KEY POINTS
- The American shopper is still feeling “stressed” by inflation, and the effects aren’t being felt evenly across categories, Walmart CEO Doug McMillon said.
- Shoppers are being more selective about their purchases, McMillon said, and skipping some electronics, for example, in favor of staples.
- Walmart is among a slew of retailers that has seen a shift in shopping patterns, as inflation drives up the price of food, housing and more.