American bargain chain Dollar General will launch a new concept store with much pricier items. The two new Popshelf stores will open soon. Actually, the company plans to add 30 more by next year.
The new Popshelf stores will cater to suburban women shoppers with household incomes ranging between $50,000 and $125,000 annually, Dollar General said. On the other hand, the Popshelf stores contrast the Dollar General’s bargain store identity.
Dollar General wants to attract shoppers looking to spend more than a few bucks https://t.co/tMcCVqdyHg
— FOX Business (@FoxBusiness) October 8, 2020
Particularly, the new stores will sell various home products, health items, and beauty must-haves, with over 90 percent of the items bearing price tags around $5. Moreover, General Dollar will also include their private brands. Meanwhile, executive VP Emily Taylor and chief merchandising revealed that they will keep refreshing their inventory to surprise walk-in shoppers.
Basically, Dollar General will place the new concept stores in the suburbs. The two new Popshelf stores will open near Nashville, Tennessee, this fall, the company said. Each location will cover nearly 9,000 square feet of area.
‘Store Format Innovator’
The chief executive, Todd Vasos, expressed excitement over the introduction of the new concept stores. The CEO added that Dollar General remains in a position of strength, noting the company’s track record in innovating store formats. “We have leveraged robust consumer insights to create a unique store that we believe will resonate with new customers.”
“At Popshelf, customers will find a differentiated retail concept that seeks to bring joy to their shopping experiences, with surprising deals in targeted non-consumable product categories,” Taylor stated.
Moreover, every new Popshelf store from Dollar General will create 15 new jobs, the company claimed.
Bargain Stores Amid Economic Hiccup
As businesses, like retailers, struggled amid the pandemic, Dollar General, with over 16,700 locations, managed to do well. Its physical stores positioned itself as essential, so they remained operational during the health crisis. In fact, the stores it opened saw sales rise by 18.8 percent from last year in the second quarter, May to July.
The reason for such strong sales could include the off-price of its merchandise, especially during this economic uncertainty. Last week, Dollar General’s share price even reached a record high of $219.40 in 52 weeks.