Walmart's answer to Amazon Prime set to launch in July, according to report [View all]
Source: CNBC
... the membership program will cost $98 per year and include same-day delivery of groceries, fuel discounts at Walmart gas stations and other perks. The report cites multiple unnamed sources.
Since Amazon launched the Prime program about 15 years ago, it’s grown to more than 150 million members. Amazon has used the subscription-based service to entice customers to shop more frequently on its site. For $119 each year, customers get fast and free shipping, access to Amazon’s streaming service and discounts at Amazon-owned grocery store Whole Foods.
Walmart has significantly grown its e-commerce business, but it’s lagged behind Amazon in market share and market cap. Amazon is valued at about $1.5 trillion, compared with Walmart, which is valued at about $358 billion as of midafternoon Tuesday.
Walmart reported online sales growth of 37% for last year, topping its own goal of 35% growth. Its online sales surged by 74% in the fiscal first quarter that ended April 30, as the coronavirus pandemic drove more customers online for groceries and other essentials.
The retailer has leaned on its grocery business to grow online. Walmart delivers to the home, but it also offers curbside service at its brick-and-mortar locations as a convenient option for customers. This spring, Walmart launched Express Delivery at many of its stores. The new service, which has a $10 fee, delivers purchases to customers’ doors in less than two hours.
Read more: https://www.cnbc.com/2020/07/07/walmarts-answer-to-amazon-prime-set-to-launch-in-july-according-to-report.html
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