Walmart attracting more affluent grocery shoppers online.

According to a report by Brick Meets Click sponsored by Mercatus, Walmart is attracting more affluent customers to shop online for groceries. Affluent customers making over $200,000 a year have played a significant role in driving Walmart's growth in the first half of 2024. While Walmart's core online customer base remains lower-income households, affluent shoppers have expanded to 8% and are growing almost five times faster than the overall customer base. Lower-income households are also spending less online at Target and supermarkets. Walmart was the only retailer to not experience a decline in average order values, with the AOV for affluent shoppers increasing by over 40% to $119. Overall, Walmart's online grocery order frequency rates increased slightly during the first half of 2024. [Extracted from the article]