Walmart+, the paid loyalty program Walmart Inc. launched in September 2020 , hit a plateau at about 11 million members in the quarter ending in July 2022, according to a report from Consumer Intelligence Research Partners LLC (CIRP), a Chicago-based market research firm.
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The 11 million members represent roughly 22% growth compared with 9 million members a year earlier, in July 2021. But that membership level is flat compared with the previous quarter. It also represents no growth since the start of 2022, says Josh Lowitz, partner and co-founder of CIRP.
Lowitz says Walmart+ membership has remained within 11 million to 11.5 million customers. Previously, the program had grown steadily. 25% penetration rate
The report says the Walmart+ penetration rate was 25% for the quarter ending in July 2022. That means 25% of Walmart.com customers CIRP surveyed reported being members. That penetration was only a slight increase from the previous quarter.
“It’s not clear why Walmart+ has stalled, at least based on our data,” Lowitz says. “It seems to result to some extent from slow growth in Walmart.com, which has languished as Walmart has welcomed customers back to in-store shopping.” Will Walmart add streaming video?
Last week, the Wall Street Journal reported that the giant retail chain was talking with Disney, Comcast and Paramount about adding one of their streaming video services as one of the benefits for Walmart+ members. Current benefits include free shipping for online orders, discounts on gasoline, and first access to special promotions and events. The program costs $12.95 a month or $98 a year.
In April 2020, Walmart (No. 2 in […]
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