Oct 20 (Reuters) – Walmart on Tuesday launched a $120-a-year bundle combining its Walmart+ and Sam’s Club Plus memberships, offering shoppers a discount of nearly $100 versus buying the subscriptions separately ahead of the holiday season.
Here are some details:
• The retail giant heads into the holiday shopping season amid weak consumer spending, particularly among lower- and middle-income households
• Walmart, along with rivals Target and Kroger, has lowered prices on thousands of items this year to attract budget-conscious shoppers
• Walmart reported its slowest quarterly comparable sales growth in six years in August, with average spend per visit also softening from a year ago
• The retailer is also relying on its advertising platforms to support profits and help maintain margins
• Membership-only retail chains such as Costco and discount grocery chains such as Aldi have seen stronger traffic in the US as shoppers look for convenience and value
(Reporting by Juveria Tabassum and Neil J Kanatt in Bengaluru; Editing by Aseem Gujar)
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