{"id":986,"date":"2026-06-08T18:44:22","date_gmt":"2026-06-08T18:44:22","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=986"},"modified":"2026-06-08T18:44:22","modified_gmt":"2026-06-08T18:44:22","slug":"even-the-ultra-wealthy-are-having-to-shop-in-walmart-right-now-ceo-john-furner-says-were-meeting-more-of-them-theyre-buying-more","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=986","title":{"rendered":"Even the ultra-wealthy are having to shop in Walmart right now, CEO John Furner says: \u2018We\u2019re meeting more of them, they\u2019re buying more\u2019"},"content":{"rendered":"
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\u201cWe do continue to see the higher-income customers coming to Walmart,\u201d Furner told reporters during the retailer\u2019s annual shareholders\u2019 week in Bentonville, Arkansas, last week. \u201cWe\u2019re meeting more of them, they\u2019re buying more, they\u2019re coming more frequently.\u201d<\/p>\n

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Walmart\u2019s lower-income shoppers have shown \u201cmore signs of stress\u201d under the current economy, Furner pointed out. And they\u2019re not the only ones being more strategic with their budgeting; more six-figure earners are turning to discount grocery chains as food costs are inflated by spiking oil prices, tariffs, and global trade uncertainty.\u00a0<\/p>\n

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\u201cThat\u2019s really the stress point, is the price of fuel,\u201d the CEO continued. \u201cHopefully we see some relief on energy prices.\u201d<\/p>\n

Walmart has seized the moment, wielding its size and influence as America\u2019s largest food retailer to absorb fuel cost increases and keep prices competitively lower, company executives said. However, that could change in the coming months if gas continues to stay at its current high.<\/p>\n

America\u2019s cost-of-living crisis is sending six-figure earners to discount grocery stores\u00a0<\/h2>\n

Shoppers are gawking at their climbing receipts as food costs continue to climb. The median price of a cold brew coffee has increased 3.7% since May 2025, while burgers have shot up 2.4%, in the same time, according to Toast. And the costs of grocery run essentials have soared; the typical price of a pound of ground beef hit a record $6.90 per pound last month, up from about 19% from a year ago. Orange juice prices skyrocketed 21% between January 2025 and February this year, and sandwich bread got 4.3% more expensive.\u00a0<\/p>\n

Now, Americans are pulling back on entertainment and travel to put food on the table. Around 75% say that they\u2019ve cut spending on other expenses to be able to afford groceries, according to a 2025 survey by Swiftly.<\/p>\n

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And earlier this month, the CEO of discount grocery store Dollar General, Todd Vasos, revealed that the chain\u2019s shoppers are cutting back on food and other household goods. And it appears to be an escalation from the growing alarm raised by food companies that said that customers were on the hunt for bargains, but were still buying the same amount of food. Now, even shoppers at the budget store are pulling back on the amount they\u2019re picking up.<\/p>\n

\u201cOur core customer continues to be financially constrained,\u201d Vasos told analysts last week. \u201cThis pressure has been more pronounced on customers in rural communities, as they work to minimize trip distance and make trade-offs in their search for everyday affordability and value.\u201d<\/p>\n

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Even those who have been considered rich for making over $100,000 are resorting to penny-pinching habits.\u00a0<\/p>\n

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More than seven in 10 of six-figure earners now shop at discount grocery chains to save cash, according to a 2025 report from Clarify Capital. And their financial woes are bleeding into most parts of their lives; around 74% also said they\u2019re cutting back on dining out, 54% are skimping out on entertainment, 51% are getting thrifty with buying clothes, 49% are scaling back their subscriptions, and 49% are spending less on travel.<\/p>\n

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\u201cIn today\u2019s economy, income alone doesn\u2019t guarantee financial peace of mind,\u201d the Clarify Capital report said. \u201cHigh earners are feeling squeezed by inflation, stressed by social pressure, and more mindful about what it really means to be well-off.\u201d<\/p>\n

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