Walmart+ has reached a new milestone, with 30% of consumers now subscribing or having access to the service.
Millennials are driving this growth, with nearly half subscribing to Walmart+. This contrasts sharply with baby boomers and seniors, of whom only 15% subscribe to Walmart+. However, the majority of older consumers still participate in retail subscriptions, with six in ten holding either a Walmart+ or Amazon Prime account.
Walmart+members shop more frequently and spend more than non-members, according to media remarks from Walmart CFO John David Rainey.
Meanwhile, Amazon continues to expand its Prime membership globally, underscoring the competitive landscape of retail subscriptions.A striking 90% of millennials have an Amazon Prime account.
In a bid to enhance its online grocery services, Great Britain’s Co-op has teamed up with Walmart to implement "Store Assist" technology. This partnership aims to streamline fulfillment processes and improve delivery times by managing various order types from a single platform. Co-op aims to capture over a third of the quick commerce market by focusing on ease, speed, and convenience.
This move is timely as grocery shoppers tend to return to physical stores during the warmer months. The new technology will enable faster and more efficient deliveries.
Walmart is also leaning into technologies to improve demand forecasting, inventory accuracy, and cost optimization. By integrating artificial intelligence (AI), machine learning (ML), and enhanced computing power, the retailer hopes to integrate data from various sources to enable real-time visibility and proactive responses to disruptions.
The company’s Emergency Operations Control plays a pivotal role in managing supply chain risks through AI-driven simulations. These scenarios are meant to ensure that Walmart remains well-prepared to handle disruptions and consistently meet customer expectations.
