Dollar Stores ‘Picking Up in Popularity’ With Consumers of All Stripes, Says NPD
More than four in 10 U.S. consumers planned to shop at a dollar store this holiday season, reported NPD’s Checkout receipt-mining service. Dollar store chains like Dollar General, Dollar Tree and Family Dollar “are picking up in popularity,” buyers increasing…
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3 percent in the 12 months ended October, compared with the same period a year earlier, it said. “Dollar stores’ old bargain-based reputation is now more about value and variety, expanding their reach among consumers,” said NPD. “Especially during the holiday shopping season, time-starved consumers are attracted to one-stop retailers that help them minimize the surge in their spending.” Consumers of all income levels and age brackets are shopping at dollar stores, the researcher said. Nearly a third of dollar store spending comes from homes with incomes of $100,000 and higher, it said. Consumers between 45 and 54 years of age are the dollar stores’ sweet spot, with 30 percent of spending, the firm said: “However, younger consumers are also engaging with dollar stores.”