Walmart’s paid membership program, Walmart+, sustained its momentum in January 2026, finishing the month with an estimated 28.4 million members according to a recent Morgan Stanley survey reported by PYMNTS. The retailer’s subscription offering grew at a double-digit pace, with membership up about 12% year over year on a three-month rolling basis, accelerating from roughly 10% growth in November.
The sustained expansion of Walmart+ underscores its growing strategic role within Walmart’s broader retail ecosystem. Membership benefits—including free deliveries on orders over $35, expedited shipping on online purchases, fuel savings at select stations, free pharmacy delivery, and streaming options—continue to attract customers seeking value and convenience. The program also features digital checkout options such as Scan & Go, which enhances the in-store experience by enabling contactless checkout via smartphone.
Walmart’s most recent quarterly earnings confirmed that Walmart+ fee income grew at a double-digit rate, contributing to broader membership and other income growth across the enterprise. Globally, this segment rose approximately 17%, while in the U.S., Walmart+ has driven much of the subscription growth. Sam’s Club, another membership-based format within Walmart’s portfolio, also continues to grow its membership and renewal rates, although at a more moderate pace. These results illustrate the increasing importance of recurring revenue streams and loyalty programs to Walmart’s financial performance.
Analysts view Walmart+ not only as a loyalty driver but also as a strategic differentiator in the competitive retail landscape. Membership programs like Walmart+ encourage more frequent shopping and deeper engagement with Walmart’s physical and digital channels—a dynamic similar to other subscription retail models where members tend to spend more and return more often. As consumer expectations around convenience, delivery speed, and value continue to evolve, Walmart’s investment in its membership ecosystem positions the company to strengthen customer retention and generate higher-margin revenue beyond traditional merchandise sales.
As 2026 progresses, continued growth in Walmart+ memberships will likely remain a key metric watched by industry observers and investors alike, serving as a barometer for customer loyalty and the effectiveness of Walmart’s omnichannel strategy.
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