Walmart (WMT) will launch a new subscription service, Walmart+ later this month according to Recode.com. For $98 a year, a price comparable to Amazon Prime, subscribers will get same-day delivery of groceries and general merchandise, discounts on fuel at Walmart gas stations, and early access to product deals Walmart had planned to launch Walmart+ in March or April but delayed the debut because of the coronavirus pandemic. It’s not clear whether the launch will be regional or nationwide.
Walmart’s online sales grew by 74% in the first quarter as shoppers moved online in the virus outbreak.
Amazon Prime, launched in 2005, now has 150 million members globally. U.S. membership hit 118 million as of March 31.
In a related story Amazon is reportedly considering a move of its Prime Day sales event to October on worries bout supply-chain delays caused by the pandemic. Prime Day usually takes place in July.
Shares of Amazon (AMZN) were off 1.86% at the close today while Walmart shares advanced 6.78%
