"In a period marked by economic uncertainty, understanding which audience segments remain willing to spend – and which are looking to cut back – can be crucial for consumer-facing companies," argues a white paper by the location analytics company Placer.ai.
This is especially true at a time of inflation when some shoppers may choose to switch from their usual brands to lower-cost alternatives.
To make its point, the paper analyzes data from two national retailers, Target and Ulta. It concludes that each company has successfully managed to attract wealthier shoppers with incomes above $150,000 while holding on to its broader client base.
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