Unlike luxury consumer goods brands such as Cartier or Louis Vuitton, Best Buy needs to appeal to a very wide swath of society. Consumer spending patterns since the pandemic, especially the growing gap in spending power in the U.S. between the most affluent and the least, have the CEO of an electronics mass retailer worried.
“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.”
