Walmart is taking aim at Amazon Prime Day with a shopping holiday of its own.
The big-box retailer on Wednesday announced Walmart+ Weekend, a three-day discount-driven event for members of the company’s paid loyalty program. From June 2-5, members who shop online will have access to exclusive deals on products in home, electronics and fashion. Consumers who sign up for Walmart+ in store before the event will receive a $20 credit toward their next e-commerce purchase, the company said. Membership, which includes free shipping and access to promotions throughout the year, costs $12.95 per month or $98 per year.
Deutsche Bank reportedly pegged Walmart’s loyalty members at 32 million U.S. households as of September, a year after it launched. By contrast, Amazon Prime members totaled 200 million worldwide as of last year, with its most recent shopping bonanza pulling in a cool $11 billion (even if growth sputtered).
Walmart said some of the deals include a women’s lightweight T-shirts from Champion, men’s board shorts from Burnside, a Michael Kors tote, and Levi’s children’s clothing that will be discounted up to 50 percent. A queen upholstered bed by Anchorage and a sofa by Larissa will be marked down by more than 20 percent. Shipping is free on all items, including oversized pieces.
Walmart tapped comics including Jim Gaffigan, Ken Jeong, Franco Escamilla and Iliza Schlesinger to share their favorite deals. A series of “what’s the deal” videos featured on the retailer’s social channels will showcase some of the weekend’s promoted products.
“Our Walmart+ members loved early access to our Black Friday events, so we were inspired to create an entire weekend dedicated to the best deals,” Chris Cracchiolo, Walmart’s senior vice president and general manager, said of the inspiration for new shopping holiday. “Giving members more of what they want with exclusive, unprecedented Black Friday-like savings allows us to celebrate our members in a fun, new way.”
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The news comes on the heels of Amazon’s announcement earlier this month that its Prime Day shopping event will take place in July after it briefly shifted to June amid pandemic-driven supply chain disruption.
Both Amazon and Walmart’s recent earnings disappointed. On Tuesday, Walmart announced a surprising profit loss that caused it to adjust down its full-year guidance. CEO Doug McMillan said the retailer reduced prices on thousands of apparel products in response to record inflation that drove up food prices and pulled spending away from discretionary categories.
Meanwhile, Amazon last month reported a $3.8 billion net loss stemming from rising costs for transportation and labor. The company is “squarely focused on improving productivity and cost efficiencies,” CEO Andy Jassy said, noting that inflation and supply chain issues are likely to continue to impact operations.
Additional reporting by Jessica Binns.