Walmart launches $120 membership bundle with Sam's Club ahead of holidays

Oct 20 (Reuters) - Walmart WMT.O on Tuesday launched a $120-a-year bundle combining its Walmart+ and Sam's Club Plus memberships, offering shoppers a discount of nearly $100 versus buying the subscriptions separately ahead of the holiday season.

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Here are some details:

• The retail giant heads into the holiday shopping season amid weak consumer spending, particularly among lower- and middle-income households

• Walmart, along with rivals Target TGT.N and Kroger KR.N, has lowered prices on thousands of items this year to attract budget-conscious shoppers

• Walmart reported its slowest quarterly comparable sales growth in six years in August, with average spend per visit also softening from a year ago

• The retailer is also relying on its advertising platforms to support profits and help maintain margins

• Membership-only retail chains such as Costco COST.O and discount grocery chains such as Aldi have seen stronger traffic in the US as shoppers look for convenience and value