Walmart Inc (NYSE:WMT) stock is trading higher Thursday as it slashed the price of Walmart+ Assist for those on government assistance.
Walmart+ membership helps members save time and money, with benefits like free shipping and grocery delivery, nationwide gas discounts, and video streaming with Paramount+ at no extra cost.
Now Walmart+ Assist will be available for customers on government assistance with 50% off a monthly or annual Walmart+ paid membership plan.
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Starting July 20, customers eligible for qualifying government aid can pay $49 a year or $6.47 monthly for Walmart+.
At $98 a year, Walmart+ is cheaper by $41 than Amazon.Com Inc (NASDAQ:AMZN) Prime with similar perks, like shipping discounts and video streaming. Walmart’s subscription service also includes benefits, including discounted fuel at gas stations around the U.S.
Walmart’s move could help capture and retain the swath of shoppers who may quicker skip or cancel services with recurring fees or turn to another retailer like a dollar store.
On Walmart’s most recent earnings call in May, CEO Doug McMillon highlighted how inflation affected the consumers, CNBC reports.
Amazon has a similar discounted fee for low-income households that qualify for government assistance at $6.99 monthly.
Price Action: WMT shares traded higher by 1.42% at $156.28 on the last check Thursday.
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