Walmart Shares Head Higher as Walmart+ Launch Nears

Watch out Amazon Prime, there’s a new competitor in town that’s getting ready for a launch this month.

Walmart shares were moving higher this week as the retailer is preparing to launch its Walmart+ this month according to Vox’s Recode who cited unnamed sources.

The subscription-based program will compete with Amazon Prime but details or the perks of the service have yet to be released by the big box retailer.

It was in February that Walmart announced plans to roll out a subscription-based service called Walmart+, but it hasn’t revealed details or its strategy to attract members and stand out from competitors.

The membership program will cost $98 per year and include same-day delivery of groceries, fuel discounts at Walmart gas stations and other perks, according to the Recode report.

Walmart had planned to launch Walmart+ in late March or April but delayed it because of the coronavirus pandemic.

A Walmart spokesperson confirmed the membership offering and name to Tom’s Guide, but declined to comment further.

Vox had reported that Walmart Plus may enable customers to use text messaging to place orders. Other perks could include discounts on prescription drugs. Plus, Walmart Plus members may be able to check out in Walmart Stores without waiting in line, building on the retailer’s previous Scan & Go service.
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t was back in May that Walmart had reported a 74% increase in e-commerce sales for the latest quarter.

Disclaimer: We have no position in Walmart Inc. (NYSE: WMT) and have not been compensated for this article.