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Dollar General raised its full-year forecast after a better-than-expected first quarter, but the bigger story is who’s shopping and why. CEO Todd Vasos noted a growing number of middle- and upper-income customers turning to the discounter in search of value, a sign that inflation fatigue is broadening across income brackets. At the same time, Dollar General is working to reduce its reliance on Chinese imports to keep price hikes in check and insulate itself from geopolitical risk.

This signals a broader shift in the consumer landscape: value isn’t just for low-income households anymore. Even wealthier shoppers are trading down on essentials, and retailers that can deliver low prices without sacrificing convenience stand to benefit. But holding the line on price means Dollar General must also get smarter on sourcing, making supply chain diversification not just a political move, but a strategic one.