Source: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A7066816568394985472
Household brands cash in on dollar-store dynasty: #Brands #SupplyChain #Channel #Disruption #Retail #Consumer: https://lnkd.in/grKzWpKD :
So, looks like they followed on what we posted earlier!: #Extreme #Growth at #Lowest #Prices: $33.75 Billion Annual Sales: https://lnkd.in/g7HqhHCh
Major #household brands are #positioning their #products for #discount shelves, as #dollar #stores continue to pop up around the nation. America’s dollar-store chain #storefronts steadily increased between 2019-2023, with more than 34,000 in the U.S. last year — exceeding the total of all McDonald’s, Starbucks, Target and Walmart locations in the country combined, per a recent study.
• “Dollar stores are one of the #fastest #growing #channels in retail… They’re adding loads of stores, are attracting new customers, and seeing their share of wallet rise.”
• Weekday visits to Dollar Tree, Family Dollar and Dollar General increased between the first quarter of 2022 and 2023.
• In 2021, nearly half of the new stores that opened in the U.S. were #chain dollar stores — “A DEGREE OF MOMENTUM WITH NO PARALLEL IN THE HISTORY OF THE RETAIL INDUSTRY”
• In 2023, Dollar General plans to open another 1,050 stores and Dollar Tree Stores another 650.
#Inflation has been a key reason that many consumers have turned to discount and dollar stores for #groceries and #essentials. Household brands who spoke with Axios are targeting dollar store shelves with everything from razor blades to coffee, peanut butter and pet food — even if those #prices exceed $1. #Millennials, a key #consumer #target group, also “seem to be getting more invested in the #channel.” When it comes to dollar stores, “that means delivering the #high #quality [#consumers] can #trust, the #variety they desire and the #affordability they expect.” The Kraft Heinz Company’s distribution has grown 7% across dollar store customers in the past year, the company has “a path to double-digit #growth by year-end.” Danone North America expects Dollar General to be one of its fastest-growing retail customers this year with an anticipated 40% increase in growth.
Dollar stores were the FASTEST-GROWING FOOD RETAILERS BY HOUSEHOLD SPENDING FROM 2008 TO 2020 — increasing by a lofty 89.7%. Dollar stores still only represent a small portion of #national #household #food #purchases — 2.1% in 2020.
Global Risk Management Network LLC: Silicon Valley-Wall Street-Pentagon Networks: AWS-Quantum Valley
Silicon Valley’s Next Big Thing™: CEO-CTO-CFO Know-Build-Monetize™ Networks: Join The CxO Metaverse™
C4I-Cyber Quantum Valley-SiliconValley Digital Pioneer USAF-USSF Ventures Engineering Sustainability
