This chain of popular dollar stores reduces prices, says the CEO

The retailer at reduced prices is about to become even cheaper.


Dollars stores are there that you are going when you are looking for the lowest prices, because it does not become much lower than a dollar. Over time, Americans have become more and more dependent on popular channels like Dollar General, Dollar Tree and Family Dollar, especially during the cocovio pandemic. According to NPR, the latest research indicates that 88% of people in the countryshop in dollar stores At least sometimes, and last year, 4 out of 10 new stores openings in the United States were a dollar stores. From now on, the Americans are still counting on retailers at a reduced price, because the nation faces high inflation. And because of these difficult economic times, a chain of stores with a dollar in fact reduces prices less than a dollar. Read more to find out where you can get maximum savings.

Read this then:Dollar General has just announced this major change to "better serve customers".

Inflation is currently hitting buyers at the moment.

man with shopping bag walking out of store
Whisper

Inflationclimbed In recent months, reaching a summit of 9.1% in June, according to theAmerican work statistics office (BLS). The rate dropped slightly to 8.5% in July, but it is still much higher than the averageInflation rate of 3.8% per year between 1960 and 2021. Consequently, consumers have already started to change their purchasing habits. A survey in August 2022 Morning consumed with 15,000 American adults found that 85% of respondents said that the increase in inflation hadaffected their purchasing behavior. Among these, 77% said they had reduced their purchases and 65% admitted having postponed minor purchases.

These changes have become more visible because inflation has remained at high levels, which increases consumer costs. "The first two months ofReally heavy price increase, it's a bit of pressure, but people don't notice it as much, "Neil Saunders, the general manager of the GlobalData analysis company saidThe Washington Post. But over time, "people are starting to say:" It becomes a real brake "," said Saunders.

Inflation even affects stores in dollars.

dollar general sign outside location
istock

Morning Consult said that 68% of Americans say they are shopping in stores at a reduced price as a result of high inflation. But even if some retailers could improve slightly than others, the negative effects of inflation are always felt at all levels. In fact, Dollar General and Dollar Tree - who also owns Family Dollar after an acquisition of 2015 - begin to "pinch"According to inflation, said CNN.

On August 25, the two companies each pointed out the financial results of their second quarter during the year 2022, which finished the last week of July. And although Dollar General and Dollar Tree both said sales increases, there were clear signs that inflation also begins to have an impact on these reduction chains, according to CNN.

The General Dollar report indicated thatClothing sales had dropped More than 20% compared to the same period last year, and sales of seasonal and domestic products were also decreasing. On the other hand, Dollar Treereduce your financial prospects For the year, the reduction in its estimation of annual net sales to a range of $ 27.85 billion to $ 28.10 billion compared to its previous range of 27.76 billion to $ 28.14 billion.AE0FCC31AE342FD3A1346EBB1F342FCB

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A popular dollar store chain now plans to reduce prices.

the grand opening of a Family Dollar and a Dollar Tree combined into one retail store.
Whisper

Following new financial reports, consumers may start noticing even lower prices during shopping in a shopping channel with a popular dollar. In a report,Mike Witynski, the president and chief executive officer of Dollar Tree, Inc., said that the company would reduce prices at Family Dollar to increase sales. "Competitive prices at Family Dollar will long improve our sales productivity and profitability, and ultimately our opportunity to accelerate store growth," said Witynski.

According to the company's report, comparable sales of Family Dollar for consumables have increased while comparable sales for discretionary products, or non-securitycessions, have dropped. These sales decreased by 4.1% "as buyerscontinued to manage Thanks to this inflationary environment, "said Witynski during a profit call on August 25.

"They feel under pressure as if they have never done so before. And in this inflationary environment, with the portfolio of the stretched customer, our consumers count on our stores to achieve their budgetary goals," he added . "So, it was really an ideal environment to start moving faster than we had previously planned to meet the expectations of customer value more fully, fill price gaps and win them as customers to long term in this inflationary budget. "

The family dollar will also undergo other changes.

sign for family dollar
Whisper

During the recent call of results, Wytinski noted that a "positioning of the refreshing family brand" is one of the main initiatives on which the company is currently constrained. "Family Dollar's recovery is a huge value creation lever, and it gets a lot of concentration and attention," added the CEO.

In addition to pricing adjustments, the parent company of the Dollar store will also increase store standards. This will include "adding a linear sequence, the development of seasonal assortments as a focal point, using deeper shelves on key consumable categories to improve store efficiency and improve stocks, widening the offer Direct delivery to the store, improving the space dedicated to snacks and increasing the supply of drinks and optimizing frozen food assortments ", according to Wytinski.

"We feel very confident in our ability to repair the family dollar and to considerably improve its long -term performance and in the process, create enormous value", "Rick Dreilingsaid the chairman of the Dollar Tree board of directors in calling on the results. "We are growing."


Categories: Smarter Living
Tags: News / / Saving Money / Shopping
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