The Retail Contender No One is Talking About
While it’s true that Amazon, Walmart and the like easily capture the headlines when it comes to retail news, there’s a sneaky, but ubiquitous retailer that is ballooning behind the scenes. In the same week that Amazon Prime Day reached a record, the Dollar Tree opened its 15,000th store.
As the parent company to Family Tree, Dollar Tree combines to rival its biggest competitor, the Dollar General, which also has about 15,000 stores. This means that between the two of these chains, 30,000 brick-and-mortar locations operate and account for more stores that the six biggest retailers (Walmart, Costco, Kroger, Home Depot, Walgreens and CVS) combined.
The top department stores across the country, Macy’s, Kohl’s, Nordstrom, JCPenney, Dillard’s, Saks/Lord & Taylor, Neiman Marcus and Belk, make up for less than 15% of the real estate that the dollar stores claim.
The impact of dollar stores and their widespread nature has had an effect on pharmaceuticals and grocery stores alike. Since dollar stores are typically outside of big cities and off of major interstates, geographical ignorance is one reason they’ve been somewhat forgotten.
But, based on the sheer numbers alone, they are strong contenders in a shifting retail sector.
For comments, questions or concerns, please contact Daniella Soloway
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