Tuesday September 1,2020, Walmart (WMT) announced that it will be rolling out its much-anticipated answer to the rivaled Amazon Prime. In a couple of weeks, Walmart, Inc. will be launching it’s membership, subscription-based service coined the “ultimate life hack,” Walmart Plus. This service will offer a variety of premium features such as unlimited free delivery on groceries, produce, and tens-of-thousands of their online products. Simultaneously, the service will offer fuel price reductions for its members. Walmart+ will also be shaking up the in-store checkout game with a new way to checkout.
No longer will customers need to wait in line at grocery stores. With Walmart+, users can shop in-store and their items will be added to their cart on the mobile application. Once the customer is ready to checkout, they just pay on the Walmart app. This comes at a convenient time when contactless systems are becoming more prevalent.
“We’ve tried to make a membership that makes it easier for customers to shop, manage their daily lives, and to manage their pocket books,” says Walmart’s Chief Customer Officer, Janey Whiteside, in a conference on Monday. Walmart+ will deliver a new exciting way to shop in-store and online, and the market is certainly reacting.
On Tuesday, Walmart stock saw nearly a 6% gain before the afternoon. This is all coming at a time before the announcement of Tik Tok’s bid, which reportedly will result in an ownership of partners Walmart and Microsoft. We are breaking this story as it develops.