Walmart has announced a new annual subscription-based membership called Walmart+ as the company attempts to compete with e-commerce giant Amazon.
Yahoo Finance reports that Walmart has revealed its highly-anticipated annual subscription membership, called Walmart+, which launches nationwide on September 15 and will cost $98 per year or $12.95 a month. The service is a clear attempt to compete with e-commerce giant Amazon, Walmarts biggest competitor, which offers its yearly Amazon Prime subscription for $119 per year.
This move also helps to cement Walmart’s footing in the e-commerce world. During the height of the coronavirus pandemic and lockdown orders, Walmart was one of the few essential businesses that remained open. The company also saw a huge spike in its e-commerce business as consumers stocked up amidst worries relating to food availability during lockdown.
Walmart+ gives members access to unlimited free delivery on over 160,000 items, delivering everything from groceries to toys and electronics directly to customers’ doors as soon as the same day. The Walmart+ membership also offers fuel discounts of up to 5 cents per gallon at Walmart, Murphy USA and Murphy Express gas stations.
Walmart’s Chief Customer Officer, Janey Whiteside, commented: “We’ve talked a lot about how the way customers shop is rapidly evolving today more than ever. We know that customers want more products than they can find in stores and online.”
Whiteside continued: “We know they want services that solve the needs that pop up in daily lives. And we know that our customers are looking to get time back all while keeping more money in their pocket.”
Walmart plans to add more perks to memberships in the future and is currently offering a 15-day free trial of the membership.
This isn’t Walmart’s only move into the digital space, Breitbart News recently reported that Walmart is teaming up with tech giant Microsoft in a bid to purchase TikTok. Walmart shares hit a 52-week high of $139.35 on Thursday following the announcement.
TikTok’s Chinese parent company, ByteDance, is reportedly getting close to an agreement to sell it’s U.S., Canadian, Australian, and New Zealand operations in a deal that is expected to be in the $20 – $30 billion range. ByteDance has yet to choose a buyer but could announce a deal in the coming days according to sources.
Joining Microsoft’s bid, Walmart is now competing with another U.S. tech giant, Oracle, to buy the popular social media app. A Walmart spokesperson declined to outline how Microsoft and Walmart would split ownership of TikTok if their bid is successful. Walmart is pursuing the acquisition at a time when the retailer is attempting to better compete with Amazon.
Read more at Breitbart News here.