Core Insights - Walmart's paid membership program, Walmart+, experienced double-digit growth, reaching 28.4 million members by the end of January, according to a Morgan Stanley survey [1][2] - Year-over-year growth for Walmart+ membership was approximately 12% on a three-month rolling basis, an increase from 10% in November [2] - Walmart's membership and other income in the U.S. grew by 7.6%, with Walmart+ fee income showing double-digit growth [4] Membership Benefits - Walmart+ membership costs $98 annually and offers various benefits including free deliveries on orders over $35, next-day and two-day shipping, streaming service options, gas savings, free pharmacy delivery, and a 5% cash-back credit card [3] - The program also features Scan & Go for expedited checkout using a mobile phone [3] Financial Performance - Walmart's CFO noted that the third quarter of fiscal 2026 was the best for Walmart+ in terms of net additions since its launch, attributing this success to faster delivery, improved accuracy, and the introduction of the OnePay credit card [5] - Globally, membership income rose by 17% [4] Consumer Trends - A report indicated that the number of consumers holding subscriptions for both Walmart+ and Amazon Prime nearly doubled from 2021 to early 2025, with 24% of consumers subscribing to Walmart+ by February 2025, and 37% among millennials [6][7] - Consumers are increasingly layering these services to mitigate higher prices and supply chain uncertainties, alternating between Walmart's and Amazon's offerings based on their needs [6]