'I don't feel high income anymore': Dollar General CEO says Americans on $100,000 are shopping like they're SKINT

From the Newshound archive · first published 24 September 2026 · last updated 25 September 2026.

Todd Vasos, CEO of discount chain Dollar General, says six-figure earners are flooding his stores because sustained inflation and surging gas prices have stripped the meaning from a $100,000 salary. Gas now averages $4.47 a gallon, with diesel hitting $6.50, driving up the cost of virtually every trucked good on American shelves. Consumer prices have risen more than 30 per cent over the past seven years, according to Bureau of Labor Statistics data.

Vasos says customer demographics visibly shift whenever gas tops $4 a gallon, with middle and upper-middle earners suddenly behaving like low-income shoppers.

Economists point to Trump's war against Iran and the resulting Strait of Hormuz energy blockade as a key driver of the price surge — despite his 2024 pledge to cut gas and egg costs.

'Even that middle to upper middle is acting more like a lower-income shopper these days,' Vasos told the Goldman Sachs Global Consumer and Retail Conference.