Amazon may have a 15-year head start, but Walmart is close to finally unveiling its own membership program that it hopes will eventually become an alternative to Amazon Prime.
Walmart plans to launch a new subscription service later this month called Walmart+ that will cost $98 a year. It will include perks like same-day delivery of groceries and general merchandise, discounts on fuel at Walmart gas stations, and early access to product deals, multiple sources told Recode.
Walmart originally planned to unveil Walmart+ in late March or April, Recode reported in February, but the retailer pushed back the launch date after the Covid-19 pandemic began sweeping across the US in March. It’s unclear whether the program will launch nationally, or first on a regional level, later this month.
While Covid-19 panic-buying helped boost Walmart sales to record highs earlier this year, its US e-commerce presence is still only around an eighth the size of Amazon’s. Today, Amazon is valued at $1.5 trillion, while Walmart is worth $337 billion. And Amazon Prime is a big reason why.