Walmart plans to compete with Amazon Prime
The program would reportedly have perks that Amazon can't match
Walmart plans to roll out their new grocery subscription service to more than half of the country by the end of 2019.
Walmart has been quietly working on developing its own paid membership program to go up against Amazon Prime,
The program would reportedly have perks that Amazon can't match and could be launched as soon as next month called Walmart+.
The work has been going on for the last 18 months, according to Recode.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The program is seen as rebranding of Walmart's existing Delivery Unlimited service which charges $98 a year for unlimited, same-day delivery of fresh groceries from the Walmart stores where the program is available.
Among the possible perks in the new service could be discounts at Walmart pharmacies or fuel at walmart gas stations.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WMT | WALMART INC. | 88.38 | +1.19 | +1.36% |
| AMZN | AMAZON.COM INC. | 198.38 | -4.50 | -2.22% |
A Walmart spokesperson confirmed to Recode the membership program and Walmart+ name were in development, but declined to provide any further details.
WALMART ROLLS OUT UNLIMITED GROCERY DELIVERY SUBSCRIPTION
Amazon's Prime service has more than 150 million members worldwide, costing $119 per year. Amazon accounts for nearly 40 percent of all online sales in the U.S., according to eMarketer,
CLICK HERE TO READ MORE ON FOX BUSINESS
The goal for Walmart's program is to save customers time and money and keep them loyal to the Walmart brand either online or at brick-and-mortar locations.