About 75% of Walmart's market share in food and grocery in Q2 came from shoppers with $100k or more in annual household income, as high inflation reshapes consumer behavior.
ahead of the company's earnings report this morning that a vast majority of Walmart's market share in grocery in the second quarter came from shoppers with $100,000 or more in annual household income.Why it matters:about the economy than lower income households, Walmart's observation reflects the overwhelming impact higher prices have had across nearly all households.
Groceries and food products, considered staple purchases for households, are lower margin for stores like Walmart. But being able to offer a wide mix is clearly helping the retailer weather the downturn in demand for nice-t0-haves, such as clothing.Its same-store sales growth reached 6.5% from last year, higher than what analysts expected and what the company guided for
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