'Walmart Cuts Price Of Walmart+ For Households That Receive Food Stamps, Other Government Aid' - CNBC
Portfolio Pulse from Benzinga Newsdesk
Walmart is reducing its Walmart+ membership fee by 50% for Americans who receive food stamps or other government assistance. The move is aimed at growing its membership base and retaining price-sensitive shoppers. The discounted price could make Walmart+ more accessible to over 41 million Americans who received food funding through the SNAP in 2022. Walmart's membership count is estimated to be around 12-21.5 million, significantly lower than Amazon Prime's estimated 170 million memberships in the U.S.
July 20, 2023 | 12:55 pm
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NEUTRAL IMPACT
Despite Walmart's move to cut Walmart+ membership fee for Americans receiving government aid, Amazon Prime still holds a significant lead in terms of membership count with an estimated 170 million memberships in the U.S.
While Walmart's move could potentially attract more members, Amazon Prime still holds a significant lead in terms of membership count. This suggests that Amazon's dominance in the online retail space is unlikely to be significantly affected in the short term.
CONFIDENCE 90
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
Walmart's decision to cut Walmart+ membership fee for Americans receiving government aid could potentially increase its membership base and revenue. However, it's still significantly behind Amazon Prime in terms of membership count.
The price cut could attract more members to Walmart+, increasing its revenue from membership fees. However, the company still lags significantly behind Amazon Prime in terms of membership count, which could limit its market share in the online retail space.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100