Walmart’s paid membership program, Walmart+, reported a significant increase in subscribers, reaching a total of 28.4 million members by the end of January 2025. According to a recent survey conducted by Morgan Stanley, this marks a year-over-year growth of approximately 12% on a rolling three-month basis, an increase from 10% in November 2024.
The Walmart+ program, which costs $98 annually, offers various benefits including free deliveries on orders exceeding $35, next-day and two-day shipping from the retailer’s website, and access to streaming services like Paramount+ or Peacock. Members also enjoy savings on fuel, free pharmacy delivery, and a cash-back credit card that provides 5% back on purchases made at Walmart locations. The program features a Scan & Go option, allowing for expedited checkout using only a smartphone.
During Walmart’s earnings call for the third quarter of fiscal year 2026, Chief Financial Officer John David Rainey noted that this quarter represented the highest net additions for Walmart+ since its launch. He attributed the growth to enhancements in delivery speed, accuracy, and the introduction of the OnePay credit card, which has been well-received by consumers.
The report from PYMNTS titled “Winning Both Carts: Millennials Drive Surge in Having Amazon Prime & Walmart+ Subscriptions” indicates that the number of consumers holding subscriptions for both Walmart+ and Amazon Prime has nearly doubled between 2021 and early 2025. As of February 2025, about 24% of consumers reported having both subscriptions, with millennials leading this trend at 37%.
This growth is largely driven by consumers seeking to mitigate the impacts of rising prices and supply chain challenges. Many are strategically utilizing the offerings of both retailers, switching between Walmart’s grocery convenience and fuel discounts one month, and Amazon’s fast delivery and streaming services the next.
In July 2024, it was reported that 30% of consumers either subscribed to or had access to a Walmart+ account. Among millennials, this figure was notably higher at 47%, underscoring the program’s appeal to younger demographics.
Walmart’s continued focus on enhancing the value of its membership program appears to be paying off, as the company solidifies its position in the competitive retail landscape. The ongoing growth of Walmart+ reflects both consumer demand for convenience and the retailer’s commitment to adapting its services to meet the evolving needs of shoppers worldwide.
