Will Walmart+’s early weekday launch outperform Amazon Prime Day in 2024?

Last year, Target and Walmart sought to outshine Amazon during the Prime Day sales event on July 11 and 12 by hosting competitive sales events with deep discounts on popular products. Target Circle Week, which ran from July 9-15, offered up to 50% savings exclusively for Target Circle members. Walmart+ Week began on July 10 and ended on July 13, offering early access to exclusive offers to subscribers paying $98 per year. Both retailers leveraged their store networks and omnichannel capabilities to attract customers and provide enticing offers, challenging Amazon’s dominance in the online retail landscape.

This year, Walmart is stepping up in the members-only sales arena by launching Walmart+ Week ahead of its anticipated Amazon Prime Day event in July. This strategic move signals the start of the summer shopping season and marks the next chapter in the ongoing battle for paid membership programs.

Walmart+ Week will run from June 17-23 and will extend beyond last year’s four-day summer sale that coincided with Prime Day. This year, Walmart isn’t just focusing on product deals, but it’s also offering significant discounts on gas, travel, and more. This comprehensive approach is designed to enhance the value proposition for Walmart+ members.

One of the standout features of Walmart+ Week 2024 is increased fuel discounts. Members will enjoy a double discount of 20 cents off per gallon at Exxon and Mobil stations nationwide. Additionally, Walmart+ members can earn up to 20% back in Walmart Cash on vacations booked through Walmart+ Travel. This incentive will likely appeal to those planning summer trips, providing a significant boost to their travel budgets.

During the sale, members will also be able to enjoy one free express delivery by waiving the usual $10 fee for orders delivered in less than two hours. Adding a new element, Walmart will introduce its “first-ever mystery deal, set to be revealed on June 20.” This initiative, announced by Venessa Yates, Walmart+ general manager and senior vice president, is expected to generate additional member interest and engagement.

Walmart+ offers competitive membership costs of $98 per year or $12.95 per month. Benefits include free same-day shipping on orders over $35, discounted gas and access to Paramount+. Amazon Prime, on the other hand, costs $139 per year or $14.99 per month and offers free delivery, streaming services, music, and more. Amazon recently introduced a $9.99 grocery delivery subscription add-on for unlimited delivery orders over $35.

Meanwhile, other retailers like Target, Best Buy and Kohl’s typically hold their own sales to compete with Prime Day. On April 7, Target also launched its new Target Circle 360 ​​program, which is priced at $99 annually or $49 for Target Circle Card members.

Bloomberg Second Measure’s analysis of consumer transaction data reveals noticeable trends in the performance of Walmart and Amazon’s past summer events, shedding light on the comparative sales growth recorded by each retail giant.

During the week of Amazon Prime Day 2023, Amazon reported significant growth in U.S. consumer sales, with a notable increase of 45% week-over-week. On the other hand, Walmart saw its U.S. consumer sales decline during Walmart+ Week, with a weekly decline of 5%. However, it is important to note that the week leading up to the Walmart sales event saw a remarkable increase in Walmart+ membership sales, representing a significant increase of 43% compared to the previous weeks of 2023.

When examining broader sales trends for 2023, both Walmart and Amazon showed consistent patterns, with occasional fluctuations seen during specific periods. Notable exceptions include the first week of 2023, which featured a noticeable week-over-week increase in Amazon sales compared to Walmart’s relatively stable results. Additionally, the weeks leading up to the Easter holiday in late March and early April witnessed marked shifts in sales dynamics, with Walmart seeing sales increase week over week, while Amazon’s U.S. consumer sales remained relatively unchanged.

The surge in Walmart+ membership sales ahead of Walmart+ Week last year can be attributed to several factors, including promotional pricing incentives and exclusive early access to the retailer’s sales events. In particular, the temporary reduction in the annual membership fee and the offer of early access to the July sale likely contributed to increased consumer interest and increased membership sign-ups.