12/18/2023 0 Comments Dollar general 3 tier shelfAs its budget-conscious customers get hit by higher prices at the gas station and grocery store, that cuts into money they can spend at the dollar stores. Looking for growth, coping with inflationĭollar General is trying to drive growth - and draw shoppers with more disposable income - as it prepares for slowing sales and copes with inflation. It has opened 14 smaller versions of Popshelf inside DG Markets, a format of Dollar General that is larger and has a wider selection of groceries, and it will add more. The company is also testing a store-within-a-store format. She said it has gotten a lot of requests for that on social media. She said the company will likely start shipping purchases to customers' homes, too, so that people who don't live near a Popshelf store can buy the products. She said Popshelf stores offer customers an option to buy online and pick up in the store. Home goods, in particular, has been a hot category, including decor and organizational items, Taylor said. That inspired Popshelf's emphasis on colorful displays and frequent merchandise changes to make visits to stores feel like a "treasure hunt," whether shoppers are looking for a gift, preparing for a party or decorating for the holidays, she said.ĭepending on the time of year, its mix of goods includes toys, throw pillows, Christmas ornaments, pumpkin-shaped disposable paper plates, balloons, bath bombs and specialty food items such as hot cocoa and cheeses for a charcuterie board. "We realized a standalone concept had a lot of merit, particularly as it related to providing a really exciting, joyful, engaging shopping experience in the small-box store," she said. She said the company saw an opening for a different store. Taylor said the idea of Popshelf was born as Dollar General worked on its nonconsumables initiative, a companywide effort to expand its store assortment to include more items such as home decor and party supplies, which began in 2018. It hired its first chief medical officer in July. It is also adding fresh fruits and vegetables to more of its stores and expanding into health care. To drive growth, the retailer has been opening additional locations at a rapid clip. Sales at the dollar stores also have a heavier mix of grocery and snack items, which tend to be less profitable for the retailer.ĭollar General has more than 18,000 stores across 46 states. Its customers have an annual household income of $40,000 or less. Over 90% of the merchandise sold by Popshelf costs $5 or less, the company said.ĭollar General customers tend to live in rural areas, have a tighter budget and skew slightly older, Taylor said. The stores are roughly 9,000 square feet and carry items such as home goods, seasonal decor and party supplies, including items from Dollar General's private brands. Its target customers are women who live in suburban areas and have an annual household income that ranges from $50,000 to $125,000, the company said. She said its average basket size and value is higher than at Dollar General's namesake stores, though she declined to share numbers.įor the dollar store chain, Popshelf is a way to attract new customers and drive up profits. Dollar General said it expects open 1,110 new stores in the coming fiscal year, including Popshelf, Dollar General and the international locations.īut shares fell more than 3% early Thursday, after the company said it anticipates same-store sales will decline this fiscal year.ĭollar General Chief Merchandising Officer Emily Taylor said in an interview that the retailer is speeding up expansion plans for the new store concept because of its popularity with customers. News of the ambitious expansion plan comes as the retailer said it will test its first international market by opening up to 10 stores in Mexico by the end of fiscal 2022. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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