Why Consumers Want Both an Amazon Prime and Walmart+ Membership

In an era where retailers fiercely compete for consumer loyalty, a notable phenomenon is reshaping the landscape: the rise of the dual subscriber, holding memberships to both Amazon Prime and Walmart+.

Far from being an either-or decision, a significant segment of the U.S. population, particularly millennials, is choosing to “win both carts” by leveraging the distinct advantages offered by these retail giants.

This shift reflects evolving consumer priorities and spending patterns that payments executives must understand to navigate the future of retail and commerce, as PYMNTS Intelligence detailed in the report “Winning Both Carts: Millennials Drive Surge in Having Amazon Prime & Walmart+ Subscriptions.” The surge in dual subscriptions has been notable, as the survey of more than 2,000 consumers revealed, nearly doubling since 2021. The growth signifies a move toward multi-platform loyalty over exclusivity, driven by a desire to maximize perks and value in a post-pandemic economy marked by sticky inflation.

Looking to Save Money

The primary motivations behind subscribing to both Amazon Prime and Walmart+ are saving money and gaining access to exclusive perks and added services.

These memberships offer lifestyle conveniences like free shipping and discretionary indulgences such as streaming access to movies and television shows.

Consumers are increasingly choosing the best offerings from each retailer to meet their specific needs, rather than committing themselves to just one. This strategic approach allows them to compare prices and find the best deals, underscoring the perceived value of combined benefits, even among households facing tight budgets.

Different Uses Across Different Platforms

A key insight from recent analysis is the clear division in how dual subscribers utilize each platform. Walmart overwhelmingly dominates grocery buying, consistently being the default choice for food and beverages across all income groups and demographics. Nearly 3 in 10 U.S. consumers made their most recent grocery purchase at Walmart, compared to a mere 1.3% at Amazon. Even among Amazon Prime members, grocery purchases through Amazon are limited, with only 0.7% reporting their last grocery trip was there. Among dual subscribers, 44% last shopped for groceries at Walmart, versus just 4.1% through Amazon.

Conversely, Amazon retains its stronghold in online discretionary retail. Dual subscribers, along with Prime-only members, continue to turn to Amazon for nonessential, higher-ticket items, reinforcing this divide. This pattern holds true across different income levels and generations. For dual subscribers, Walmart+ appears to function more as a complement to Amazon Prime rather than a direct substitute.

Perhaps the most compelling finding for payments executives is that subscribers to both Amazon Prime and Walmart+ consistently outspend other consumer segments on retail purchases at Amazon. Dual subscribers averaged $110 per transaction on Amazon, significantly higher than Prime-only members ($78), Walmart+-only members ($75), and those with neither subscription ($58). This higher spending by dual subscribers persists year-round but spikes during major retail seasons like spring sales (March), back-to-school shopping (September), and the holidays (December), indicating a higher responsiveness to promotional cycles.

Millennials are at the forefront of this trend, leading all generations in subscription adoption. A significant 37% of millennials hold both memberships, making them a critical audience driving much of the increased spending observed among dual subscribers.

These consumers are not simply choosing sides but are leveraging the distinct strengths of Amazon (discretionary retail) and Walmart (grocery) to optimize their shopping habits and budgets.