Walmart+ Slows After Fast Start; Members Shopping More Frequently: CIRP
Walmart+, the retailer’s answer to Amazon Prime, “grew quickly” after launching in September 2020 but “slowed considerably since then,” said Consumer Intelligence Research Partners Thursday. Walmart+ emphasized grocery as the leading shopping category, which boosts average transaction size and visits…
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to Walmart.com, reflecting higher shopping frequency for groceries than other departments, it said. Customer growth slowed through 2021 as COVID-19 shutdowns relaxed and Walmart.com shoppers returned to in-store shopping, it said. Walmart+ members spend somewhat more per visit and visit Walmart.com “significantly more frequently” vs. all Walmart.com customers, it said. In the October quarter, the average Walmart.com customer spent $55 per visit vs. $68 per visit for Walmart+ members. Spending levels were largely unchanged in the 12 months since the membership program launched. Also in the October quarter, Walmart.com customers reported shopping an average 21 times per year online; customers with a Walmart+ membership shopped an average 32 times per year, it said. CIRP estimates Walmart+ accounts for a quarter of the retailer's e-commerce customers in the U.S., some 10 million members. Walmart didn't comment.