""We're seeing some dispersion between the high income earners and the low income earners," Corie Barry told the Fortune Most Powerful Women summit on Tuesday in Washington, D.C. "If I just level up, that is probably what keeps me up at night.""
""It makes it feel like there's really resiliency in the overall market, that's an issue, because your lower-income consumers are really struggling," she continued."
""Anytime the entire economy is heavily reliant on a small, narrow population of people. That is not good for the long-term health of the economy," said Barry, whose company took in revenue of $43.5 billion last year."
""How can we make sure we have something that will cater to you so that the answer isn't, no, I can't afford anything?" said Barry."
An electronics mass retailer is concerned that growing income disparity is concentrating consumer spending among affluent households, undermining long-term economic health. Approximately 60% of U.S. GDP now depends on spending by the most affluent segment, about double its pre-pandemic share. Lower-income consumers are facing credit delinquencies and struggling with inflation and high housing costs. The retailer expanded its assortment with more affordable items to retain customers across income levels. Tariffs imposed since April under the previous administration have complicated procurement. With less than 10% of global electronics manufactured in the United States, the retailer is particularly vulnerable to tariff disputes.
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