Big-box stores lowering prices wasn’t an altruistic move to throw customers a bone during tough times. Retailers have suffered from weak sales due to customers’ struggle with high prices. Target reported a 3.1% drop in net sales from a year ago and a 3.7% quarterly dip in comparable sales, marking its fourth consecutive quarter of declines. Though Walmart has continued to soar, it owes much of its 6% revenue growth to its e-commerce successes and wealthy customer base, the latter of which makes up a growing chunk of its audience.
This trend has continued in fast food, with McDonald’s, Wendy’s, and Burger King all announcing meal deals following earnings reports that suggest customers are losing their taste for high-priced fast food, including $18 Big Mac meals and threats of surge pricing.
Though Walmart has continued to soar, it owes much of its 6% revenue growth to its e-commerce successes and wealthy customer base, the latter of which makes up a growing chunk of its audience.
No one could have anticipated this outcome
wtf
You know shit is bad when you need to be making $80,000 a year to afford to shop at Walmart.
You have to be wealthy to shop at Walmart now. I don’t know whether to laugh or cry.