What happened

Shares of Walmart (NYSE: WMT) climbed 6.3% on Tuesday after the retail giant said its new membership service, which is designed to challenge Amazon (NASDAQ: AMZN) Prime, will go live later this month.

So what

Walmart+, as the new service will be called, will combine online and in-store benefits, including free delivery, fuel discounts, and other features geared toward saving its customers time and money. 

“Life feels more complicated than ever,” Walmart’s chief customer officer Janey Whiteside said in a press release. “Walmart+ is designed to make it easier — giving customers an option to not have to sacrifice on cost or convenience.”

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