The retailer's popularity is at an all-time high.
Higher price, higher quality?that the price increase isn't coming out of the blue. In recent years, Sam's Club has invested heavily in bringing higher quality products to its shelves and improving the entire shopping experience.
The retailer has added curb-side pick-up options at many locations as well as same-day home delivery. It even launched its own smartphone app that allows shoppers to ring up items as they browse the store. Anfield used an analogy of investing in a home to increase its value."There's an expectation that after you invest in this home, it will be worth more," she said."We've made investments and we believe our proposition, our membership is now worth more."
This philosophy seems to be working for the company. While Sam's Club doesn't disclose its membership count, it did reveal that the number is at an all-time high, with membership income increasing by almost 9% in the most recent quarter.Of course, Sam's Club is well aware that most members won't exactly be thrilled about the price hike. To ease the transition, Sam's Club will cover the cost of the increased fees for renewing members with Sam's Cash.
In a message sent Wednesday afternoon, Sam's Club CEO and president Kath McLay told members:"We are mindful of the financial pressure on wallets right now. So, this year's renewal is on us. We're giving back $5 in Sam's Cash to Club members and $10 in Sam's Cash to Plus members shortly after renewal."
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