Walmart launches $120 membership bundle with Sam's Club ahead of holidays

Walmart

Yesterday 10:47

Oct 20 (Reuters) - Walmart WMT.O 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 TGT.N and Kroger KR.N, 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 COST.O 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)
 ((Juveria.Tabassum@thomsonreuters.com))