Walmart launched a discounted joint membership with its warehouse club Sam's Club on Tuesday, combining Walmart+ and Sam's Club Plus for $120 a year. The company said the bundle saves customers who purchase the memberships individually around $100 annually. The move reflects Walmart's push to attract Americans struggling with the cost of living as inflation remains elevated.
The combined membership provides access to members-only discounted prices at Sam's Club, free delivery on goods from both retailers, a Peacock or Paramount+ subscription plan, 10 cents off on gas at 17,000 stations across the United States and rewards on eligible purchases. Existing members can also upgrade their plans. Walmart+ members can switch to the dual membership for $22 more per year, while Sam's Club members can upgrade to Sam's Club Plus for $60 more per year, which includes Walmart+. Walmart CEO John Furner said in a statement that the company is "raising expectations for what a membership can deliver: more money in their pockets and more time to call their own."
The membership bundle represents part of Walmart's broader strategy to compete on price. The company announced price cuts across a range of products in August, including food items. Chief Financial Officer John Rainey stated at the time that "we're investing heavily in price because customers need us to and because we believe it drives market share gains over time."
Walmart's pricing strategy comes as consumers contend with persistent inflation. The Consumer Price Index rose at an annual rate of 3.7% in September. A recent CBS News poll found that nine in 10 Americans say prices are the most important factor shaping their economic outlook following five years of elevated inflation.