Walmart attracts higher-income shoppers

More customers: A cashier scans items at a Walmart store in California. In the United States, its online grocery market share, which includes pickup and delivery services, rose to 55% in the month of June from 52% in March. — AFP

NEW YORK: US inflation at a four-decade high has hit lower-income Americans the hardest. Walmart’s results showed that those with bigger wallets are getting squeezed, too.

The nation’s largest retailer, which caters to budget-conscious shoppers, said it saw more middle and higher-income customers shop at Walmart during the second quarter, a shift it said was different from prior economic downturns.