New YorkCNN Business — Middle-income and wealthier shoppers, pinched by inflation, are shopping more at Dollar General for essentials and discretionary items.
Dollar General (DG) CEO Todd Vasos this week said the retail giant has been attracting customers earning $100,000 a year in recent weeks. Inflation has pushed up prices for groceries and gas, and now these shoppers are turning to Dollar General (DG) and others to try to save money.
“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 at a retail conference Wednesday. Some of these customers first shopped at Dollar General earlier in the pandemic and have now returned, he added.
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