Lots of upper income people shop at Walmart, Target, and Costco.
“ During the first half of 2024, households making less than $50,000 annually accounted for 41% of Walmart’s average monthly active users, compared to 36% for hard discount, 30% for supermarkets and 28% for target.
However, Walmart’s most affluent segment, households with $20…
Lots of upper income people shop at Walmart, Target, and Costco.
“ During the first half of 2024, households making less than $50,000 annually accounted for 41% of Walmart’s average monthly active users, compared to 36% for hard discount, 30% for supermarkets and 28% for target.
However, Walmart’s most affluent segment, households with $200,000 or more in annual income, expanded to 8%, growing almost five times faster than the 4% year-over-year growth for its overall average monthly active user base. ”
“ When it comes to income, 47% of Target shoppers are in the middle-income range ($40,000 to $125,000 annually, and 32% fall into the high-income bracket ($125,000 annually). Twenty-one percent of shoppers fall into the low-income (under $40,000 annually) bracket. Other Target insights from Numerator are below.”
“ So who, exactly, are the people flocking to Costco’s warehouses? According to recent data, 66% of Costco customers are Gen X (born 1965-1981) or Baby Boomers (born 1946-1964), and 61% are white.
About half (46%) of shoppers are middle income (household income: between $40,000 and $125,000), while 36% are high income (household income: over $125,000).”
This is your response? This is why we are in so much trouble.
My point is that lower, middle class Americans - this takes you easily into $125-200k income range- rely on low priced, high quality goods that will be much more difficult to find in a high tariff world. And wages will take much longer to equalize to prices- leaving these Americans in far worse shape for far longer than any of you imagine.
It depends where you live. $150k in NYC is not the same as in Little Rock. It’s just annoying that nobody responds to my larger point. Decent quality food and staples- all but the very rich are sensitive- anyone I know even at $200-300k is careful about what they spend and have a budget. Problem is prices of these goods will go up dramatically long before wages catch up. OR, wages will never catch up because if high-priced tariffed goods can’t be passed on to consumers, then retailers with 3% profit margins are going to scale back and that leads to lower production- making the tariffs counter productive.
Either way, a recession and or stagflation will bury the lower and middle classes. High unemployment will cause massive hardship to those already struggling. Ted Cruz has it right by sounding the alarm for Republicans- continuing on this path will not lead to good outcome in midterms.
Lots of upper income people shop at Walmart, Target, and Costco.
“ During the first half of 2024, households making less than $50,000 annually accounted for 41% of Walmart’s average monthly active users, compared to 36% for hard discount, 30% for supermarkets and 28% for target.
However, Walmart’s most affluent segment, households with $200,000 or more in annual income, expanded to 8%, growing almost five times faster than the 4% year-over-year growth for its overall average monthly active user base. ”
“ When it comes to income, 47% of Target shoppers are in the middle-income range ($40,000 to $125,000 annually, and 32% fall into the high-income bracket ($125,000 annually). Twenty-one percent of shoppers fall into the low-income (under $40,000 annually) bracket. Other Target insights from Numerator are below.”
Chainstoreage.com
“ So who, exactly, are the people flocking to Costco’s warehouses? According to recent data, 66% of Costco customers are Gen X (born 1965-1981) or Baby Boomers (born 1946-1964), and 61% are white.
About half (46%) of shoppers are middle income (household income: between $40,000 and $125,000), while 36% are high income (household income: over $125,000).”
Investopedia.com
This is your response? This is why we are in so much trouble.
My point is that lower, middle class Americans - this takes you easily into $125-200k income range- rely on low priced, high quality goods that will be much more difficult to find in a high tariff world. And wages will take much longer to equalize to prices- leaving these Americans in far worse shape for far longer than any of you imagine.
I was responding to what appears to be a misconception.
125-200k is not lower middle class. It’s top 20% to top 10%, which us NOT lower middle.
Lower middle class Americans are generally sensitive to food, gas, and housing prices above all else.
It depends where you live. $150k in NYC is not the same as in Little Rock. It’s just annoying that nobody responds to my larger point. Decent quality food and staples- all but the very rich are sensitive- anyone I know even at $200-300k is careful about what they spend and have a budget. Problem is prices of these goods will go up dramatically long before wages catch up. OR, wages will never catch up because if high-priced tariffed goods can’t be passed on to consumers, then retailers with 3% profit margins are going to scale back and that leads to lower production- making the tariffs counter productive.
You might be right…. Or wrong. Time will tell us.
Either way, a recession and or stagflation will bury the lower and middle classes. High unemployment will cause massive hardship to those already struggling. Ted Cruz has it right by sounding the alarm for Republicans- continuing on this path will not lead to good outcome in midterms.
Does not depend on where you live. Statistically ( don’t need to look up) anyone making over 100k a year is an exceedingly minor cohort.