Part 3/9:
Over the last few years, Walmart thrived as consumers sought lower prices, but now they are witnessing a broadening weakness across their customer base. It’s noteworthy that high-income shoppers, once drawn to the retailer for affordability, are now leveraging app-based shopping and opting for pickup services, highlighting a limitation in their willingness to engage with physical stores. In fact, Walmart is pivoting to expand its house brand offerings, a stark indication that many consumers can no longer afford name-brand goods. This trend spells trouble, as it suggests that even those with relatively higher incomes are beginning to feel the squeeze.