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If you\u2019ve been thinking about joining Sam\u2019s Club, you may want to act fast: The annual membership fee will go up $10 starting next month.<\/p>\n<\/div>\n
The Walmart-owned chain of warehouse stores has been emailing existing members this week to alert them of the price increases. Effective May 1, a standard Sam\u2019s Club membership will cost $60, up from $50, while the cost of a Plus membership will increase from $110 to $120. The company is clearly trying to push more people to its higher-cost Plus membership, as it\u2019s also upped the cap on its 2% cash-back rewards these members can earn\u2014from $500 annually to $750.\u00a0<\/p>\n
The company confirmed the price increases to Fast Company<\/em> and indicated that current members will renew at the updated rate during their next billing cycle. However, a few people on Reddit<\/a> have noted that they were able to renew their memberships early at the current prices.<\/p>\n The forthcoming price change marks the second time in five years that Sam\u2019s Club has increased annual membership costs, with the previous increase occurring in late 2022.\u00a0<\/p>\n<\/div>\n \u201cWe have adjusted our membership pricing to support the things our members love,\u201d a spokesperson for the Bentonville, Arkansas-based company said in a statement to Fast Company<\/em>. Such benefits include expanded in-club hours, curbside pickup, and enhanced delivery options, the spokesperson noted.<\/p>\n The company plans to open six new Sam\u2019s Club stores this year in Tennessee, California, and Texas, as USA Today<\/em> has reported<\/a>. It also named a new CEO, Latriece Watkins, earlier this year and has made a more concerted effort to woo higher-income customers away from rival Costco.<\/p>\n Indeed, there\u2019s no longer much of a discount, if any, to an annual Sam\u2019s Club membership compared with its two main competitors. BJ\u2019s Wholesale Club is likewise on an expansion tear this year and charges $60 and $120 for its two membership tiers, while it costs either $65 or $130 annually to be a member of Costco.<\/p>\n<\/div>\nWHAT\u2019S BEHIND THE PRICE INCREASE<\/h2>\n