With prices of goods still high, more higher-income U.S. shoppers are turning to big-box discount chain Walmart Inc. for relief.
With prices of goods still high, more higher-income U.S. shoppers are turning to big-box discount chain Walmart Inc. for relief — a trend some analysts see persisting in the months ahead.
And while Walmart’s WMT financial outlook, issued this week, was weaker than expected, executives said wealthier shoppers were driving market-share gains. Rising prices over the past year have forced more consumers to focus their spending on basics, like groceries. But as those essential purchases vacuum up consumers’ savings, retailers have had to cut prices on less essential goods, like clothing and electronics, to get shoppers to buy.
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