Walmart confirms it will launch a rival to Amazon’s Prime

NEW YORK (AP) — Walmart is confirming that it’s developing a competitor to Amazon’s juggernaut Prime membership programme.

The company declined on Thursday to offer details, but a spokeswoman said it will be called Walmart+.

News website Vox first reported the news about Walmart’s new membership programme earlier on Thursday and said the discounter would have certain perks that the online leader couldn’t offer. Vox said that the Bentonville, Arkansas retailer will be publicly testing the programme as soon as March.

The initiative comes as Walmart is locked in an arms race with Amazon to bring packages faster to customers’ homes. Amazon’s Prime USD119 per-year membership programme includes perks such as unlimited next-day shipping on more than 10 million items as well as free streaming of music, TV shows and movies.

The logo for Walmart appears above a trading post on the floor of the New York Stock Exchange. PHOTO: AP