Rachel Wolfe

speaker

900 appearances 20 recordings 1 series first heard Mar 2022 last heard May 2024

Rachel Wolfe’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · More Wealthy Americans Are Shopping at the Dollar Stores · 5 Jul 2023 podcast

There was also a stigma attached to places like the Dollar Tree, and we've been seeing that disappear. matched

The biggest factor was inflation. matched

No matter how much you make, nobody wants to pay $12 for a carton of raspberries. matched

One of the consumers I spoke to told me that he grew up never shopping at the dollar store with his family. matched

He just didn't think to ever go in there. matched

There wasn't one by his house. matched

But when one of his friends, another high earner like him, matched

brought over a whole case of kombucha and told him that she had actually gotten it from the 99 cent store, he was shocked and decided to go himself and found so many good deals that now he says he goes once a week. matched

So a big part of it has to do with where these shops are now located. matched

Whereas in the past, somebody living in the suburbs might have to travel all the way downtown in order to find an Aldi. matched

Now it's much more likely that there is one in their neighborhood, perhaps right across the street from where they might ordinarily get groceries. matched

Higher income consumers are continuing to shop at discount stores despite the fact that inflation has cooled. matched

So this appears to be a shift that's sticking around. matched

One of my sources was talking to me about how he sees lots of people driving Porsches, Mercedes, and BMWs in the parking lot of the Aldi by his house now. matched

And he pointed out that no matter how much you make, you don't want to spend $4 on an avocado when you can get one for $0.59. matched

Dollar stores are all over social media platforms like TikTok and influencers can't get enough. matched

So they're posting all of these. matched

They're calling them dollar store hauls of so-called dupes, which is a product that works the same way as something more expensive, but costs a fraction of the price. matched

And so one entrepreneur I spoke to, she's a former real housewife of New York City and matched

It's more of a treasure hunt than perhaps they're used to or somewhere like Aldi where you have to pay a quarter, which you then get back to reserve a cart, which ensures that you're returning the cart where it's supposed to go and they don't need to pay employees to run around the parking lot picking up stray carts. matched

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