What: Walmart's membership program could already account for 7.4 to 8.2 million members

Why is it important: 30% of online grocery transactions come from Walmart while Amazon accounts for about 27%, down from 33% in 2019

Five months after Walmart's membership program was released, Consumer Intelligence Research Partners analysis indicates that it has garnered between 7.4 million and 8.2 million members. On the other hand, Cowen analysts estimate 12 million U.S. households have Walmart+ memberships and 69.6% use them at least once per week. Despite economic uncertainty, it seems Walmart shoppers are willing to spend the USD 98 annual subscription service (or USD 12.95 per month).

Members currently account for about 13% to 14% of total Walmart.com. Consumers that shop for groceries at Walmart.com spend almost double the average online Walmart shopper per year, the CIRP survey shows, at USD 1 900.

Walmart+ program gains traction 5 months after launch