Loading Text to Planning App - Considerations?

Are there any best practices or considerations around loading text to an EPM app (Planning in this case)?

I have ~6,000 bottom level members in the Entity dimension, and I would be loading a "Customer Name" value to all of those (not scenario, period, or year specific, would be No Scenario/BegBalance/FY20 for all).

There would be ~4,000 distinct customer name values now, and that would grow each year.

Is this approach fairly common in the EPM world?

My main concern is whether this volume of text values will cause any issues with the application (I know that the text values are stored differently than numeric values).