- Walmart to launch its membership program in the U.S. on September 15th.
- The membership will offer fuel discounts, unlimited free deliveries, and no checkout lines.
- Walmart Plus membership will cost £73 annually versus £88 for Amazon’s Prime.
Walmart Inc (NYSE: WMT) said on Tuesday that it will launch Walmart Plus (Membership Program) on September 15th. As per Walmart, subscribers of the membership program will be able to relish fuel discounts, unlimited free deliveries, and no checkout lines. The retailer published its second-quarter earnings report in mid-August that highlighted a massive 97% increase in digital sales.
Shares of the company jumped 1.5% in premarket trading on Tuesday and gained another 1% on market open. At £105.50 per share, Walmart has recovered more than 35% since March when it touched a year to date low of £77.25 per share. Here’s what you need to know about value investing strategy.
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Walmart Plus membership will cost £73 annually
The new membership program will be available to its customers in the United States. It will cost £73 annually versus £88 for Amazon’s Prime subscription; a staunch competitor for Walmart Plus. According to Chief Customer Officer Janey Whiteside of Walmart:
“We are a company committed to meeting our customers’ needs. We’ve designed this program as the ultimate life hack for them.”
Whiteside also commented that the membership program doesn’t only aim at inviting new customers to Walmart but also cater to existing ones to make them more loyal to the retail corporation.
Benefits for subscribers of Walmart Plus include same-day delivery on a wide range of items (over 160 thousand) from groceries to toys. For free home deliveries, customers will have to place an order of a minimum of £26.
Walmart already had “Delivery Unlimited” service in place that charged a monthly or an annual fee for an unlimited number of deliveries. Subscribers of “Delivery Unlimited” will automatically be upgraded to Walmart Plus.
Walmart teams up with Microsoft to bid on TikTok’s U.S. assets
The Bentonville-based company also expanded its investments in services like next-day/two-day delivery, and curbside pickup. Walmart Plus will also enable members to scan products via Walmart app to make payments, removing the need to wait in line. At close to 2,000 Walmart – Murphy USA fuel stations, members will also relish a discount of 5 cents on every gallon.
Walmart also said last week that it was teaming up with Microsoft to bid on TikTok’s U.S assets. The American multinational retail corporation is committed to expanding its footprint in the advertising business.
At the time of writing, Walmart Inc. has a market cap of £299 billion and a price to earnings ratio of 27.08.