Walmart has introduced a new joint membership that combines its Walmart+ service with Sam’s Club Plus for an annual fee of $120. This bundled membership offers customers access to both retailers’ benefits at nearly $100 less than purchasing each membership separately, although it is available only as an annual plan without a monthly payment option. Walmart and Sam’s Club will still maintain their existing standalone membership offerings, allowing customers to choose the option that best fits their needs.

The joint membership provides various perks including access to Sam’s Club warehouse locations, free delivery from both Walmart and Sam’s Club, subscriptions to streaming services like Peacock or Paramount+, discounts on gasoline, and 2% cash back on eligible purchases at Sam’s Club. Existing customers with memberships at both stores can link their accounts to take advantage of the new pricing. Walmart envisions this combined membership as a way to offer greater value and convenience, enabling shoppers to save both time and money.

This move aligns with Walmart’s broader strategy to emphasize value amid economic pressures from higher food and fuel costs. The company reported strong performance in its membership business during its fiscal second quarter, with Walmart+ adding members at record rates and overall membership revenue increasing 17% globally. Sam’s Club also experienced significant growth in e-commerce sales and membership revenues, benefiting from its mix of bulk goods and fuel services.

Walmart CEO John Furner highlighted the aim of raising customer expectations for membership benefits, while the company also announced that employees at both Walmart and Sam’s Club will receive joint memberships as part of their benefits package. Walmart expects the changes in its membership program to have minimal impact on its fiscal third-quarter and full-year financial guidance, underscoring confidence in this strategy to drive sales and enhance customer loyalty amid ongoing economic uncertainties.