As Walmart looks to continue to lean into its grocery offerings and its core mission of helping people live better and save money, the big box retailer is also looking to leverage its membership program, Walmart+ to keep customers coming back. In its latest membership perks offering, the retailer gave Walmart+ members exclusive early access to a new limited-edition Oreo flavor called the Blackout Cake cookie.
Walmart Merchandising Director Kyle Lanham revealed the new perk on LinkedIn, noting it was made possible thanks to the partnership between Walmart and Mondelez International, owner of the Oreo brand.
According to Oreo, the new cookie features layers of chocolate cake and dark chocolate cake-flavored cream sandwiched between two classic chocolate wafers.
Over the years, Walmart has expanded its reach with numerous locations, services, and digital ventures across multiple countries, including delivery, financial, and advertising businesses. However, these endeavors have always been part of a larger strategy to entice customers into the physical store and encourage them to purchase more items than originally intended. Despite its digital forays, Walmart remains a retailer focused primarily on its physical stores, and there are no foreseeable plans to significantly alter this aspect of the business.
Three months ago, during his Q3 discussion with analysts, Walmart CEO Doug McMillon spoke about the success of the company’s value proposition, as depicted in the “Building our Flywheel” slide. According to McMillon, this proposition has resonated with customers and members globally, particularly in key markets such as the U.S. and Mexico, where the grocery business has seen an increase in both in-store and online shopping. McMillon noted that higher-income customers who previously shopped less frequently at Walmart are now doing so more often.
See also: As Amazon Ramps Grocery Plans, Walmart Leverages Flywheel and Stores
That said, by offering exclusive benefits to its members, Walmart is creating a sense of value and loyalty that can encourage customers to shop more frequently and spend more money. The early access to the new Oreo flavor is just one example of this approach, which also includes perks like free delivery and discounts on fuel purchases.
By leveraging the popularity of a well-known brand like Oreo, Walmart is also tapping into the power of product exclusivity. This strategy can create a buzz around the product and generate interest from customers who might not otherwise have paid attention. As a result, Walmart can draw more shoppers to its stores, both online and in-person, which can further boost sales and increase the company’s bottom line.
Walmart’s new perk for Walmart+ members aligns with the company’s flywheel strategy. By offering exclusive benefits and leveraging the popularity of well-known brands, Walmart can increase customer loyalty and draw more shoppers to its stores, which can ultimately drive growth and success for the company.
This is just the latest in a series of perks Walmart has offered its Walmart+ members to stand out from the crowd, including early Black Friday shopping deals and special deals on streaming service Paramount+, free delivery for online orders, and discounts at participating gas stations. Walmart+ was originally introduced in 2020 as a reaction to Amazon Prime.
Read more: Walmart Partners With Paramount+ as It Enters Streaming Business
In a crowded market of brands and retailers offering membership programs, standing out can be a challenge. To attract more subscribers, brands and retailers must offer distinctive and engaging benefits that genuinely improve the customer experience. These benefits could include access to exclusive products or services, personalized recommendations, and seamless integration with other platforms and services.
Moreover, effective communication of the program’s value is also crucial for successful subscription acquisition. Brands and retailers need to clearly and concisely highlight the program’s benefits and features, while showcasing how the program aligns with their brand’s values and mission. This way, potential subscribers can understand the program’s worth and perceive it as an attractive investment.
Here’s what some big players are doing with their membership programs:
Amazon Prime: Amazon Prime is one of the most successful membership programs out there. In addition to free shipping, Prime members get access to exclusive deals, streaming of movies and TV shows, unlimited photo storage and more.
Sephora Beauty Insider: Sephora’s loyalty program, Beauty Insider, rewards members with points for every dollar spent, which can be redeemed for products or exclusive experiences. Higher-tier members also get access to free shipping, early access to new products and exclusive events.
Costco Membership: Costco’s membership program offers access to the company’s warehouse stores, as well as discounts on everything from groceries to travel. Members also get access to exclusive deals and discounts on services like car rentals and insurance.
Target Circle: Target’s loyalty program, Target Circle, offers members access to exclusive deals and discounts, as well as 1% cashback on purchases. Members also get access to free shipping and early access to sales.
Nike Membership: Nike’s membership program offers members access to exclusive products and early access to new releases. Members also get free shipping, 30-day wear tests as well as other perks.
While Walmart has not revealed the exact number of Walmart+ members, research group Consumer Intelligence Research Partners estimates that as of July 2022, the platform had around 11 million subscribers. This figure stands in stark contrast to the estimated 168 million Amazon Prime members as of the close of 2022.
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