top of page

Wal-Mart attracts American wealthier shoppers

Writer's picture: Capitol TimesCapitol Times

Photo Source: By Aaron F. Stone - Own workPreviously published

As a result of inflation, high-income-class Americans are increasingly shopping at Walmart for items.



In a recent interview with CNBC, Walmart's chief financial officer John David Rainey said the company's reputation as a discounter is attracting more upper- and middle-class customers. Purchasing quantities and quality are being reduced by budget-strapped consumers. Rather than beef or deli meat, they buy beans and canned tuna. Gas prices, food prices, and housing prices all contribute to their stress, he said.



The use of credit over debit is increasing among some shoppers, Rainey said. CFO noted that three-quarters of the company's market-share gains in food came from consumers with annual household incomes over $100,000.



17 August 2022

Comments


Contact us

Letter to Editor-In-Chief
Editor@capitoltimesmedia.com

For Advertising in
Capitol Times Magazine:

ads@capitoltimesmedia.com

Capitol Times magazine Issue 5
Capitol times magazine 9
Capitol times magazine 10

Join our mailing list

FOLLOW US

  • X
  • Facebook
  • Twitter
  • LinkedIn
  • YouTube

Disclaimer:

The views and opinions expressed in the articles or Interviews published in this magazine are solely those of the respective authors and do not necessarily reflect the official policy or position of the Capitol Times magazine or Capitol Times Media , its editors, or its staff. The authors are solely responsible for the content of their articles. The magazine strives to provide a platform for diverse voices and opinions, and we value the principle of free expression. The magazine assumes no responsibility or liability for any errors or omissions in the content of the articles. In no event shall the Capitol Times magazine or Capitol Times Media be liable for any special, direct, indirect, or incidental damages. Furthermore, the inclusion of advertisements or sponsored content in Capitol Times magazine does not constitute an endorsement or guarantee of the products, services, or views promoted by the advertisers. Readers are encouraged to conduct their own research and exercise caution when making decisions based on advertisements or sponsored content featured in this publication.

Thank you for reading and engaging with our publication. Your feedback is valuable to us as we continue to provide a platform for thought-provoking content and diverse perspectives.

© 2024 by Capitol Times Media LLC - Privacy Policy

bottom of page