Sep 13, 2019 - Economy

Walmart's new grocery subscription plan takes another swipe at Amazon

Dion Rabouin

A Walmart truck transporting goods — Photo: George Frey/Getty Images

Walmart is unveiling a grocery delivery subscription service this fall, AP reports.

Why it matters: The big box store is hoping to boost its constituency of time-starved shoppers looking for convenience, and attempting to move strongly into one of the fastest growing e-commerce sectors.

Walmart's stock gained nearly 1% on Thursday, having recently touched a record high, as investors have gotten more bullish on the largest U.S. retailer in recent weeks.
With more positive trade war headlines helping push the overall market higher, investors are game to buy Walmart's latest challenge to Amazon.

Details:

The service will charge an annual membership fee of $98 for subscribers to choose unlimited same-day delivery.
That price is $21 less than the cost of Amazon Prime.
The grocery services will be fulfilled by local stores and require a minimum order of $30. With same-day delivery, there’s a 4-hour minimum wait time between placing an order and having it delivered, AP reports.

Go deeper: Retailers are getting into the media and advertising businesses

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Walmart's new grocery subscription plan takes another swipe at Amazon

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