Walmart developing Amazon Prime competitor, Walmart+
Membership-based Walmart+ could offer similar features to Amazon Prime
Retailer Walmart wants to go head to head with Amazon.
The chain, which brought in $514 billion in revenue in 2019, is reportedly working on a paid membership model called Walmart+ that would directly compete with Amazon Prime.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WMT | WALMART INC. | 60.14 | +0.61 | +1.02% |
The offering would include certain Amazon-like perks, according to Vox, which first reported on the project, but the platform would also offer exclusive options, like text-to-order.
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Walmart declined to comment on the matter but could begin testing its membership model as soon as March, per the report.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 177.23 | +2.60 | +1.49% |
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No pricing for Walmart+ has been revealed by the company but it currently offers a $98 annual option for customers to get unlimited same-day grocery delivery. Amazon Prime members pay $119 a year for things like unlimited one-day shipping, TV shows and movies.
Walmart’s stock is up 13 percent on the year. Amazon is up 17 percent.
