Shoppers value convenience so much they are willing to pay more for it, according to Walmart U.S. CEO John Furner. "I think an underlying trend that has really shown up and is with us and I think is here to stay is convenience," Furner said during the National Retail Federation 2024 State of Retail & the Consumer discussion on Thursday. According to Furner, "people are willing to trade off, in some cases, prices for things that are more convenient.
Retailers, even industry giants such as Walmart and Target, have continually stressed on earnings calls that consumers are value conscious as they continue to battle persisting inflation and high interest rates. However, NRF CEO Matt Shay argued that "the resiliency of consumers continues to power the American economy.
Source: News Formal (newsformal.com)
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