Sam's Club (NYSE:WMT) announced a major expansion of its service offerings for members. The five new solutions, for both business and personal needs, aim to save members up to $2,300 a year.
In a conference call, Rosalind Brewer, president and CEO of Sam's Club, stressed that the new offerings are not part of the company's revenue-driving strategy but rather a long-term relationship builder. "We value our business members and this is how we show them that we value them," she said. "It's about building loyalty and maintaining that loyalty."
The first new service is identity theft protection. In collaboration with LifeLock, the retailer will help protect personal data with a savings of up to 25 percent annually.
The second service that was introduced was accounting and tax preparation through 1-800Accountant. The bookkeeping and tax filing service is offered at a flat rate pricing plan, starting at $29 a month.
Thirdly, Sam's Club is offering its members a business lending center that connects small businesses with responsible lenders and credit options in conjunction with Lending Club, SmartBiz and Sam's Club Business MasterCard.
The fourth new service, in partnership with technology firm First Data, helps members to streamline and simplify operations, starting at $19 a month.
And finally, members will have access to online marketing expertise from Web.com. There are five marketing bundles to choose from and members can save up to 36 percent on digital marketing services.
The new services come in addition to the already vast offering of member services for small businesses at Sam's Club. Last fall the company introduced healthcare, payroll and legal services for its members.
-See this Sam's Club press release
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