Upper-Income Shoppers Contributing to Wal-Mart’s CPG Share

CHICAGO — Upper-income consumers have joined their lower- and middle-income counterparts and begun shopping at Wal-Mart, according to the findings of a recent Information Resources Inc. report. While lower- and middle-income consumers stepped up spending at Wal-Mart early in the economic downturn, higher earners significantly increased the share of CPG spending allocated to the retailer during the past six months. Wal-Mart is posting share gains in 84% of the top CPG categories. “Consumers are facing a full-on financial assault as prices for gas, energy, food and other necessities rise to historic levels,” said Thom Blischok, president of innovation and consulting for IRI, in a statement. “Low prices and one-stop shopping have proven to be an incredibly powerful combination at a time when consumers are forced to strategize to maximize gas usage and stretch budgets as far as they will go. Wal-Mart is exceptionally well-positioned for growth.”

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