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By Vanessa Hung · October 7, 2025 · Curated by George's Blog
37% of millennials now pay for both Amazon Prime and Walmart+
Could it be that now it's no longer so much a thing of competing to grab all the customers, but rather of becoming an option to consider when they choose the options that best suit them?
For years, analysts framed the memberships as rivals, a battle for consumer loyalty. The data suggests otherwise.
According to PYMNTS Intelligence, the share of U.S. consumers holding both subscriptions nearly doubled between 2021 and early 2025. What looks like overlap is actually intention. Shoppers are stacking memberships to cope with rising prices, supply chain issues, and changing household needs.
This isn’t subscription fatigue. It’s retail diversification.
Here is what is changing:
• Millennials are the power subscribers. 8 in 10 hold at least one retail membership, and 37% now pay for both.
• Walmart dominates groceries. Among dual subscribers, 44% said their most recent grocery trip was at Walmart compared with just 4% for Amazon.
• Prime still drives discretionary spend. Streaming, electronics, and fast shipping remain its anchor.
• Dual subscribers are the highest-value customers. They average $110 per transaction versus $78 for Prime-only and $75 for Walmart+-only.
The bigger change is how loyalty works. Consumers aren’t committing to one platform anymore. They’re combining them, treating memberships as everyday essentials. One month it’s Walmart for gas and groceries, the next it’s Amazon for streaming and fast shipping.
What this means depends on your role:
• For retailers: the idea of a one-stop shop is eroding. The winners will be those willing to complement, not just compete.
• For brand operators: pricing, placement, and promotions must assume households shop across ecosystems, not inside one.
• For strategists: the dual-subscriber cohort is where the margin lives. They are flexible, higher-spending, and sensitive to value signals in both directions.
The bottom line: Prime and Walmart+ are not cannibalizing each other. They are coexisting in the same cart.
#Ecommerce #RetailStrategy #Amazon #Walmart