Walmart’s membership program is growing, reaching younger and more affluent customers. Deutsche Bank estimates that the program has successfully attracted about 32 million members. Walmart itself is tight-lipped on the subject. According to CEO Doug McMillon, the retailer’s focus is on improving Walmart+, adding perks and improving services, rather than on adding as many members as possible. McMillon said that the retailer doesn’t want to scale too quickly and let down its customers by promising more than it can consistently deliver.
“The worst thing we could do is to really aggressively market this, get a bunch of members that are disappointed because they can’t get a slot or they don’t get the right in-stock level or some other problem happens,” he said.