ST. LOUIS – Walmart said more higher-income Americans are shopping at its stores looking to save money.
Inflation continues to drive up food prices. Walmart said it saw a rise in middle-and-higher income customers during the second quarter of this year.
The nation’s largest retailer said about three-quarters of its market share gains in the grocery category came from customers with annual incomes of $100,000 or more.
The majority of these sales were made online which helped Walmart beat earnings expectations.