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Oct 18, 2023

Walmart+ is a Huge Hit for Walmart & Cord Cutters

By Luke Bouma on in Walmart launched Walmart+, a subscription service, back in

By

Luke Bouma

on

in

Walmart launched Walmart+, a subscription service, back in 2019 to compete with Amazon Prime. At first, all you got was free delivery, gas discounts, and quicker checkout in stores. Now the service includes a host of other benefits, including free Paramount+ to help attract subscribers.

Now according to a Morgan Stanley AlphaWise Consumer Pulse Survey, Walmart+ has over 19 million subscribers, according to Investing.com.

"Walmart+ has ~19.3m members, or ~15% US household penetration. This is ~0.9m members above our last estimate in late February and represents both a record high membership count (surpassing the 18.6m result from October ’22) and the fourth survey in a row of membership growth," the analysts said in the report.

Walmart+ now offers subscribers free returns from home, free delivery from stores, scan & go, early access to deals including Black Friday deals, $0.10 off per gallon of gas at Exxon, Mobil, Walmart, and Murphy gas stations, rewards, and a free year of Paramount+.

Walmart still has a long ways to go to catch Amazon, which reportedly started in 2023 with 172 million subscribers. Amazon Prime was first launched in 2005. Amazon Prime has a huge headstart allowing it to have more subscribersbut Walmart is catching up.

According to Bloomberg, 28% of American households that make over $150,000 a year now subscribe to Walmart+, up from just 13% one year ago. Well, this is closing the gap with Amazon Prime Walmart still has a long way to go.

Right now, when looking at American households who make at least $150,000 a year, 77% of them subscribe to Amazon Prime. That is up from 70% one year ago.

Walmart's big selling point right now is the ability to get items now. Walmart has a store located within 10 miles of 90% of Americans. Amazon has been pushing its ability to have almost everything you may want increasingly though Walmart's growth has attracted more sellers to its website, helping it compete with Amazon.

Right now, Amazon still holds a strong lead as the largest online retailer in the United States. Walmart though is now firmly secured itself as the second largest retailer in the United States with plans to become the largest.

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