US giant Walmart has acquired online art and wall decor retailer Art.com, as part of its strategy to add more members of the "high earners not rich yet" (HENRY) demograpgic to its customer base. HENRYs are younger than Walmart's traditional customer base, with household incomes of between $100,000 and $250,000, and are responsible for 40% of total US spending. The acquisition will give Wal-Mart a new way to reach out to this demographic, which is increasingly important in an economy where many people have lost their jobs or seen wages stagnate while prices continue to rise.
US giant Walmart has acquired online art and wall decor retailer Art.com, as part of its strategy to add more members of the "high earners not rich yet" (HENRY) demograpgic to its customer base. HENRYs are younger than Walmart's traditional customer base, with household incomes of between $100,000 and $250,000, and are responsible for 40% of total US spending. Walmart said it will begin cross-listing art.com products on its site.