Walmart+ Tipped To Take On Amazon Prime Later This Month
Amazon has practically won the e-commerce race and much of that isn't simply because of the convenience of online shopping. Its subscription-based Prime membership is a major factor in its success, providing exclusive perks that even go beyond the act of buying things. Amazon's biggest rival isn't taking the threat sitting down, of course, and Walmart may soon launch its own Walmart+ loyalty program within just a few weeks.
Amazon Prime offers many perks at the cost of a $119 annual subscription, a requirement that the e-tailer giant has softened in the past years to make the offer more attractive and more accessible. In addition to shopping perks like express deliveries, a Prime membership also gives shoppers access to Amazon's growing portfolio of digital content, both music and videos. Although Walmart still has the upper-hand when it comes to groceries, it fears that people are starting to turn to Amazon even for those items, which is why it's fighting back with Walmart+.
Walmart's Amazon Prime rival has been rumored as early as February this year but the COVID-19 pandemic has reportedly forced it to push back the launch. Now sources claim that Walmart is eying a launch before July ends, a rumor that has caused its stocks to rise for the day.
Unlike Amazon, however, Walmart+ will mostly be limited to grocery-related perks and discounts on some of its properties. For $98 a year, subscribers will be able to avail of unlimited same-day delivery of groceries, delivery and open slot notifications, and limited two-hour Express delivery. There will also be discounts at Walmart gas stations and early access to some deals. These features could be selling points at a time when money is short and demand at groceries mean shoppers have to vigilantly keep an eye out for available slots to open.
It's not yet known how large Walmart+'s initial coverage will be, whether it will immediately be available nationwide or in certain regions only. The company is also reportedly planning to add video entertainment, just like Amazon Prime Video, and may even launch its own branded credit card someday.