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Walmart going upscale to attract the wealthy?

I don't care if they carry Lululemon or not, I'm not mingling with the proletariate. Eckkkkk.

Walmart wants more wealthy shoppers

The retail giant is making renovations to its sales floors and its assortment of brands

By Francisco Velasquez, Quartz Media

Mar 21, 2024

The retailer’s has added brands such as Reebook, US Polo Association and Chaps to its sales floors.

Change is in the air at Walmart — and you may even be able to see and feel it. That’s because the retail giant is taking another shot at luring upscale shoppers with a posh makeover that includes blouses, blazers, and cargos.

Among the key changes, Walmart says it will upgrade its lighting, increase its mannequin headcount, reduce displays, and more notably, spotlight high-end products, Bloomberg reports.

During the company’s fourth-quarter earnings call in February, Walmart U.S. CEO John Furner said the retailer has plans to do “650 more remodels” this year.

“We did close to 700 last year, which is I think our largest year,” Furner said. “The results are very promising.”

Walmart, known for its cost-saving items, has long struggled to attract wealthier shoppers, who have traditionally turned to other retail giants such as Target when doing big-box shopping.

The latest revamp has been years in the making. In 2006, Walmart tried appealing to upscale consumers by selling organic food. In 2010, the company said it would be “going back to basics” after its attempt to reach wealthier shoppers didn’t do much to increase sales.

Walmart’s lack of success with upscale consumers hasn’t deterred it from adding a number of brands that resonate with them, Denise Incandela, Walmart’s executive vice president of fashion and private brands, told Bloomberg. The retailer has added brands such as Reebok, US Polo Association, and Chaps in an effort to change the company’s image among wealthier customers, she said.

The shift isn’t only for in-person shoppers. The company is leveraging its social media presence on Walmart’s Fashion Instagram account to promote trendier items. The account features products like shape wear by intimates and sleepwear maker Joyspun, and women’s spring clothing by the bloggers Lindsey & Whitney, known as The Double Take Girls.

At the same time, inflationary pressures have helped Walmart as even higher-earning consumers look to save. In its latest earnings report, the company said that gains in grocery and general merchandise were primarily driven by higher-income households.

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