Walmart Attracting Wealthier Customers Looking For Cheaper Groceries As Inflation Rages

almart is winning customers looking to stretch their paychecks at a time of high inflation, using its immense size to offer lower prices on groceries than competitors.

“Customers who came to us less frequently in the past are now shopping with us more often, including high-income customers,” Walmart CEO Doug McMillon said on a Tuesday call with investors and analysts. The company absorbs price increases on some items, keeping costs low for its customers and also lower than competitors. For instance, it will keep prices flat on items needed to prepare a meal for Thanksgiving, offering a basket of 25 items for $88, including selling turkey for less than $1 per pound.

Despite the rise in foot traffic at Walmart, sales in categories like apparel, electronics and home goods have remained weak. While a shopper may come in for Tide laundry detergent or bananas, said McMillon, they may not buy a sweater. General merchandise sales declined by the low single digits in the quarter from the previous year. That is despite heavy discounts as the retailer attempts to get rid of a mountain of excess inventory built up during the pandemic.

in Canada Walmart Groceries are as expensive as all other high priced Grocery stores, except for some of their own brand, 'great value', packaged food items.

You got to be wealthy if you want to buy salmon and steaks

Rich people during COVID begin more rich.

Bidenomics killing everyone except for the wealthy and extremely wealthy. On purpose – it’s part of the green new deal.

Alternate title: inflation so bad the rich are shopping at Walmart.

what this truly means is the rich aren’t crazy they know the recession is coming and are saving money by any means possible which adds to the fact the crash is eminent

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