Shoppers earning $100,000 are turning to dollar stores amid soaring inflation, Dollar General CEO says
Shoppers earning six-figure salaries are turning to dollar stores amid soaring inflation in the US. Economic uncertainty is pushing some Americans to tighten their pursestrings. Dollar General''s "core customer" usually earns under $40,000 a year, CNN reported. Shoppers with six-figure salaries are turning to Dollar General stores amid soaring inflation in the US, the discount store''s CEO Todd Vasos said this week, per CNN. Speaking at a retail conference on 7 September, Vasos said Dollar General stores had seen an influx of wealthy customers in recent months, CNN reported. "The highest trade-in that we''ve seen and the most robust has actually been between the $75,000 and $100,000 group, Vasos said. The company says its "core customers" usually earn under $40,000 a year, according to CNN. Vasos added that some of these higher earners had previously been customers at the height of the pandemic and were now returning, CNN reported. Dollar stores have generally experienced a revenue boost during times of economic uncertainty.
Shoppers earning $100,000 are turning to dollar stores amid soaring inflation, Dollar General CEO says
Shoppers earning six-figure salaries are turning to dollar stores amid soaring inflation in the US. Economic uncertainty is pushing some Americans to tighten their pursestrings. Dollar General''s "core customer" usually earns under $40,000 a year, CNN reported. Shoppers with six-figure salaries are turning to Dollar General stores amid soaring inflation in the US, the discount store''s CEO Todd Vasos said this week, per CNN. Speaking at a retail conference on 7 September, Vasos said Dollar General stores had seen an influx of wealthy customers in recent months, CNN reported. "The highest trade-in that we''ve seen and the most robust has actually been between the $75,000 and $100,000 group, Vasos said. The company says its "core customers" usually earn under $40,000 a year, according to CNN. Vasos added that some of these higher earners had previously been customers at the height of the pandemic and were now returning, CNN reported. Dollar stores have generally experienced a revenue boost during times of economic uncertainty.