Yahoo Finance Will the Price of a Sam’s Club Membership Rise Before 2025?
A warehouse club membership is often a wise investment, but only if it saves you more than the yearly membership fee. So if you’re a current Sam’s Club member or contemplating joining, you may be wondering whether the price of a Sam’s Club membership will rise in 2024.
Be Aware: Don’t Waste Your Money on These 5 Unreliable Appliance Brands
Try This: How To Get $340 Per Year in Cash Back on Gas and Other Things You Already Buy
Here’s what you can expect from Sam’s Club membership fees this year.
Will Sam’s Club Membership Prices Rise in 2024?
Sam’s Club has not announced any planned membership price increases for 2024. Its two annual membership options currently include the Club level for $50 and the Plus level for $110. Here are some of the perks you get with each membership.
Club Perks
The primary perk of the $50 Club membership is access to the low member-only pricing throughout the store and the periodic Instant Savings promotions on select items. Club members also benefit from gas savings at locations with pumps, free battery testing and free flat-tire repairs.
Plus Perks
Plus members, of course, receive all of the Club-level perks. However, the following additional benefits can help make the $110 membership fee worth the cost for some:
2% Sam’s Cash earnings, up to $500 annually, on qualifying in-club purchases, which you can put toward in-club or online purchases and membership fees
Free shipping on most online and in-app purchases
Free curbside pickup
Savings on generic prescription medications in the pharmacy
20% off prescription eyeglasses
See More: I’m a Sam’s Club Superfan: These Are the 9 Best Summer Items To Buy
How Frequently Does Sam’s Club Raise Its Membership Prices?
Sam’s Club last increased its membership prices in 2022. Plus members experienced a $10 increase, and Club members $5. It was the first Club membership increase in nine years, and the only Plus-level increase since its introduction in 1999.
If history repeats, it could be a few years, if not longer, before Sam’s Club raises its membership fees again.
Reasons a Warehouse Club May Raise Its Membership Fees
A primary factor in membership price increases seems to be tied to overall membership revenue. Earlier this year, there was speculation that Sam’s Club competitor Costco was heading for a membership price bump. However, an 8% increase in membership revenue from last year helped Costco avoid raising its fees. Perhaps the 13.3% increase in Sam’s Club’s membership income, reported on page 4 of Walmart’s earnings release in May, will help Sam’s Club do the same.
Of course, inflation continues to impact the cost of nearly everything and likely indirectly influences warehouse club membership prices. However, Walmart, of which Sam’s Club is but one division, is reportedly faring better than many other retailers.
How To Save on a Sam’s Club Membership
If you’re considering a Sam’s Club membership, you can often save significantly on your first year by signing up during one of the sign-up promotions Sam’s Club offers throughout the year. Sam’s Club doesn’t offer a month-to-month option like Walmart+ or Amazon Prime, so you’ll want to weigh the membership perks and potential savings against the annual fee to decide whether you’ll get your money’s worth.
Sign-up promotions don’t apply to renewals, but current Sam’s Club members can save by taking advantage of as many club perks as possible, especially Instant Savings discounts and gas savings, which you get regardless of your membership level.
More From GOBankingRates
This article originally appeared on GOBankingRates.com: Will the Price of a Sam’s Club Membership Rise Before 2025?
