Costco, Walmart and other retailers pursue affluent customers
/One retail category that’s done surprisingly well for Costco Wholesale in recent times: luxury goods. ROLEX watches, Dom Pérignon champagne, 10-carat diamonds and gold bars, according to the chain that operates large warehouse clubs associated with buying staples in bulk.
Affluent people love a good deal and they have money to spend.
Costco isn’t the only retailer to pursue affluent customers as high-income earners continue to account for a higher share of total consumer purchases in the U.S. Walmart has expanded its selection of high-end Apple products, Bose Corporation headphones and other items sought after by more-affluent customers, as part of a stab at upleveling the Walmart brand.