On Wednesday, Walmart Inc. said that it was offering additional discounts on fuel to its subscribers. The option would be available for new and existing customers of Walmart+. The subscription service, launched about 18 months ago, offers a lot of discounts on various merchandise as well as exclusive offers or early offers on much sought after items including new launches of popular products. Walmart+ customers will now get 10 cents to a gallon for gas and the discounts will be available at 14,000 gas stations.
In a blog post, Chris Cracchiolo, the senior vice president and general manager at Walmart+, wrote that almost all Walmart customers (91 percent) were aware of the rising gas prices and almost half of them had “changed their behaviors because of those increased costs.”
He added that Walmart wanted to help their customers save both time and money throughout the day and not only when they shopped at the big box retailer. He said that the company was “excited to find new ways to deliver for them.”
Cracchiolo also said that Walmart+ members spend more as well shop more frequently when compared to the retailer’s regular customers. He also said that they were more loyal. He added that the subscription program Walmart+ had developed “trust” among its subscribers and that they saw “value in the program,” according to a report by CNBC.
Earlier, during a company’s earnings call in Q4, Doug McMillon, the CEO of Walmart said that periods of inflation made customers across all income levels extremely sensitive about price rise. This was an advantage for the company as it positions itself as “a value oriented mass merchant.”
Walmart+ costs $98 each year. It can also be availed as a monthly subscription of $12.95 per month. Benefits include free shipping of purchases that are bought online and free home deliveries of groceries worth $35 or more. Other perks include discounts on prescriptions and more such as early and exclusive access to debuts of items such as gaming consoles, a members only sale and more.
(Photo/Credit: Lonnie H. Chambers Jr)