Walmart+ Announcement Raises Shares by 6%

The Walmart Corporation shocked its investors & consumers by announcing a subscription service that focuses on their grocery products. August 31st marked the date when “Walmart+” was announced & an immediate positive reaction was seen throughout Wall Street. Forthcoming perks associated with this membership program saw an influx of pre-registrations, allowing for the Walmart Corporation to have their shares increase by 6%. It marks a 52-Week peak for the supercentre company, creating a company valuation of $418 Billion.

Walmart revealed its subscription-based grocery service would become operational on September 15th. Consumers can select to purchase monthly subscriptions at $12.95 or save $57.40 by choosing the yearly package. Year-long subscribers will payout $98.00 for their commitment to Walmart+.

Details were provided on what consumers can anticipate when subscribing to the Walmart Corporation, which will include “Unlimited Free Home Delivery’ for 160 thousand products. Those products aren’t exclusively groceries and extend towards apparel & entertainment. Consumers purchasing orders worth more than $35.00 will receive $0.05 discounts at Walmart Fuel Stations throughout the United States. The final subscription feature awarded on the September 15th launch date is skipping checkout lines at Walmart locations in America. Canadians won’t have access to the Walmart+ Subscription Service.

Consumers that don’t engage with the Walmart+ subscription service & continue to use their delivery service will pay anywhere from $7.95 to $9.95. The cost is dependent on the associated weight, time slot, and selected products. All 4700 Walmart locations are supporting the subscription service starting on the 15th. New workforces are being hired to account for increased deliveries, which has assisted with the company’s valuation increasing to $418 Billion. It should be mentioned that their valuation is considerably lower than their main rival of Amazon, which is worth $1 Trillion.

Competing with Amazon

The Chief Customer Officer of Walmart, Janey Whiteside, denied that their subscription service is intent on competing with Amazon Prime. The CCO remarked that the two subscriptions are entirely different, with the Amazon Company supported a multitude of features with Prime. Janey Whiteside said that Walmart+ is meant to be a life hack, saving families money on their monthly expenses.