Since its inception, Walmart has been a beacon for the bargain shopper. But now the retailer known for its low prices is appealing to a new demographic: customers who make more than $100,000 per year.
Walmart, the world’s largest retailer, reported a strong third quarter—and its chief financial officer in part credits this new customer base for the boost. Sales came in just under $170 billion, in-store sales increased 5.3%, foot traffic jumped 3%—but the big difference was in e-commerce sales, which leapt 22%.
