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EMARKETER

Retail Memberships Forecast 2023

Can Walmart+ and Other New Entrants Compete for Subscription Revenues?

Report by Blake Droesch  |  May 8, 2023
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Table of Contents
Report Snapshot
Overview: Revenue growth has slowed despite the influx of new paid memberships.
Amazon’s subscription revenues dwarf other leading players', like Costco Wholesale and Sam’s Club.
Walmart+ revenues will continue to grow faster than established memberships.
Amazon Prime user growth has begun to plateau.
Costco’s user growth ebbs and flows but remains remarkably persistent over the long term.
Walmart+ had a meteoric rise but is a long way from competing with the major players.
Delivery services and QSR restaurants are also competing with retailers for subscription revenues.
How should retailers approach paid memberships?
Sources
Media Gallery
About This Report
Amazon, Costco Wholesale, and other retailers now face an uphill battle to win recurring revenues in the era of subscription fatigue.
Topics
Ecommerce Sales
United States
Table of Contents
Report Snapshot
Overview: Revenue growth has slowed despite the influx of new paid memberships.
Amazon’s subscription revenues dwarf other leading players', like Costco Wholesale and Sam’s Club.
Walmart+ revenues will continue to grow faster than established memberships.
Amazon Prime user growth has begun to plateau.
Costco’s user growth ebbs and flows but remains remarkably persistent over the long term.
Walmart+ had a meteoric rise but is a long way from competing with the major players.
Delivery services and QSR restaurants are also competing with retailers for subscription revenues.
How should retailers approach paid memberships?
Sources
Media Gallery

Report Snapshot

Paid memberships can strengthen customer loyalty and be a valuable source of recurring revenues. But the growth of retail membership fee revenues has slowed significantly, suggesting consumers might have hit their ceiling for these subscription services.

Key Question: Which retailers generate the most revenues through paid memberships?

US Paid Retail Membership Fee Revenues, by Company, 2023 (% of total)
E-Mail ChartDownload

KEY STAT: Amazon Prime will generate the largest share of subscription revenues in the US this year, at 53.1%, dwarfing established wholesale membership clubs and newer entrants like Walmart+.

Here’s what’s in the full report

1file

Exportable files for easy reading, analysis and sharing.

7charts

Reliable data in simple displays for presentations and quick decision making.

Table of Contents

  1. Report Snapshot
  2. Overview: Revenue growth has slowed despite the influx of new paid memberships.
  3. Amazon’s subscription revenues dwarf other leading players', like Costco Wholesale and Sam’s Club.
  4. Walmart+ revenues will continue to grow faster than established memberships.
  1. Amazon Prime user growth has begun to plateau.
  2. Costco’s user growth ebbs and flows but remains remarkably persistent over the long term.
  3. Walmart+ had a meteoric rise but is a long way from competing with the major players.
  4. Delivery services and QSR restaurants are also competing with retailers for subscription revenues.
  1. How should retailers approach paid memberships?
  2. Sources
  3. Media Gallery

Charts in This Report

US Paid Retail Membership Fee Revenues, by Company, 2023 (% of total)US Paid Retail Membership Fee Revenues, 2019-2024 (billions and % change)
US Paid Retail Membership Fee Revenue Growth, by Company, 2019-2024 (% change)US Amazon Prime Users, 2019-2024 (millions, % change, and % of population)
US Costco Wholesale Paid Members, 2019-2024 (millions, % change, and % of population)US Walmart+ Users, 2021-2024 (millions, % change, and % of population)
Which Retail Membership Services Do US Adults* Pay For? (% of respondents, by demographic, Feb 2023)

authors

Blake Droesch

Contributors

Whitney Birdsall
Senior Forecasting Analyst
Suzy Davidkhanian
Principal Analyst, Retail & Ecommerce
Andrew Lipsman
Principal Analyst, Retail & Ecommerce
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