Walmart+ membership users doubled, will it shake Amazon Prime's position?

Walmart+ gained more wealthy shoppers than Amazon Prime in February, according to foreign media reports. However, Walmart+ still has a long way to go to surpass Amazon Prime.

According to data from business intelligence service Prosper Insights & Analytics, 28% of U.S. households with annual income of more than $150,000 became Walmart+ members in February, more than double the 13% in the same period of 2022.

Walmart+ has some potential advantages over Amazon Prime, including lower prices and more services. Walmart+ costs $98 a year, $41 less than Amazon Prime. 90% of Americans live within 10 miles of a Walmart store, making it easier for them to pick up and return items. In addition, Walmart offers gas discounts to its members, which Amazon does not do.

Earlier, Bloomberg reported that winning a place among wealthier shoppers is part of Walmart's brand reshaping efforts, as Walmart has always been known for attracting middle- and low-income shoppers. Looking ahead, winning the hearts of wealthier customers will be Walmart's top priority and an important part of its expansion of e-commerce business.

Walmart+ still has a long way to go to completely close the gap with Amazon Prime. As Walmart+ grows, Amazon Prime is also expanding. In February, the number of Amazon Prime members increased by 7%, attracting 77% of households with an annual income of more than $150,000. As of February, the total number of Walmart+ members was 18.5 million, and the total number of Amazon Prime members was 168 million.

It is worth noting that Amazon also has a much higher share of the US e-commerce market than Walmart. Overall, Amazon has a 37.6% online market share, while Walmart has only 6.3%. Amazon's e-commerce revenue is expected to reach $431 billion this year, while Walmart will only have $74 billion.

Compared to Amazon Prime, Walmart+ has a relatively younger user base, with 65% of its users between the ages of 18 and 44, while only 51% of Amazon Prime members are in this age range.

It is worth noting that a previous survey from Prosper Insights & Analytics showed that the growth rate of Amazon Prime membership stagnated from February 2022 to February 2023, during which time the Amazon membership user base did not grow. However, this survey was quickly opposed by Amazon.

“Amazon Prime continues to grow in the U.S. and around the world as the value members receive continues to grow,” said Amazon spokesman Bradley Mattinger.

Editor ✎ Nicole/

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