Even Well-Off shoppers will turn to bargains at dollar stores
As inflation surpasses 40-year highs, it’s not only low-income shoppers who prefer buying from dollar stores, looking for bargains. Dollar General has marked robust sales from consumers who earn $75,000 to $100,000, according to CEO Todd Vasos. Dollar General’s “core” consumer earns less than $40,000. As discovered, higher earners started shopping at Dollar General in the early days of the pandemic and since then, they’re constantly returning.
A couple of years back, The New York Times Magazine discovered that around %22 of dollar-store shoppers earn more than $70,000 a year. Not to mention that they’re the fastest-growing segment of discount shoppers, alongside millennials!