Dollar Stores have popped up everywhere over the past decade. The promise of cheap products and groceries led to growth in locations often in small towns, or poorer neighborhoods. Some argued they help provide needed resources in these areas. Others complain they destroy local businesses while selling low quality products.
The dynamic is changing. Recently, Family Dollar announced it’s closing 1000 stores across the nation as it struggles to make profit. Inflation has also re-defined what a “Dollar” store is as prices have increased to keep up with inflation. But that’s not all. Dollar stores also face employee issues. One store closed after the staff walked off the job.
Today Books & The Biz talk about the dynamics of Dollar Stores and the lessons any business needs to learn from.
