Getting more bang for your buck used to be the mantra of dollar store shoppers everywhere, but times are changing – and prices are rising.
As consumers continue to contend with escalating prices for food, clothing and other items thanks to inflation, discount retail chains like dollar stores are rethinking their pricing strategies. Dollar Tree announced last month that it will be boosting prices to $1.25 for most of its products. And now Dollar General is looking to roll out more of its Popshelf stores, where most items cost $5 or less.
Dollar General said Thursday that it anticipates nearly tripling the number of Popshelf stores it has by next year and plans to have about 1,000 Popshelf locations by the end of fiscal 2025.
Popshelf stores offer items such as beauty and seasonal products, toys, home décor and arts and crafts. Dollar General initially unveiled the Popshelf concept in October 2020. By May, the Goodlettsville, Tennessee-based company had plans to open approximately 25 Dollar General and Popshelf combination stores, and up to an additional 50 Popshelf locations in various markets by the end of fiscal 2021. There are currently 36 Popshelf stores open, according to the Popshelf website.