The launch of Walmart+ has proved beyond a shadow of a doubt that customers will pay a premium for exclusive, members-only perks.
In one recent survey of U.S. consumers, 1 in 10 respondents were already members of Walmart+ — an astounding feat, considering the service had only been around for two weeks when the survey occurred. Coupled with the finding that 45% of these new members were also paying Amazon Prime members, this data reveals a big opportunity for retailers:
Customers are making room for more premium loyalty programs, so it’s time to take advantage of the new membership economy.
In this recent Retail Customer Experience article, our CEO Tom Caporaso breaks down some ways retailers can apply similar strategies as Prime to their own premium loyalty programs. He also highlights data from our 2020 Premium Loyalty Data Study which surveyed more than 2,500 consumers.