Walmart (WMT) -) might be known for some of its viral brawls, but the retailer is making it clear its not afraid to get fierce in its own fight for retail supremacy.
On July 20, the company announced an addition to its Walmart+ subscription called Walmart+ Assist. Designed specifically to help those on government assistance, it offers the perks of the Walmart+ membership for an annual cost of $49 -- 50% off the regular price.
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"The program is available to all eligible new and existing members," the announcement says. "Existing members who qualify and sign up will receive a prorated refund and the new price will start immediately."
Amazon (AMZN) -) Prime also offers its own program for those on government assistance, which also offers 50% off Prime a month, but it's just a tad more expensive at $6.99 ($83.88 a year).
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The move is obviously designed to directly undercut Amazon's service, and it's part of a plan Walmart has been hammering away at for some time. While Amazon seems larger than life, Walmart is still the bigger retailer in terms of revenue. But it has the disadvantage of not having launched its own subscription program until 2020, while Amazon launched Prime way back in 2005 -- and that 15 year gap gave it a lot of time to gain customers.
Amazon's last official confirmation of subscribers was in 2020 and cited 200 million. Meanwhile, Walmart has 59 million according to PYMNTS, based on consumer survey data (Walmart has not officially confirmed a subscriber count).
However, with over 41 million Americans on government assistance for food as of 2022, $49 a year is probably a lot more appealing than $83. In other words, Amazon better watch its tail, because Walmart is coming for it.
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