Retail

Walmart teases launch of membership program as e-commerce surges

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Customers shop at a Walmart store on May 19, 2020 in Chicago, Illinois.

Scott Olson | Getty Images

Walmart gave investors a few hints about its forthcoming membership program Tuesday, saying it will offer customers benefits like speedy deliveries and low prices.

For the past few months, investors and analysts have watched and waited for the launch of Walmart+. The big-box retailer confirmed in late February that it’s developing the subscription-based service. It’s expected to rival Amazon Prime with perks aimed at driving sales and loyalty.

Walmart CEO Doug McMillon acknowledged there’s “a lot of buzz” around the service and laid out a bit of the retailer’s strategy on a Tuesday earnings…



Source cnbc.com

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