Walmart is to Gen Z what Target was to millennials. Here's where ‘Tar-zhay' lost its footing [Fortune]
Amazon.com, Inc. (AMZN)
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Source: Fortune
Target, which has long been regarded as the fancier version of its counterpart, had a lackluster quarter. It was so poor that as a result of missing Wall Street profit forecasts, Target's stock sank a whopping 22% this week. Meanwhile, Walmart, the world's largest retailer, had a strong quarter . Sales came in just under $170 billion, in-store sales increased 5.3%, foot traffic jumped 3%—but the big difference was in e-commerce sales, which leapt 22%. Some of Walmart's success was thanks to a new demographic flocking to the discount retailer: people who make more than $100,000 per year . These households accounted for 75% of the company's gains, Walmart CFO John David Rainey told Yahoo Finance , a demographic typically associated with shopping at Amazon and Target Plus, Walmart has become a haven for younger shoppers with an 18% increase in the demographic's online purchases during the past year, George Heudorfer , adjunct marketing professor at the University of New Haven's Po
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