Walmart (WMT) will launch its expected annual subscription-based membership this month, known as Walmart +.
The annual membership, which starts Sept. 15 nationwide, will cost $ 98 per year, or 12 95 12.95 per month, the company said. There’s a clear shot around the bow on Amazon (AMZN) – Walmart’s fiercest retail rival – and it’s offered at a discount for the tech giant’s hugely popular, Prime 119 per year subscription.
It reinforces Walmart’s own online position in its own way. During this epidemic, Walmart changed to being an essential business that remained open. Recently, the company saw a huge increase in its e-commerce business, as customers stockpiled pantry essentials and other merchandise during the lockdown.
Walmart + members will have access to unlimited free delivery of over 160,000 items ranging from groceries and toiletries to toys and electronics, which will be delivered to their home immediately on the same day. To be eligible, orders must be at least 35.
Walmart + Membership also includes fuel discounts of up to 5 cents per gallon at Walmart, Murphy USA (MUSA) and Murphy Express gas stations. Members can access the scan and go feature in the Walmart app, to pay customers on the spot and avoid the cashier line.
Walmart’s chief consumer officer, Jenny Whiteside, called the membership program a “ultimate life hack” for its customers.
“We’ve talked a lot about the way consumers are buying today. We know consumers want more products than they can find in stores and online. Whiteside said in a call with reporters.
“We know they want services that address the needs that pop up in everyday life. And we know that our customers want to get everyone back in time while they have more money in their pockets, ”he added.
Vav lamart + benefits are in addition to the retailer’s existing inings fringes in addition to free curbside pickup, nextday delivery and two-day delivery.
To be sure, the retailer intends to add more permissions to offer membership in the future. Walmart is also offering a 15-day free trial for membership.
Given Amazon’s growing dominance, the subscription service has been expected for the last while.
Whiteside, however, denied the Amazon impact, saying it was “really important to us … to make sure we understand what’s most important to our customers.” “When we went through the epidemic … what we saw was the needs of consumers, and the wants were changing, and initially, on an almost daily basis,” he added.
According to the executive, Walmart wants its customers to understand what is important and to provide decent benefits that are “strong enough and adequate on that scale.”
Shares of Walmart have risen more than 13% year-over-year. The stock fell 45 1.45 or 1.03% to close at 8 138.85 on Monday.
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Julia La Roche is a correspondent for Yahoo Finance. Follow on Twitter.
