On July 6th, Amazon’s value hit a new record high, jumping to a price of $3,057 per share with a $1.5 trillion market cap. Amazon continues to grow, and CEO Jeff Bezos continues to get richer as e-commerce spikes amid the coronavirus pandemic. Without physical stores, most of the country has relied on Amazon to purchase essential goods. As a result, the retail giant keeps getting bigger.
If anyone could threaten Amazon it would be Walmart, the biggest company in the U.S. As it happens, Walmart is launching a subscription service akin to Amazon Prime to challenge Bezos’ e-commerce beast.
What We Know About Walmart+
Walmart+ will launch sometime this year and cost $98 annually, emerging as the first major competitor to Amazon Prime, at $119. Like Prime, Walmart+ will offer grocery delivery and same-day shipping on all products, as well as access to discounts and deals, according to Recode. It’s unclear exactly when Walmart+ will launch, as the rollout has been delayed a few times already.
More details should emerge this year, but Walmart+ will at least provide an alternative to Amazon. Of course, Amazon Prime launched way back in 2005, so Walmart has some catching up to do. As of February 2020, Amazon commanded nearly 40 percent of online commerce, while Walmart accounted for just five. As of now, Amazon Prime has a roughly 112-million subscriber head start, but time will tell if Walmart can bridge the gap.
We’ll keep you posted on updates about Walmart+ as they come out!
In the meantime, you’re welcome to a 30-day free trial to Amazon Prime.