Walmart’s efforts to sell more products to higher-income customers are apparently bearing fruit.
According to a Reuters report, the company’s COO, Bill Simon, this week told a Morgan Stanley conference that wealthier customers are buying bigger-ticket items along with groceries and other necessities, such as electronics products from Apple, Samsung, Sony and other brands. As a result, in-store traffic has increased among customers of all income levels.
Simon told the conference that higher-income consumers are responding well to such changes as cleaner stores and less-cluttered shelves.
