Affluent consumers are creating a ‘bubble’ at Walmart, warns retailer’s former U.S. CEO Bill Simon

Former Walmart U.S. CEO Bill Simon warns that the influx of affluent consumers at Walmart may not be sustainable in the long term. While their presence has boosted recent quarterly results, Simon believes these consumers will return to premium services as economic conditions improve. He notes that Walmart's strengths lie in convenience, cost, and assortment rather than service, which may become a priority for shoppers post-inflation. Despite current successes, Simon anticipates potential challenges for Walmart as market conditions shift.