Amazon Prime and Walmart+ Shoppers Double Up on Subscriptions

Savvy consumers are embracing the dual subscription model, leveraging memberships with both Amazon Prime and Walmart+ to unlock cost savings through free and fast shipping, exclusive discounts and access to added services. The prevalence of households subscribing to both major retailers has nearly doubled since 2021, indicating a strategic shift toward maximizing benefits and ensuring access to the best deals across these dominant platforms. This trend underscores a consumer desire to compare prices, capitalize on diverse perks and ultimately win by using both virtual shopping carts. The data here is taken from the “How People Pay” report from PYMNTS Intelligence released earlier this year.

• Seven Key Findings
• Conclusion
• Methodology

Seven Key Findings

Dual Subscription Surge

The share of consumers subscribing to both Amazon Prime and Walmart+ has almost doubled since 2021, showing a significant trend in consumer behavior. Dual subscriptions were held by nearly 1 in 4 consumers in February 2025, up from 12% four years earlier.

Millennial Subscription Engagement

80% of millennials have a subscription to either Amazon Prime, Walmart+ or both, indicating a high affinity for retail perks among this generation. Notably, 37% of millennials hold both subscriptions.

Walmart’s Crossover Retail Advantage

While 11% of Amazon Prime-only members shopped at Walmart for their last retail purchase, none of the Walmart+-only subscribers reciprocated. This highlights Walmart’s success in attracting Amazon’s exclusive subscriber base for retail needs.

Grocery Dominance of Walmart

A tiny fraction of all consumers made their last grocery purchase at Amazon, with Walmart winning crossover shoppers for groceries, its core category. The share of consumers who last bought groceries from Amazon is very small, at 1.3%.

Higher Spending by Dual Subscribers

The average dual subscriber spent more than $100 on their last retail purchase compared to those with only one or no subscription. The average purchase value was $109.90.

Payment Preferences Reflect Priorities

Dual subscribers tend to use credit cards for their Amazon purchases and debit cards for their Walmart buys, the latter suggesting a prioritization of convenience and spend tracking over rewards.

Amazon Prime for More Than Just Retail

Only a small fraction (0.7%) of Amazon Prime-only subscribers made their last grocery purchase at Amazon, and only 13% made their last retail purchase there, suggesting that many subscribe for other benefits, such as streaming.

Conclusion

The significant rise in dual Amazon Prime and Walmart+ subscriptions underscores a consumer strategy focused on maximizing value and access across two major retail ecosystems. These “winning both carts” consumers, particularly millennials, actively seek out perks, comparing prices and strategically choosing where they shop for different needs. Walmart is demonstrating strength in attracting even Amazon’s loyal subscribers for retail and dominates the grocery segment. Payment method choices further highlight the distinct roles these retailers play in the minds of dual subscribers, with Amazon favored for credit card usage and Walmart for debit cards. These findings suggest a complex and evolving retail landscape in which subscription services are increasingly a part of shifting habits in consumer spending.

Methodology

This report draws upon a proprietary data analysis of consumer payment behaviors and subscription habits in the United States. The findings are based on tracking consumer behavior across various demographics and subscription statuses over time, as indicated by the trend data from December 2021 through February 2025. The latest data collection occurred between February 10, 2025, and February 28, 2025. The analysis focuses on identifying key trends in subscription adoption, cross-shopping behavior, spending patterns, payment method preferences and categories of goods purchased at both Amazon and Walmart. The report segments consumers based on their subscription status (Amazon Prime only, Walmart+ only, both or neither) and other demographic factors such as generation, income and financial lifestyle.