The Rise of the Dollar Store
It used to be that a dollar store was ideal for party supplies, greeting cards, and little more.
But now that stigma is changing, and consumers are finding all kinds of uses for dollar stores’ many high-discount products.
Dollar stores have been on the rise since 1998, growing into a booming industry that’s starting to get the recognition it deserves.
And now, the industry is worth around $56 billion.
As consumers realize that the deep discounts dollar stores offer are really worth it, and that the products are just as good as anywhere else, bargain shopping has taken a new direction.
The stores have even made their way into the media. Bargain home design television shows have shown designers traveling to these locations for low-cost picture frames and other items that could be put to stylish use.
And dollar stores are convenient, too.
Whereas bigger stores like Target (NYSE: TGT) or Wal-Mart (NYSE: WMT) may be located in congested areas and take a long time to get through, dollar stores are smaller and more often much closer to home.
Accessibility can go even further than that. Dollar General (NYSE: DG), for example, has a full website where customers can actually shop online.
And Family Dollar’s (NYSE: FDO) website offers free coupons and a list of the weekly deals.
The industry’s popularity seems to have really gotten a boost with the recession. Family Dollar has been steadily rising since 2008:
Other dollar stores have followed similar ascending patterns, particularly over the past several years. It might be time to rethink how much you spend on your next trip to the store.+7
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