Walmart+ subscribers exceed 30%, millennials are keen on subscription services

It is learned that according to foreign media reports, in the retail industry, Walmart and Amazon are using paid membership programs to increase member loyalty, among which millennials are the group most enthusiastic about subscription services.

According to the "Walmart+ Week 2024" report in late June, more than 7,700 respondents were surveyed, which delved into consumers' subscription and purchasing behaviors during Walmart+ Week.

About 30% of consumers subscribe to or have access to a Walmart+ Week account, and 87% of those subscribers are also Amazon Prime members, according to the study.

For millennials, that number grows 50%, with 47% having or having access to a Walmart+ account, while 90% also have a Prime membership.

In contrast, baby boomers and seniors are the least likely to subscribe to Walmart+, with only 15% opting for it. But that doesn’t mean these older consumers are ignorant of retail subscriptions. The majority of them (6 in 10) subscribe to at least one Amazon Prime or Walmart+.

“Walmart+ membership will continue to grow by double digits as members interact more frequently and spend more than other customers,” Walmart Chief Financial Officer John David Rainey said in May.

At the same time, Amazon's Prime membership program has also proven to be an important driver of its international expansion and one of the key factors in its global business success.

“We’ve entered 10 new countries over the past seven years,” Amazon CFO Brian Olsavsky said in April. “Each country has its own unique profitability curve. We focus first on providing a great customer experience to get people to sign up for Prime, and then we adjust our cost structure over time as we scale, use advertising and other measures. Ultimately, we see breakeven in countries where we can make a positive contribution to international markets.”

Author✎ Summer/
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