Walmart launches genius answer to Amazon Prime Days

The retail giant is already ahead of Amazon with a promotional event that has customers flocking.

Jun 18, 2024 - 06:30

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Walmart launches genius answer to Amazon Prime Days

Team England versus Italy in the European Championships. Joey Chestnut versus Takeru Kobayashi in hot-dog-eating contests. The U.S. versus the rest of the world in the great pineapple-on-pizza debate.

These are just some of the more iconic competitions we've had the privilege of witnessing in recent years.

But if you're in the retail space, you're probably a little more interested in Walmart (WMT) versus Amazon (AMZN) , which has proved to be a showdown for the ages.

The two are in constant, relentless pursuit of each other. Amazon continues to make strides in quicker shipments via conventional roadways, and Walmart has been particularly vocal about its drone delivery capabilities, which it says is progressing each day.

Both retailers want a bigger slice of market share and are willing to go to great lengths to get it. As of late 2023, Amazon had over 37% of online U.S. retail market share, while Walmart had more than 6%. On the brick-and-mortar side, Walmart easily takes the cake, dwarfing Amazon's relatively minimal in-person presence.

Amazon is firmly in the lead when it comes to e-commerce, but given Walmart's more than 10,000 store locations, it has got ambitions to catch up — and fast.

An employee gathers online orders at a Walmart market fulfillment center in the back of a store in Grapevine, Texas.
Bloomberg/Getty Images

Walmart and Amazon gain on each other

For us onlookers (and consumers), the contest between Amazon and Walmart is a joy to watch.

When Amazon pulls ahead in delivery speed and volume, Walmart beats it in terms of overall sales. It's the beauty of the free market that enables competition to heighten and the consumer experience to improve.

More Walmart:

Part of that battle means increased effort to capture and delight more new customers. Both giants offer a robust paid membership program, a sort of gold mine for retailers since it offers sticky and recurring revenue.

Amazon Prime, which costs $139 per year, offers the following:

Free shipping and returns, often two-day or next-day on eligible items
Access to Prime Video streaming
Savings at Whole Foods Market
Access to the Amazon Prime Rewards Visa Signature Card
Access to Amazon Fresh grocery stores
Try Before You Buy shopping
Amazon Photos storage

Walmart+, the answer to Amazon Prime, offers distinctly different (but competitive) perks:

Cheaper, at $98 per year
Free store delivery
Free shipping and returns on eligible items
Fuel savings at Exxon, Mobil, Walmart and Murphy gas stations
Included Paramount+ streaming subscription
Limited auto maintenance at Walmart Auto Care Centers
Cash back on select travel expenses
Members-only prices during select promotions, like Black Friday
Mobile shopping in-store

Walmart launches early Prime Day-type savings

Prime still has the lead over Walmart+. Some 200 million shoppers subscribe to Prime, while about 59 million have Walmart+.

But that isn't stopping Walmart from doing everything it can to gain more customers.

The retailer launched on Monday its early version of Amazon Prime Days, called Walmart+ week, which boasts an impressive list of savings and promotions to tempt customers into spending early.

Some of those include:

Double fuel discounts at Exxon and Mobil gas stations
Up to 20% back in Walmart Cash on flights, hotels, car rentals, and other activities booked via Walmart+ Travel
Free Express Delivery in under two hours, which usually costs $10
Three months free of Walmart+ InHome home delivery service
Mystery offer on June 20

The savings event — the second of its kind since it started last year — began at noon Eastern on June 17 and runs through June 23. It's been placed to run strategically ahead of Amazon Prime Days, which typically runs for two days in early July and promises to offer similar deep discounts and savings for members.

Amazon has said it will soon announce when its 2024 Prime Days event will be held.

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