Analysis-Amazon has a Prime edge over Walmart: richer customers

Published by
Reuters UK

By Siddharth Cavale NEW YORK (Reuters) – Amazon Inc’s strong quarterly performance on Thursday offered another sign of a split in shopping patterns between more- and less-affluent Americans dealing with the highest inflation in four decades. On Monday, rival Walmart Inc, which caters to a more cost-conscious customer, slashed its second-quarter profit forecast, blaming a shift in consumer spending towards more low-margin food products over apparel and other general merchandise. This has led to an inventory buildup that the nation’s largest retailer said it would markdown aggressively. By contr…

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