- Walmart is offering a new membership bundle that combines Walmart Plus and Sam's Club Plus.
- The new combo includes both memberships for less than the price of a Costco Executive membership.
- A key feature of each membership is their increasingly fast delivery services.
Walmart rolled out a perk for its Plus membership programs, taking a shot at rivals Amazon and Costco.
The retail giant said Tuesday that it is offering a membership bundle that includes Walmart Plus and Sam's Club Plus for $120 per year.
That means existing Sam's Club Plus members now effectively get Walmart Plus included, and Walmart Plus members can add the premium-level club membership for an additional $22.
CEO John Furner took a not-so-subtle jab at Amazon and Costco in a statement announcing the news.
"Consider what people may be paying today: $139 for a retail membership with delivery. $130 for a warehouse club," he said, referring to their respective fees.
Walmart has been taking sharp aim at both retail competitors, with membership perks that overlap in several areas, like streaming entertainment, pharmacy services, and deals from partner businesses.
The biggest perk for Plus members — whether at Walmart or Sam's Club — is an increasingly fast delivery operation that fulfills orders from stores and clubs in as little as 30 minutes. Some orders have arrived in fewer than 10 minutes.
"The bundled offering screens as another signal of WMT pushing more value into its overall ecosystem, and highlighting its rapid delivery capabilities," Mizuho analyst David Bellinger said in a note.
Walmart doesn't disclose membership counts or fee revenue, but Mizuho estimates the chains have about 25 million Walmart Plus members and 30 million Sam's Club members. The bank also estimates an overlap of about 10% between Walmart and Sam's Club members.
Globally, Costco reported more than 150 million membership cardholders, and Amazon is estimated to have more than 220 million Prime members.