Walmart targets most loyal spenders with Burger King partnership

See chart in Dash.

Over half of Walmart’s customers shopped at Burger King in the 12 months ended October 14, 2024, according to Earnest credit card data. Walmart recently announced a partnership with Burger King, offering Walmart+ members 25% off all Burger King digital orders and a free Whopper every three months with any purchase. 

Spending data does not yet suggest there has been a business lift in the number of Walmart customers eating at Burger King, or Burger King customers going to Walmart. The percentage of Walmart customers shopping at the fast food chain in the last 12 months declined by approximately 4pts to 54% (see chart in Dash). Meanwhile, the percentage of Burger King customers shopping at the big box retailer only slightly declined by 0.5pts to 95.4%. 

Still, credit card data suggests Burger King customers are highly valuable to Walmart. The average Walmart customer spent $2,871 at the retailer in the 12 months ended October 14th, while the average Burger King customer spent $3,479 at Walmart in the same period (see chart in Dash). McDonald’s customers, the highest overlapping QSR with Walmart, spent $3,069 at Walmart in the same 12 month period (see chart in Dash).