Walmart is taking on Amazon with its push into pet telemedicine

Walmart is entering the booming pet telemedicine market, according to foreign media reports. The company has reached an agreement with veterinary telehealth provider Pawp to provide Walmart+ users with a one-year membership service.

Walmart+ subscribers will have unlimited access to the Pawp website and app via video or text messaging starting May 23. However, Walmart says the offer will be available for a limited time and Walmart+ subscribers must opt-in by November 19.

As consumers seek convenience, pet telemedicine services are beginning to rise. It is understood that Pawp's annual membership price is $99. The terms of the transaction were not disclosed.

The report said that Walmart hopes to increase the value of its Walmart+ subscription service through this move to improve shopper loyalty, attract and retain high-income customers, and better compete with Amazon.

Walmart+ subscription service costs $98 per year, or $12.95 per month. Similar to Amazon Prime, Walmart+ members get free shipping and a host of other benefits, such as free access to Paramount+ and gas station discounts.

Amazon Prime costs $139 per year, or $14.99 per month, and offers free shipping and streaming access, as well as other benefits like photo storage and prescription discounts. Adding Pawp to its Walmart+ subscription would go a long way toward making Walmart+ more competitive.

"It's undeniable that over the past decade, we've come to view pets as part of the family," said Marc Atiyeh, CEO of Pawp. "Walmart wants to be a big player in pet care and pet wellness, and Pawp allows them to leapfrog their competition."

It is learned that the current US pet market size has reached 123.6 billion US dollars and is in the midst of an explosive growth period. More and more American families are willing to spend a lot of money on pet care.

The U.S. pet market is expected to grow to $200 billion by the end of the decade, according to research from Bloomberg Intelligence, and pet health care is driving the boom.

Amazon is increasing its investments in human health, including its $3.9 billion acquisition of primary care provider One Medical. But Walmart has been growing its pet business. It is already one of the largest players in pet food, prescriptions, insurance, and durable goods such as toys and beds.

“Walmart has become a one-stop shopping destination for pet owners," a spokesperson for the company said. "Walmart delivers real value by offering simple, convenient shopping and affordable solutions across all categories – groceries, food, toys, apparel, consumer durables and services."

Walmart's partnership with Pawp will allow it to better compete with Amazon and potentially boost sales of its pet products. At the same time, the deal will also help Pawp reach millions of potential customers.

Walmart does not publicly disclose the number of users of its Walmart+, but Morgan Stanley estimated in an April research report that the number of Walmart+ members has reached 19.3 million and is growing steadily.

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