Shoppers at the Walmart Supercenter in Burbank during Walmart’s multi-week Annual Deals Shopping Event in Burbank Thursday, Nov. 21, 2024.
Allen J. Schaben | Los Angeles Times | Getty Images
As tariffs roil the U.S. economy, Walmart may find safety in a new part of its business that’s driving more store traffic and online sales: Its membership program, Walmart+.
Customers who belong to the subscription-based service accounted for nearly 50% of spending across Walmart’s website and app in the U.S. in the most recent full fiscal year, which ended in late January, the company told CNBC. On average, Walmart+ members shop twice as much and spend nearly three times as much as Walmart customers who aren’t subscribers.
The membership program’s gains come at a helpful time for Walmart. The big-box retailer disappointed Wall Street with its outlook for the year ahead even before President Donald Trump announced tariffs on goods from around the…
