Even high-income Americans are shopping more at discount retailers
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High-income Americans are increasingly shopping at discount retailers. The trend is driven by factors such as economic uncertainty, changing consumer preferences, and the availability of high-quality products at lower prices. According to a report, nearly 40% of households with incomes above $100,000 shopped at discount stores in 2020, compared to 27% in 2019. This shift in shopping behavior is not limited to lower-income households but is also seen among wealthier consumers. The COVID-19 pandemic has further accelerated this trend, with more people seeking value and savings in their purchases. Discount retailers like Walmart, Target, and Costco have seen a surge in sales and are attracting a broader range of customers. The article highlights that this shift in consumer behavior has significant implications for traditional retailers and luxury brands, who may need to adapt their strategies to cater to changing consumer preferences.



https://www.erienewsnow.com/story/50859226/even-high-income-americans-are-shopping-more-at-discount-retailers