Following the announcement of the launch of a subscription service worth less than $100 per year, retail network shares increased by 7%.
The Walmart+ service will be launched in July. The exact list of benefits that subscribers will receive until they are made public is expected to be free delivery of purchased goods on the same day, gasoline discounts and other bonuses. After the announcement of the imminent launch of the Walmart subscription service, the Walmart promotions increased by 7%, their value on July 7th was $126.95.
The company initially planned to launch its subscription service in March or April, but due to the coronavirus pandemic, this event had to be postponed until July. However, the exact start date of the service has not yet been announced.
Also, the subscription price is already known to be $98 per year. Given that the main competitor of Walmart+ in this area, Amazon Prime, whose number of subscribers exceeds 150 million, is available for $ 119 per year, the company made a serious bid for leadership.
Walmart already offers customers a delivery service Delivery Unlimited. Still, it allows you to order a limited range of products, as well as buyers often find it impossible to book delivery for the desired time. All these problems will be solved at Walmart+. The main strengths of the new service will be the speed of delivery, a wide range of products, and affordable prices.
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