As the nation’s largest grocer, Walmart has used low-priced groceries to attract customers — including wealthier ones. About 75% of its market share gains in grocery came from shoppers with an annual household income of more than $100,000 in the past two quarters.
Yes some of this is obvious but the details are interesting. Walmart has a ton of data.
Scariest quote in the entire interview:
Last month, Walmart Chief Financial Officer John David Rainey told CNBC that people are buying cheaper proteins such as hot dogs, beans and peanut butter instead of more expensive meats