Walmart announced on Monday that it would be slashing the cost for a subscription to its Walmart Plus membership service by 50% ahead of the holidays.
The deal is only available for a short time.
The retail giant may be trying to close the subscription disparity with its rival, Amazon's Prime service, Reuters reported. Amazon has six times more subscribers than Walmart.
Retailers in the U.S. have implemented various sales strategies to attract more shoppers. Walmart, for instance, has added more deals to attract customers who are also coping with inflation. It has also launched a number of sales events.
According to the National Retail Federation, retail sales in the U.S. will grow up to 3.5% this holiday season. However, it will be the "slowest" in six years due to consumers holding on to their funds and being frugal when it comes to spending.
Walmart cut the annual price for its Walmart Plus plan from $98 to $49 until Dec. 2.
Consumer Intelligence Research Partners noted that in the U.S., Amazon Prime has about 180 million subscribers. U.S. News reported that Walmart, citing eMarketer, is estimated to reach around 32 million subscribers by the end of the year.
Each membership service offers its customers with a range of benefits.
Subscribers of Walmart Plus will enjoy express, same-day and next-day deliveries. They will also gain a free Paramount+ subscription, as well as a discount of 10 cents per gallon of gas.
Recently, Walmart also launched a prescription delivery service, allowing customers to secure their groceries and prescriptions in a single order.
They also partnered with Burger King for a meal deal.
Subscribers of Amazon Prime get to enjoy an annual Grubhub+ delivery subscription, and free access to Amazon Prime Video and Amazon Music. They also have access to early and exclusive deals on Prime Day.
