America's largest grocer: The rise of Walmart

At the supermarket checkout counter, Americans are increasingly feeling the pain of sky-high grocery bills. To stretch their budgets, a growing number of them are turning to alternative methods.

In the U.S., the largest grocer is an Arkansas-based retailer, which earns more than twice as much as its second-largest competitor and accounts for over one-fourth of all grocery sales, according to KeyBanc Capital Markets.

High-income consumers accounted for half of Walmart's market share gains in food during the fiscal quarter that ended in January due to the company's low prices.

According to Brad Thomas, managing director in consumer and retail at KeyBanc Capital Markets, in the future, we can expect middle America and affluent America to gradually shift some of their grocery shopping to Walmart.

Despite many Americans relying on Walmart for price relief, the retailer's customers are not immune to inflation. In response, Walmart has taken measures to mitigate some price increases. Beginning November 1st, the retailer will "remove inflation" on certain traditional Thanksgiving meal items, offering them at a lower price compared to the previous year.

Will Walmart retain its new customers as inflation decreases and prices stabilize?

CNBC examines the reasons behind the growing popularity of Walmart's grocery business among Americans.