Walmart witnesses strong consumer demand

American consumer spending is still strong, as CEO of Walmart U.S. John Furner says. Since retail representatives monitor the market on a regular basis, they consider demand in the United States to be steady.

Despite financial pressures on consumers, Walmart has seen a positive trend in terms of their spending. 

Furner shed no light on the looming recession risks for the country. However, he predicted consumers are increasingly looking for "value" in the current economic environment.

Walmart's customer base increased significantly last quarter. According to the CEO, customer income levels have also been higher than previously expected. 

As for consumers reaching their financial limit, Furner said that market conditions are constantly changing. 

Thus, some customers are switching to private labels, others to smaller packages. Those with higher incomes may not change their habits. It all depends on the state. 

Currently, Walmart is developing a strategy to cut unnecessary costs while doing business. So, the company is expected to "better reflect its own values" in dealing with the customers.

Walmart's latest earnings report will be released on Nov. 15.