A six-figure annual salary has long been viewed as a milestone of career success and financial security, but it no longer carries the weight it once did. The era of elevated inflation that began during the COVID-19 pandemic has eroded the value of $100,000 to the point where Americans earning that amount are hunting for bargains like everyone else.

Walmart has previously noted that more affluent customers are shopping at the discount chain. Now they are also patronizing deep discounters such as dollar stores. Retailers describe the pattern as trading down—shifting toward lower-priced stores as everyday costs squeeze household budgets.

Speaking at the [Goldman Sachshttps://fortune.com/company/goldman-sachs-group/) Global Consumer and Retail Conference on Tuesday, Dollar General CEO Todd Vasos said the retailer’s core customers—whom he defined as those making less than $45,000 a year—change their shopping behavior when gas prices hit $4 a gallon. They tend to buy closer to home, shop more often, and purchase less on each trip. Shopping frequency rises, he explained, because customers do not know what the next week will hold and buy what they can, when they can.

“But the interesting thing with this economy, because of the other sustained headwinds of inflation over the years that have passed, even that middle to upper middle is acting more like a lower-income shopper these days,” he said, according to a Seeking Alpha transcript.

The national average price of gasoline now stands at $4.476 a gallon, up from $3.189 a year ago, according to AAA, as President Donald Trump’s war on Iran disrupts global oil markets. Diesel has soared to $6.50, making goods shipped by truck expensive. Fuel, in other words, weighs on retailers from both directions—shaping how often customers get in the car to shop, and how much it costs to truck goods to shelves.

But it is not just energy costs. Utility bills, new and used cars, insurance, food, and caregiving costs have all jumped. Vasos said even those making $100,000 a year or more are feeling the squeeze.

“I would tell you, what we’re hearing more and more from them is ‘I don’t feel like I’m higher income at $100,000 any longer,’ because of all of the headwinds that I just mentioned,” he added. “So we believe at Dollar General, we’re in a really good position to service all of the different demographics of what we have.”

Still, consumers remain very resilient, and the biggest reason is that they have stayed employed, Vasos explained. Indeed, the ability of consumers to adapt to higher prices has been a hallmark of the U.S. economy lately. The latest retail sales report showed a better-than-expected 1.2% increase in August and a 1.1% gain after excluding gasoline. Upcoming monthly retail sales figures and earnings updates from major retailers will offer the next reading on whether that adaptability holds.

As long as employment holds, Dollar General’s customers will find a way to navigate the inflation landscape, he predicted.

“Having 2,000 items at or below $1 is very meaningful for the consumer, always has, but especially in this environment,” Vasos added.

Other signs have emerged that making $100,000 is not enough to shield households from economic anxiety. A survey from the Harris Poll last year found that 64% of six-figure earners said their income is not a milestone for success but merely the bare minimum for staying afloat.

Even those making $200,000 or more have resorted to financial tactics often associated with less wealthy consumers: 64% said they have used rewards points to pay for essentials, 50% have used “buy now, pay later” plans for purchases under $100, and 46% rely on credit cards to make ends meet. “Buy now, pay later” services let shoppers split purchases into installments rather than pay upfront.

Michael Green, chief strategist and portfolio manager for Simplify Asset Management, wrote a viral Substack post last year arguing that the real poverty line should be $140,000. Conventional gauges, he said, do not capture how much Americans—including households earning six figures—are struggling with the cost of living.

“If the crisis threshold—the floor below which families cannot function—is honestly updated to current spending patterns, it lands at $140,000,” Green added.

This story was originally featured on Fortune.com.