Consumer Behavior

Gen Z, rich consumers driving opportunities for Walmart

Photo: dennizn - stock.adobe.com

August 28, 2026

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Gen Z shoppers and higher-income households, those earning over $100,000, are driving growth for Walmart while lower-income households and Boomers are pulling back when it comes to Walmart.

Those are top findings from a Numerator report on how Walmart's online focus is reshaping its shopper bases.

Walmart's strategy for battling Amazon and winning online is creating two distinct consumer stories, according to a press release.

The report's findings include:

• In the past year, Gen Z added 77 million trips worth $3.4 billion total across in-store and online. Higher-income households added $8.9 billion primarily online, supported by 115 million more trips.
• Higher-income households grew spending by $3.6 billion across beverages, snacks, candy and frozen food, while Gen Z added nearly $1.2 billion across the same categories.
• Gen Z households have made over 390 million trips with Walmart's private label CPG products in the basket in the past year which is more than Costco, Target, Aldi, Trader Joe's, and Whole Foods private label combined.
• Walmart.com is partially recapturing Boomer spending as Boomers made 160 million fewer CPG in-store trips to Walmart, contributing to a $6.2 billion decline.