High income consumers earning over $100K now dominate the base of the dollar tree

Customers who earn more than $100,000 generate the most new customer dollars.

The drug’s chief executive Michael Creedon said this week it continues to see significant growth in households with 3 households in its stores during the three-month period last year.

About 60% of those new customers were upper-income households — those earning more than $100,000 — according to Cleedon. About 30% were middle-income households – earning between $60,000 to $100,000 – and the rest were low-income households, or those earning less than $60,000.

Dollar General is seeing an increase in high-income consumers looking to stretch their dollars

“Today, we’re getting an increasingly broad audience of consumers, from households that focus on middle income and to work with,” said the dollar drug isn’t just about the hard stuff. ”

He said households without high incomes are selling at the dollar tree while households with no money are dependent on the company more than ever before as economic pressures are forcing board buyers to reduce spending.

Average spending by low-income households grew more than twice over the three-month period as spending by higher-income households, underscoring how those households remain “loyal and deeply engaged.”

The CEO aims to create mutual loyalty among its new, high-income customers, who are earlier in their customer life cycle with the company and spend more during each trip.

Dollar Tree sells family dollar for $1B

People shop at a dollar tree store in Brooklyn on March 26, 2025. (Spencer Platt/Getty Images)

‘While the estimated average household use of our high-low customers is currently low, given their high income, this is an easy interaction for travel, because the frequency of high incomes is there early, the frequency of purchase has a high growth period. ”

Dollar Tree is close to 1K family dollar stores

However, this trend of finding hard earners is not the same as the dollar tree. Instead, it is part of a consumer shift driven by higher inflation.

Customers who shopped at Dollar Tree in Aug. 2, 2022, in Chicago. (Scott Olson/Getty Images/Getty Images)

The high cost of essentials like food and household items has forced even the affluent to look for ways to stretch their budgets. Many of them have sold in stores known for their heavy discount or low-end models. Companies like dollar tree, dollar general, walmart and aldi continue to gain.

In June, Dollar General said its new customers shop more often and spend more visits compared to new customers a year ago. They also charge extra for their use of cognitive classes. Its CEO, Todd Vasos, told analysts during earnings in June that this behavior suggests the company continues to attract high-net-worth customers.

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Walmart reported back-to-back earnings as its share of high-net-worth shoppers continues to grow. In the most recent quarter, which ended on Oct. 31, the company said that consumers who earn more than $ 100,000 account for about 75% of its shares.