Walmart sees signs of a budget-strapped consumer who is trading down “in terms of quality and quantity.”
Shoppers are increasingly using credit more than debit.
They are opting for smaller packages of food and buying items like canned tuna and beans instead of deli meats and beef.
The retailer's reputation as a discounter is attracting more middle- and high-income shoppers. About three quarters of Walmart's market share gains in food came from customers with annual household incomes of $100,000 or more.