Amazon, Walmart, or Target: Which Paid Membership Offers the Best Value for Your Money?
As Target prepares to launch its paid membership program April 7, 2024, you might be wondering if it’s worth it to invest in the program. How does Target Circle 360 stack up against Walmart+ and Amazon Prime?
About Target Circle 360
Target Circle 360 expands upon the retailer’s Circle rewards program with features like free same-day delivery on orders over $35, free two-day shipping on many items, and a more generous return policy. You can return items for an additional 30 days beyond Target’s standard policy. Target Circle 360’s same-day delivery also applies to more than 100 retail partners through Shipt.
A Target Circle 360 membership costs $99 for the year, but if you sign up before May 18, 2024, you’ll save $50, bringing the cost for the first year down to $49. This price point puts Target ahead of Amazon Prime or Walmart+ in terms of cost.
The Target website also promises personalized deals and bonuses, along with free trials. If you apply for and receive a Target Circle RedCard debit or credit card, you unlock another 5% in savings in-store and at Target.com. Target RedCard holders also receive many of the same perks, including free 2-day shipping and an extended return period, as Circle 360 members.
Target still offers its free loyalty program, Target Circle, as well.
About Walmart+
Walmart+ provides perks for shoppers at a price of $12.95 per month — or $98 for the year if you pay up front. Right now, shoppers can enjoy one month of the service free to try it out. Walmart+ provides free shipping, as early as the next day, with no minimum order. It also provides free same-day delivery on many items, with a minimum order of $35. Normally, same-day delivery costs $7.95.
Walmart+ members also save 10 cents per gallon on fuel at more than 14,000 locations, or receive Sam’s Club member pricing when you fill up at a Sam’s Club gas station. Walmart+ also offers free access to Paramount+ Essential streaming service, a $6 per month (or $60 per year) value.
Walmart+ also offers other perks to members, which may change frequently. For instance, right now members can get 25% off tax help with TurboTax Live Assisted, one free week at Orangetheory Fitness, and a 6-month free trial of Monarch Money.
What Does Amazon Prime Offer?
Amazon launched the membership trend with Amazon Prime, offering free shipping to members, free streaming on Prime Video, and exclusive deals — including access to special pricing on Amazon Prime Day and the Prime Early Access Sale, typically held each year in July and October.
Amazon Prime membership costs $15 per month, but you can save more than $40 by paying upfront annually at a cost of $139. Amazon also lets you add household members to your account to share Prime Video content, books, and photo storage. You can add up to one adult. However, if the second adult is going to take advantage of free shipping, they will need their own Prime account.
You can also add teens or children to your account. Teens gain access to Prime shipping benefits, early deals, Prime gaming, photo storage, and more. The adult Prime member can set permissions so teens can shop with a specific card, without sharing the card information with the teen. The adult can set pre-approved spending limits and shipping addresses and can also approve any purchase via text. Children 12 and under can gain access to Prime Video with parental controls, but cannot make purchases through the Prime account.
Amazon, Walmart, Target: Which Is the Better Value?
Although it has the highest price, Amazon continues to provide the most value, with free shipping, Prime Video, and shareable accounts for your entire household. Walmart+ has added more perks to its membership to make it more enticing. Walmart.com estimated that the average member can save more than $1,300 per year, which is more than a 10X return on your investment in the program. Paramount+ Essential is a cost-saving benefit that puts Walmart+ in closer competition with Amazon Prime.
As the new kid on the block, Target Circle 360 may have to ramp up its offerings to compete. However, at just $49 for the first year, it’s probably worth giving the new service a try. Admittedly, Target hasn’t revealed what additional perks or deals might be available to Circle 360 members. The free shipping benefit, alone, probably covers the cost for your first year of membership.
Ultimately, the best program for you depends on where you shop most frequently.
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This article originally appeared on GOBankingRates.com: Amazon, Walmart, or Target: Which Paid Membership Offers the Best Value for Your Money?
