Walmart announced on Tuesday the launch of a new joint membership that combines the benefits of Walmart's main brand with those of its subsidiary Sam's Club. The retail giant is continuing to push convenience services and high-value offerings as it seeks to win over budget-conscious shoppers.
The company said the joint membership integrates Walmart+ and Sam's Club Plus, priced at $120 per year. Compared with buying the two annual plans separately, this bundled package is nearly $100 cheaper; however, the joint membership does not support monthly payments. Walmart and Sam's Club will still keep their own standalone membership options.
Walmart CEO John Furner said in a statement: "We're giving customers a reason to expect more from a membership. For just $120 a year, we're redefining the value of membership: helping people save more money and more of their personal time."
Customers who purchase the joint membership can access Sam's Club warehouse stores, enjoy free delivery from both chains, choose a Peacock or Paramount+ streaming subscription, get fuel discounts, and earn 2% cash back on eligible Sam's Club purchases. Users who already hold both memberships can link their accounts to enjoy the bundled benefits.
Walmart stores focus on everyday essentials, while Sam's Club warehouse stores are better suited to bulk stock-up shopping. Walmart said the joint membership allows the two formats to complement each other.
The launch of this membership comes as the company bets on convenience services to drive revenue, with gasoline and food prices high and consumers under financial pressure. The membership business is an important lever for Walmart to boost high-margin revenue and is currently gaining strong momentum. Financial results show that in the second quarter of the fiscal year, Walmart's global membership income rose 17% year over year, and Walmart+ added a record number of new members for a second quarter; Sam's Club membership income rose 6% year over year.
Walmart added on Tuesday that employee benefits at both chains will also include this joint membership. The company said the related costs from this membership system adjustment are not expected to have a material impact on its guidance for the third quarter of the fiscal year or for the full year.
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