Popular discount store Dollar General has recently gained more customers from higher-income homes as people try to save money while facing looming inflation. The chain is known for its low prices and it believes bargains will be even more important for shoppers in the coming year. For Dollar General, that will also mean spending more on boosting inventory and adding staff as it works to gain additional market shares—up to $100 million more.
As Yahoo Finance reports, many people, even those with middle and upper incomes, had to change how they shop in 2022 because of higher food prices. In a call with analysts, Dollar General CEO Jeff Owen reportedly said, "Customers and income brackets above our core customers [are] shopping with us at an increasing rate."
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