Sky high grocery bills are inflicting pain at the supermarket checkout counter. Food-at-home prices in 2022 jumped 11.4% and are expected to increase 5% in 2023. By comparison prices rose just 0.7% in 2019.
In an effort to stretch their grocery dollars further a growing number of Americans are turning to Walmart. The Arkansas-based retailer is America’s largest grocer more than twice the size of its next biggest competitor. Known for its low prices and massive footprint Walmart takes in more than one in four grocery dollars in the U.S., a one and a half percent increase from 2021.
Walmart’s low prices are also resonating with high income consumers who made up about half of the company’s market share gains in food in the fiscal quarter that ended January 2023. But with inflation cooling and prices leveling off will Walmart be able to hang to its newly acquired shoppers?
00:00 — Introduction
02:44 — Walmart’s grocery business
05:19 — How Walmart makes money
09:16 — Independent grocers
Produced by: Shawn Baldwin
Edited by: Dain Evans
Animations: Mithra Krishnan
Supervising Producer: Jeniece Pettitt
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How Walmart Is Beating Everyone In Groceries