Retailers face mounting pricing pressure as consumers adjust their spending habits, and value becomes a universal priority, according to a new report from Consumer Edge. The study finds high-income and young shoppers are both trading down. Walmart and Dollar General saw more new customers from the $150K-plus income bracket and 18-to-34 age group, signaling broader value-seeking behavior. Dollar stores and Amazon both gaining momentum Dollar Tree and Five Below posted double-digit growth since mid-April 2025, while Amazon maintained steady high single-digit gains and remains the dominant U.S. e-commerce player. Warehouse growth slows Growth slowed from elevated levels at warehouse clubs such as Costco, BJ’s and Sam’s Club as consumers pulled back on bulk purchases after a stock-up driven boost. Target’s new customer mix skews older and lower-income Unlike Walmart, Target’s new customer growth is driven by lower-income shoppers, suggesting it may be losing appeal among higher-income consumers managing discretionary spend. Its once-strong “cheap chic” image may no longer resonate with younger, trend-conscious buyers. Geographic shifts Dollar stores and discount chains remain dominant in rural areas with continued expansion, while urban consumers lean toward warehouse clubs and e-commerce. However, Amazon’s rapid delivery rollout could blur that divide. Retention trends Deep brand loyalty contributes to Amazon, Walmart and Costco’s strong customer retention rates. Meanwhile, dollar stores maintain lower retention rates, as their value-driven, transactional model attracts more occasional and price-sensitive shoppers.