Walmart announced a combined membership that pairs Walmart+ with Sam's Club Plus for $120 a year. The company says that is almost $100 less than buying the two annual plans on their own, though there is no month-to-month version.
All standard perks remain: access to Sam's Club clubs, complimentary delivery offered by Walmart and Sam's Club, a Peacock or Paramount+ subscription, fuel savings, and the ability to earn 2% Sam's Club Cash on qualifying purchases. If you already have both memberships, you can link your accounts to get the discount. Walmart and Sam's Club will still sell their standalone memberships.
"We're giving people a reason to expect more from their memberships," said Walmart CEO John Furner. "For $120 a year, we're raising expectations for what a membership can deliver: more money in their pockets and more time to call their own."
Walmart framed the move as a convenience play at a time when budgets are stretched by higher gas and grocery bills. The company also says the two formats complement each other - Walmart for routine essentials, Sam's Club for bulk stock-ups.
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In August, alongside fiscal second-quarter results, Walmart raised its full-year outlook. Chief Financial Officer John David Rainey told CNBC that consumer spending was holding up even with higher fuel prices. Even so, shares fell at the time after its sales outlook underwhelmed Wall Street. Rainey also said Walmart was cutting prices in several categories, including beef, and argued the company is positioned to manage uncertainty thanks to its scale and focus on value.
Membership is a margin-friendly part of that strategy. In the fiscal second quarter, Walmart's worldwide membership revenue rose 17%, with Walmart+ net additions hitting a record for a second quarter. At Sam's Club, membership-related revenue grew 6% in the same period.
In the fiscal second quarter, Sam's Club said e-commerce sales rose 26% as more transactions and rising membership fueled the gains, and total net sales reached $25.7 billion, with fuel included. Walmart added that employees at both brands will receive the joint membership as a benefit. The company does not expect costs tied to these membership changes to materially affect fiscal third-quarter or full-year guidance.
The bottom line: Walmart is leaning into paid membership to deepen loyalty and mix in higher-margin revenue. If the bundle boosts sign-ups and engagement across both banners, it could support steadier traffic and stickier spending - useful traits when the macro picture is choppy.
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