Walmart's "Walmart+" is to be announced this July, rivaling Amazon's Prime Service.
Walmart is prepared to release its Walmart+ membership this July, which will act like Amazon Prime by offering free shipping through a subscription-based pricing model. The price of Walmart+ is expected to be $98 annually and will include exclusive access to Walmart's two-hour delivery service (which is still in early stages), same-day delivery of goods from Walmart Supercenters, and a reserved delivery slot in-store.
Additional benefits of Walmart+ include discounts on gas from Walmart's gas stations and scan-and-go access, which allows customers to purchase items without waiting in line. Although these features sound impressive, Amazon Prime is still loaded with a variety of value. For roughly $160, Amazon Prime gets you free two-day delivery, exclusive discounts on Amazon and at Whole Foods, access to Amazon's streaming service and music library, and more. However, it seems Walmart's main goal with Walmart+ is to offer a quicker delivery service that Amazon is unable to compete with at the moment because it does not have nearly as many centers around the country as Walmart. This allows Walmart to offer same-day shipping practically anywhere in the country, although it is only a matter of time before Amazon is able to do the same.
Walmart's stock (WMT) rose more than 6% today on the announcement of the Walmart+ scheduled release and is continuing to rise.