Walmart Bundles Walmart+ and Sam’s Club Plus for $120 a Year

Walmart is combining Walmart+ and Sam’s Club Plus in a $120 annual membership, nearly $100 less than buying the two subscriptions separately. The offer began October 20 and gives customers access to delivery, warehouse shopping, fuel discounts, streaming and eligible Sam’s Cash rewards.

The package is more than a holiday promotion. Walmart is linking its mass-market stores and delivery network with Sam’s Club’s bulk-shopping model, giving households a reason to keep more spending inside one retail ecosystem. Existing Walmart+ members can add the bundle for $22 more per year, while existing Sam’s Club Plus members receive Walmart+ without an additional annual fee.

The economics depend on behavior, not the advertised discount alone. A member who uses delivery, shops at Sam’s Club and buys fuel can capture meaningful value. A customer who rarely uses one half of the package may still be better served by a standalone plan. Walmart will continue to sell those separate options.

The bundle also sharpens competition with Amazon Prime and Costco, but the services are not identical. Amazon emphasizes a broad online marketplace and fast shipping. Costco’s model centers on warehouse purchasing and private-label value. Walmart is using more than 4,600 U.S. stores and over 600 Sam’s Club locations to combine local delivery with club access.

Membership already supports Walmart’s higher-margin businesses. The company reported a 17% increase in global membership revenue in its fiscal second quarter, with record second-quarter net additions for Walmart+. Sam’s Club membership revenue grew 6%, while its e-commerce sales increased 26%.

Management said the program’s costs are not expected to materially affect fiscal third-quarter or full-year guidance. That limits the near-term earnings risk, but it does not prove the bundle will be accretive.

Investors should watch net membership additions, renewal rates, overlap between the two services and incremental spending per member. The strategic case is stronger loyalty and more frequent use of Walmart’s delivery network. The financial case will depend on whether that extra activity exceeds the cost of benefits and the discount embedded in the $120 price.