Dollar Store: Everything You Need to Know about Dollar Stores Marketing

Whether you live in the USA or UK, you must be familiar with the Dollar stores (Pound shop in the UK). It is a variety store, which is similar to a retail store in which everything costs a dollar or less. In this content, we will discover more about these stores. Whether you are a professional or a student, you can use this information to gather knowledge and write a stellar paper on it.

Definition of a Dollar Store

According to the definition in the Cambridge Dictionary, a dollar store is a shop where you can buy everything for just one dollar. These stores sell items that are inexpensive, each for one dollar or less. The dollar stores have become very popular throughout the world, and you can get things ranging from children’s toys to cleaning supplies.

In the USA, most of these stores sell exclusive imported merchandise. Many dollar stores also sell things that are made in China. However, the term “dollar store” can often be misleading. There are many stores which have the ‘dollar’ word in their name or who claim to be ‘dollar stores’ but also keep items that are charged at a ‘more than one dollar’ rate. The addition of sales tax also adds to the problem with the name of these stores. Consumers have to pay more than a dollar for a taxable item.

During the great recession, the Dollar stores expanded continuously at the time of the recovery. At present, there are more than thirty thousand dollar stores in the US. These stores were once highly criticised for making profits out of the urban and rural poor people. However, at present, these stores have a mixed client base that includes people from every income level.

The concept of dollar stores is not something new. It has most likely originated from the ‘five and ten’ or ‘five and dime,’ which is a store where they sell everything for five or ten cents. Woolworths brought the concept into practise in Utica, New York, 1878.

Economically, the dollar stores’ pricing strategy is inefficient because there is a possibility that some stores might take less than a dollar for a few items. But, marketing efficiencies of a single price structure balances this. Eventually, customers purchase potentially overpriced items. This pricing inefficiency, however, becomes, unacceptable when it comes to higher prices.

Learn how the dollar stores are getting benefitted from the financial inequality age.

What are the Different Dollar Stores?

The dollar stores function via buyers who look for a store where they can get the best deals on bulk orders. The overstocking of other stores can also supply the orders. This way, they can charge very less for the products and help consumers to save money.

There are different dollar stores, the details of which are given below:

Dollar General- This was initiated in Springfield, Kentucky, in 1955. Presently, it has more than nine thousand two hundred stores in 35 states. The headquarter is located at Goodlettsville, TN and the organisation has almost eighty-eight thousand employees. Many branded products are sold in this store which includes Proctor and Gamble, Kellogg’s, General Mills, etc. Also, consumers can collect coupons from various sources like newspaper, online, in-store coupon boxes, direct mail, etc.

Family Dollar- In 1959, Family Dollar opened the first store in Charlotte, North Carolina. This company has more than 6800 stores throughout the USA. These stores offer items to people with low to mid-level incomes. You can get items like health supplies, cold and flu care, home decor, groceries, household cleaners, pet supplies, groceries, etc. These stores also operate online. However, the shipping charges might not make it that cost-effective for the consumers.

Dollar Tree- The Dollar Tree established its first store in 1986 in Dalton, Georgia. They have more than four thousand stores in the US and Canada. There is a Dollar Store in all the 48 contiguous states of the USA. In these stores, items like arts and crafts, toys and games, kitchenware, storage items, floral supplies, hardware, personal health-related products are sold. The customers cannot buy in bulk from these stores, but the same can be done online via Dollar Tree Direct.

99 Cent Only Store- In 1982, 99 Cent Store started, and today two hundred and eighty-one stores are there throughout the nation. While most of these stores are in California, the rest are in Texas, Nevada, and Arizona. Visit these stores and you will get food and household merchandise. Other than this, you will also get party supplies, home decorations, clothing, pet care products, and beauty essentials. Free membership is also available, which can bring the opportunity to buy the items in large and bulk quantities.

Benefits of a Dollar Store

Dollar stores provide several benefits, the primary one being the inexpensive merchandise. It is especially beneficial for families belonging to the low to medium income groups. Also, as these stores are present in large numbers in every state, it takes very less time for consumers to travel there and get the supplies they need. Other than these, consumers also get many beneficial deals and offers. The best deals can be received on items like party supplies, toiletries, gift wraps, kitchen utensils, reading glasses, few food products, candles and incense, household cleaners, picture frames, kid’s toys and novelties, greeting cards, etc.

The dollar stores have established a totally new shopping category which is called “fill in trip.” When a shopper needs to get a few things without travelling a long way, the dollar stores come in to fill this need. Apart from this new shopping behavior, the dollar stores also reduce the local competition from the small town ‘mom and pop grocery store.’ This is how dollar stores attract more customers and earn more profit.

There are people who are unable to shop at stores like Walmart where they can get good bargains. Thus, the dollar stores will still be making profits even when recession hits.

Examples of Dollar Stores

Dollar Stores are available both offline and online. Some examples of dollar stores are Dollar Tree, Dollar General, 99 Cents Only Stores, Fred’s, K Dollar, Daiso, etc.

Some of the best online dollar stores are

RoseGal- Although it might become a little bit difficult to get items at $1, you will get many good deals on clothing. You do not have to pay shipping fee while making purchases and new shoppers will get special discounts.
H & J Closeouts- You will get most products by spending less than $1. The option of international shipping is available.
Dollar Fanatic- This is the best online dollar store if you want to buy in bulk. You can get all the items at once and avoid multiple trips to the store.
Dollar 1- You will get excellent deals on all items and get free shipping when the amount spent is at least $25.

Difference Between Dollar General and Dollar Tree

As mentioned earlier, there are discrepancies regarding the term ‘dollar store.’ All stores having the word ‘dollar’ in the name does not sell everything for a dollar or less. This is the primary difference between Dollar Tree and Dollar General.

Dollar Tree is a real dollar store. However, the same cannot be said about Dollar General. In Dollar General, you will get affordable items, but not everything will come under a dollar. Dollar General used to sell everything for a dollar or less. At present, it is more like a discount retailer.

Dollar Tree and Dollar General are very close competitors as they are the largest dollar stores in the USA. Dollar Tree, along with its recently acquired Family Dollar chain, is located in places that do not have Dollar General. As per sales, Dollar General made $23.5 billion in 2017, while Dollar Tree earned $22 billion.

Now you know a good deal of knowledge about dollar stores and its different aspects. The information will be helpful to both students and professionals.

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