doing well on Amazon that have no Walmart presence — either because they lack the team, haven't prioritised it, or simply haven't got around to it. Call them. Ask for a wholesale price. Then take their product through the same Walmart launch process described above.
"Go to Amazon, there's tons of small businesses out there that have great products, that do great sales on the Amazon platform, but just don't exist on Walmart. There's an opportunity right there."The logic holds because a product with a proven Amazon track record is exactly the kind of listing that Walmart keyword data and an account manager relationship can accelerate. It is a lower-risk entry point than launching an unknown brand, and there are a large number of Amazon-only brands who have simply never had the bandwidth to expand.
About the Guest
Andrew Deramo is the founder of SellTru, where he helps ecommerce brands grow on Amazon and Walmart Marketplace. He has spent seven years on both platforms, started as ecommerce director for a large beach-supply business, and now runs his own product accounts alongside his agency work.
Website: selltru.com
LinkedIn: Andrew Deramo

About the eCommerce Podcast
The eCommerce Podcast is hosted by Matt Edmundson. Each week Matt talks with ecommerce founders and experts about what's actually working — practical strategies, honest lessons, and the kind of insight that comes from running real businesses.
New episodes every week. Find show notes, transcripts, and links at ecommerce-podcast.com.
Sign up to the newsletter to get each episode delivered to your inbox, and if you want to go deeper, check out the Cohort Groups — monthly calls with ecommerce people from around the world.
Episode link: https://www.ecommerce-podcast.com/how-to-win-on-walmart-not-just-amazon-with-andrew-deramo