Dive Brief:
- Walmart+ Week returns on Monday with seven days of sales mostly exclusive to members of the retailer’s loyalty program, the company said in a blog post. The event runs through June 23.
- Deals include double discounts on fuel, 20% cashback in Walmart Cash on travel and activities, complimentary express delivery and three free months of Walmart+ InHome, the company said.
- This is the second year Walmart is offering Plus Week. The promotion is returning weeks ahead of rival Amazon’s Prime Day, which is set for July on a date to be announced, an Amazon spokesperson confirmed to Retail Dive.
Dive Insight:
This year’s Walmart+ Week is different from last year, a spokesperson told Retail Dive in an email Friday.
“Last year, it was an early access event, where Walmart+ members got the ability to purchase items before anyone else,” the spokesperson said. This year is seven days of savings across the entire offering of Walmart+ benefits. The event also includes exclusive access to new items, including electronics, toys, home and footwear, according to a preview link.
Walmart+ Week is important for the company as it helps drive sales and underscores the value of membership in the loyalty program, Neil Saunders, managing director of GlobalData, said in emailed comments to Retail Dive.
“Walmart will use the occasion to drive membership of its program, something it is keen to do as members spend more on average and are more loyal to Walmart,” said Saunders, who added that the company is making a prudent, strategic move by holding its event ahead of Amazon’s Prime Day “as it is hoping to get the first bite of the cherry at a time when consumers are being more careful with their spending.”
Walmart+ continued to grow double digits during the first quarter as members engaged with the retailer more frequently and spent more than other customers, Chief Financial Officer John David Rainey said during a recent earnings call. Annual membership for Walmart+ is $98. Half price $49 memberships are available for qualifying individuals who receive government assistance. The company introduced that offer last summer.
Target and Best Buy also got in on the summer sales promotion wave last year. Target Circle 360 offers a three level membership option that includes a paid tier. Best Buy had a “Black Friday in July” deal that offered member exclusive offers and added discounts on select products. Target also announced a revamp of its loyalty program earlier this year.
Walmart+ launched in 2020 “at a time when the supply chain was difficult, and so the continued momentum and improvements and being able to fulfill customers' orders with what they ordered when they ordered has been important … We think it's a great solution for customers, and it's been exciting to see the progress,” CEO John Furner said during a May earnings call.
