Team England versus Italy in the European Championships. Joey Chestnut versus Takeru Kobayashi in hot-dog-eating contests. The U.S. versus the rest of the world in the great pineapple-on-pizza debate. These are just some of the more iconic competitions we’ve had the privilege of witnessing in recent years. Related: Walmart bringing back iconic brand that solves a major issueBut if you’re in the retail space, you’re probably a little more interested in Walmart (WMT) versus Amazon (AMZN) , which has proved to be a showdown for the ages. The two are in constant, relentless pursuit of each other. Amazon continues to make strides in quicker shipments via conventional roadways, and Walmart has been particularly vocal about its drone delivery capabilities, which it says is progressing each day.Both retailers want a bigger slice of market share and are willing to go to great lengths to get it. As of late 2023, Amazon had over 37% of online U.S. retail market share, while Walmart had more than 6%. On the brick-and-mortar side, Walmart easily takes the cake, dwarfing Amazon’s relatively minimal in-person presence. Amazon is firmly in the lead when it comes to e-commerce, but given Walmart’s more than 10,000 store locations, it has got ambitions to catch up — and fast.
An employee gathers online orders at a Walmart market fulfillment center in the back of a store in Grapevine, Texas.Bloomberg/Getty Images
Walmart and Amazon gain on each otherFor us onlookers (and consumers), the contest between Amazon and Walmart is a joy to watch. When Amazon pulls ahead in delivery speed and volume, Walmart beats it in terms of overall sales. It’s the beauty of the free market that enables competition to heighten and the consumer experience to improve.More Walmart:Walmart raises the price of a key serviceWalmart launches cheap brand customers will loveSome Walmarts make surprising self-checkout changePart of that battle means increased effort to capture and delight more new customers. Both giants offer a robust paid membership program, a sort of gold mine for retailers since it offers sticky and recurring revenue. Amazon Prime, which costs $139 per year, offers the following: Free shipping and returns, often two-day or next-day on eligible itemsAccess to Prime Video streamingSavings at Whole Foods MarketAccess to the Amazon Prime Rewards Visa Signature CardAccess to Amazon Fresh grocery storesTry Before You Buy shoppingAmazon Photos storageWalmart+, the answer to Amazon Prime, offers distinctly different (but competitive) perks: Cheaper, at $98 per yearFree store deliveryFree shipping and returns on eligible itemsFuel savings at Exxon, Mobil, Walmart and Murphy gas stationsIncluded Paramount+ streaming subscriptionLimited auto maintenance at Walmart Auto Care CentersCash back on select travel expensesMembers-only prices during select promotions, like Black FridayMobile shopping in-storeWalmart launches early Prime Day-type savingsPrime still has the lead over Walmart+. Some 200 million shoppers subscribe to Prime, while about 59 million have Walmart+. But that isn’t stopping Walmart from doing everything it can to gain more customers. Related: Kohl’s expands genius Amazon-style feature shoppers will loveThe retailer launched on Monday its early version of Amazon Prime Days, called Walmart+ week, which boasts an impressive list of savings and promotions to tempt customers into spending early. Some of those include: Double fuel discounts at Exxon and Mobil gas stationsUp to 20% back in Walmart Cash on flights, hotels, car rentals, and other activities booked via Walmart+ TravelFree Express Delivery in under two hours, which usually costs $10Three months free of Walmart+ InHome home delivery serviceMystery offer on June 20The savings event — the second of its kind since it started last year — began at noon Eastern on June 17 and runs through June 23. It’s been placed to run strategically ahead of Amazon Prime Days, which typically runs for two days in early July and promises to offer similar deep discounts and savings for members.Amazon has said it will soon announce when its 2024 Prime Days event will be held.Related: Veteran fund manager picks favorite stocks for 2024