As the retail apocalypse continues to take down some of our favorite brick-and-mortar stores like Bed, Bath & Beyond and Pier 1, the remaining retailers must armor up and strategize, thinking not only quickly, but digitally as well. It seems Walmart already has something up its sleeve— a new program that will allow shoppers to get their hands on items more quickly than ever before.
According to Vox Rebound, Walmart has plans to start testing out a membership program called Walmart+, which could roll out as early as this month. Basically, this program will entail unlimited delivery service, including same-day grocery delivery, for a set yearly fee. Now if you're thinking that sounds a lot like Amazon Prime, you're not wrong. This new program would essentially follow Amazon Prime's delivery model, but instead of charging $119 a year, it would only cost $98. While details are still being ironed out (meaning all of this is subject to change), Walmart is also considering implementing a feature that would allow customers to place orders through text.
To give a little background on why Walmart might choose to create such a seemingly similar model to that of Amazon Prime, know this: In 2019, Walmart was ranked the number one retailer in the nation based off revenue, according to Forbes. Following right behind Walmart was, of course, Amazon. While Walmart beat Amazon by a landslide overall, its e-commerce sales were far below those of the online retailer. Amazon accounts for nearly 38 percent of online retail in the United States, while Walmart accounts for just 4.7 percent, according to Vox Rebound. In efforts to compete against Amazon, Walmart might just be taking a tip from its biggest competitor. Wild, right?
Stay tuned. We'll keep you updated on all things Walmart+ as more details roll out. But if this all goes as planned, it will be like having to choose between Netflix or Hulu, as we love both so much, but only want to pay subscription fee!
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