Costco, Walmart are appealing to wealthy shoppers

Published On Feb 24, 2025, 1:47 PM

Costco and Walmart are increasingly attracting wealthy shoppers by expanding their product offerings to include more premium items, such as luxury brands and high-end electronics. This trend is partly driven by a shift in consumer perception, where shopping at traditionally budget-friendly retailers is seen as a smart financial choice, especially in times of economic uncertainty. Both retailers have reported gains in market share among higher-income households as they remodel stores and enhance their product assortments, appealing to a broader customer base while still maintaining their traditional discount offerings.