Walmart+ Membership Growth Hits New High According to Morgan Stanley Survey
According to a September consumer survey by Morgan Stanley, Walmart's subscription service, Walmart+, has reached a new membership high. The report estimates that approximately 25% of respondents are members, translating into around 33.2 million U.S. households—up from an estimated 31.6 million in August. The growth suggests increasing adoption and engagement with the retail giant's loyalty program. However, Morgan Stanley notes potential overstatement by survey participants, leading to adjusted figures for accuracy. The rise in membership is seen as a key component of Walmart’s broader strategy to drive customer retention and enhance its competitive position against rivals like Amazon Prime. The expansion of Walmart+ reflects progress on the company's flywheel model—where increased memberships can lead to higher sales and greater data insights, further strengthening its market presence.
Topics: consumer survey Morgan Stanley Walmart+