Add Sam’s Club membership to your list of subscriptions that are getting more expensive.
The Warehouse Club, owned by Walmart, announced Wednesday that it is raising its annual membership fee by 11% — from $45 to $50 — starting in October. It’s the first fee change in nine years.
The cost of the Premium membership plan will also increase from $100 to $110 for the first time since the plan was introduced in 1999.
Sam’s Club said it will offer $5 rewards to shoppers with a basic membership and $10 to premium customers as a feature to renew after the price hike goes into effect.
A regular membership in rival Costco, the largest warehouse club, costs $60. Costco typically raises the membership price about every five years. Its last rise was in 2017.
Warehouse clubs have gained market share during Covid. More consumers were buying online during the lockdown as fear of contracting the virus kept many shoppers away from the crowds.
Sam’s Club and BJ’s have added same-day roadside pickup for customers who have purchased online. Club stores gained 0.5% of its market share in 2020 and 0.5% in 2021, adding up to about $16 billion, according to IRI data. They also have the fastest growth in sales in 2021 compared to 2020 among all retail channels.
.
[ad_2]
